Legal Question in Banking Law in India

Re: Is it same that..................

yes the holder of the cheque has the same action u/s 138 be it may for stop payment or insufficient funds

Re: Is it same that..................

stop payment instructions are given by drawer to his bank on which his cheque is drawn. If the holder/payee of the cheque presents the cheque after the Bank is intimated stop payment, the cheque is said to bounce.In that case, the holder/payee can proceed under Sec.138 N.I.Act against the drawer. Stop payment is the step before bouncing. If the holder/payee does not present the cheque after intimated about the stopping of payment, it need not bounce.

Re: Is it same that..................

Yes, in both cases the payee is deprived of money by the drawer. Therefore, the payee is entitled to initiate appropriate action in both the situaitons.

Re: Is it same that..................

Yes both are almost same