UAE amends law to decriminalise bouncing of cheques
The Hindu
Criminal liability in cases of fraud, forgery, and bad faith will stay
The United Arab Emirates’ (UAE) move to amend the Commercial Transaction Law that decriminalises bounced cheque cases is expected to come as a huge relief to hundreds of Non Resident Indians who earlier had to pay hefty fines and undergo imprisonment without trial in the Gulf nation. The new decree will come into force on January 2, 2022.
The present law states that bouncing cheques is a criminal offence. “In future, it will be a civil offence where people can discuss and settle the case amicably,” Indian expatriate, K.V. Shamsudheen, who is also the chairman of UAE-based Pravasi Bandhu Welfare Trust, said.
The amendments that remove penal protection of cheques are part of a series of efforts undertaken by the UAE to accelerate economic recovery, particularly in the private sector.
Prime Minister Modi celebrates BJP's victories in Maharashtra and bypolls, emphasizing unity and development over divisive politics.
Udhayanidhi Stalin urges cadres to launch campaign for securing 200 seats in 2026 Assembly elections
Udhayanidhi Stalin urges DMK members to gear up for 2026 Tamil Nadu elections, aiming for 200 seats.
A.P. Chambers and Tourism Forum urge Police Commissioner to allow round-the-clock access to RK Beach, address safety concerns.
Iran protests violent arrest of students in Kazan, seeks explanations from Russian authorities, demands accountability for incident.
SRMIST hosts IRIS 2024 summit with ASSOCHAM, fostering collaboration between academia and industry for innovation and growth.
Madras High Court directs CBI to probe illegal sale of government land assigned to missionary in Madurai.
An Injured painted stork was rescued by the Fire and Rescue Services personnel near Mullakkadu Beach Harbour in Thoothukudi district on Saturday
UPPL's record byelection win in Sidli boosts confidence for 2025 BTC elections, emphasizing peace-driven development model.
Ashwani Kumar, president of the Federation of Indian Exports Organisation (FIEO), emphasised on the crucial role of efficient port operation in facilitating global trade
Principal Secretary Sandeep Kumar Sultania urges power utilities to increase transformer capacity for higher energy demand in summer.
Space Commission member and former ISRO chairman A.S. Kiran Kumar called upon young technocrats to put in their heart and sweat to make India one among equals in the world in the space sector.