Court Rules Section 148 of NI Act Applies Retrospectively; 20% Deposit Requirement Upheld in Cheque Dishonor Cases.

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....Dishonor of Cheque - requirement of deposit 20% of the amount of fine or compensation - scope of amendment to section 148 of NI Act - retrospective or prospective - In case of Section 148 of the NI Act, there is no substantive right that is being taken away by the enforcement of the amendment - the argument that Section 148 is not retrospective is rejected. - HC....