Section 107
Determination Of Compensation
The compensation payable in case of dishonour of a Negotiable Instrument, by any party liable to the
Holder or any endorsee shall be determined as follows:-
(a) The Holder is entitled to the amount, together with the expenses properly incurred in presenting, noting and protesting it.
(b) An endorser who, being liable, has paid the amount due on the same is entitled to the amount so paid with interest from the date of payment until realization thereof.
? 107A. Penalty: In case any person who deliberately transfers a Cheque by drawing it to some body that he/she does not bear deposit in the Bank
or even if there is a deposit which is not sufficient, and if the Cheque thus transferred is dishonoured due to lack of sufficient deposit when
the Cheque is presented to the concerned Bank for the payment, the amount mentioned in the Cheque as well as interest on it shall be caused to be recovered to the Holder from the Drawer and he/she shall be punished with an imprisonment up to Three months or a fine up to Three Thousand Rupees or both.
Holder or any endorsee shall be determined as follows:-
(a) The Holder is entitled to the amount, together with the expenses properly incurred in presenting, noting and protesting it.
(b) An endorser who, being liable, has paid the amount due on the same is entitled to the amount so paid with interest from the date of payment until realization thereof.
? 107A. Penalty: In case any person who deliberately transfers a Cheque by drawing it to some body that he/she does not bear deposit in the Bank
or even if there is a deposit which is not sufficient, and if the Cheque thus transferred is dishonoured due to lack of sufficient deposit when
the Cheque is presented to the concerned Bank for the payment, the amount mentioned in the Cheque as well as interest on it shall be caused to be recovered to the Holder from the Drawer and he/she shall be punished with an imprisonment up to Three months or a fine up to Three Thousand Rupees or both.