Law of Negotiable Instruments and Dishonour of Cheques (15th Edition, 2025) by Justice P. S. Narayana is a seminal and authoritative commentary on the Negotiable Instruments Act, 1881, providing in-depth coverage of all aspects relating to promissory notes, bills of exchange, cheques, and particularly, Section 138 – Dishonour of Cheques.

Over the past editions, this work has earned recognition from courts, practitioners, and law students alike as one of the most lucid, comprehensive, and practically oriented treatises in Indian legal literature. The 15th Edition (2025) has been thoroughly revised and updated with the latest amendments, landmark judgments, and emerging legal trends in cheque dishonour law and banking jurisprudence.

⚖️ Key Features of the 15th (2025) Edition

• 📜 Comprehensive Commentary on the Negotiable Instruments Act, 1881:
  Provides a section-by-section analysis of the entire Act, including interpretative notes, legislative history, and practical implications.

• 💡 Detailed Treatment of Cheque Dishonour Cases (Section 138–147):
  The book offers an exhaustive explanation of offences relating to dishonour of cheques, covering every procedural and substantive aspect — from notice, cause of action, limitation, trial, and compounding to appeal and revision.

• 🏛️ Updated with Latest Amendments and Judicial Pronouncements (up to 2025):
  Incorporates key Supreme Court and High Court rulings, including:

  • Dashrath Rupsingh Rathod v. State of Maharashtra – territorial jurisdiction

  • M/s Bridgestone India Pvt. Ltd. v. Inderpal Singh – place of filing complaint post-amendment

  • M/s Meters and Instruments (P) Ltd. v. Kanchan Mehta – compounding and summary trial procedures

  • Makwana Mangaldas Tulsidas v. State of Gujarat (2020) – revisiting principles of vicarious liability under Section 141

  • P. Mohanraj v. Shah Brothers Ispat Pvt. Ltd. (2021) – interplay between NI Act and IBC proceedings

  • Rajesh Agarwal v. State of UP (2022) – procedural efficiency in cheque trials

  • Latest 2024–25 rulings on pre-summoning evidence, electronic service of notice, and recovery post-conviction

• 🧾 Practical Guidance on Trial and Procedure:
  Step-by-step explanation of procedural stages, including:

  • Drafting of statutory notice

  • Filing of complaint and limitation computation

  • Pre-summoning and post-summoning stages

  • Examination-in-chief and cross-examination techniques

  • Defence strategies, rebuttal presumptions, and compounding process

• ⚖️ Banking, Business, and Criminal Law Integration:
  Explains how cheque dishonour cases intersect with banking operations, company law (vicarious liability of directors), and criminal jurisprudence.

• 📘 Includes Model Forms and Templates:
  Contains practical formats for:

  • Statutory Notice under Section 138(b)

  • Complaint Petition

  • Affidavit of Evidence

  • Compounding and Settlement Deeds

  • Appeal and Revision Drafts

• 🔍 Analysis of Presumptions and Burden of Proof:
  Elaborates on Sections 118, 138, and 139, focusing on statutory presumptions, their rebuttal, and the evolving burden-shifting principles upheld by courts.

• ⚙️ Recent Legislative and Policy Changes Covered:

  • Negotiable Instruments (Amendment) Act, 2018 – provisions for interim compensation and deposit pending appeal

  • E-filing and virtual trial practices under High Court directions

  • Judicial reforms to curb pendency and ensure speedy disposal of cheque dishonour cases

📚 Content Overview

Part I – Introduction to Negotiable Instruments

• Concept and Evolution of Negotiable Instruments

• Kinds of Negotiable Instruments – Promissory Notes, Bills of Exchange, Cheques

• Essential Features and Legal Character

• Transfer, Negotiation, and Endorsement

• Rights and Liabilities of Parties

Part II – The Negotiable Instruments Act, 1881: Section-wise Commentary

• Detailed commentary from Section 1 to Section 147

• Analysis of definitions, presumptions, and procedural aspects

• Discussion on presumptions under Sections 118 & 139

• Distinction between civil liability and criminal culpability

Part III – Dishonour of Cheques (Section 138–147)

• Ingredients of the offence

• Jurisdictional aspects (pre- and post-2015 amendments)

• Statutory notice and limitation

• Cognizance, trial, and appeal

• Compounding of offences and interim compensation

• Civil remedies vs. criminal prosecution

• Company offences and vicarious liability under Section 141

Part IV – Procedure and Practice

• Pre-trial requirements and filing

• Evidence and burden of proof

• Presumptions under NI Act and their rebuttal

• Procedural simplifications under summary trials

• Execution and recovery post-conviction

Part V – Banking and Financial Dimensions

• Role of banks and drawee branches

• Stop-payment instructions and liability

• Countermanding cheques and closure of accounts

• Legal remedies for bankers and payees

Part VI – Model Forms and Practical Drafts

• Statutory notice

• Complaint petition format

• Affidavit evidence template

• Compromise applications and settlement deeds

Part VII – Recent Developments

• Impact of digital payments and electronic cheques

• Cheque truncation system and e-banking evidence

• Judicial reforms for expeditious trial of cheque cases

• Compounding trends and mediation initiatives

📖 Salient Features of the 2025 Edition

• 🔹 Incorporates latest 2024–2025 judgments interpreting cheque dishonour law.

• 🔹 Detailed procedural flowcharts explaining trial stages and remedies.

• 🔹 Model drafts for quick practical reference.

• 🔹 Comparative insights into civil vs. criminal liability.

• 🔹 Cross-references to allied statutes such as CrPC, IPC, and Companies Act.

• 🔹 Ideal balance between academic depth and practical guidance.

🎯 Recommended For

• Judges & Magistrates – for quick reference on NI Act interpretations and procedure.

• Advocates & Legal Practitioners – for practical templates and case law application.

• Law Students & Judicial Aspirants – for conceptual clarity and exam preparation.

• Banking Professionals & Corporates – for understanding cheque liability and remedies.

• Researchers & Academicians – as an authoritative reference text.

👨‍⚖️ About the Author

Justice P. S. Narayana is one of India’s most respected legal authors, known for his clarity, precision, and practical approach to legal commentary. A distinguished jurist and former judge, he has authored several authoritative works on Civil Procedure, Evidence, Negotiable Instruments, and Rent Control Laws, which are frequently cited by courts and legal practitioners across India.

His commentaries are marked by:

• In-depth statutory interpretation

• Extensive case law research

• Lucid explanation for both students and professionals

• Relevance to real-world court practice

🏛️ Conclusion

Law of Negotiable Instruments and Dishonour of Cheques (15th Edition, 2025), authored by Justice P. S. Narayana and published by Asia Law House, stands as the definitive authority on the law and procedure governing negotiable instruments.

This edition is an indispensable reference for those dealing with cheque dishonour litigation, offering not just legal theory but practical solutions, judicial interpretations, and procedural clarity.

With its detailed commentary, updated precedents, and real-world application, this book continues to be the most trusted guide for practitioners and students navigating the complexities of the Negotiable Instruments Act, 1881.

📗 In Summary:
A comprehensive, updated, and practice-oriented commentary covering every aspect of negotiable instruments and cheque dishonour law —
“Law of Negotiable Instruments and Dishonour of Cheques” (15th Edition, 2025) by Justice P. S. Narayana remains the gold standard reference for courts, lawyers, and law students across India.