NEGOTIABLE INSTRUMENTS AND THEIR INDORSEMENTS IN INDIA

ABSTRACT The article begins with a general overview of legislation relating to negotiable instruments in India – Negotiable Instruments Act, 1881. The article deals with the transferability of negotiable instruments but the focus has been to highlight the position in regards to indorsement of such instruments. The slightly less talked about but common issue with regards to indorsements negotiable instruments, i.e. forged indorsements, has also been dwelledupon. It covers within its ambit the liability and punishments in case of a forged indorsement. While the Negotiable Instruments Act covers the liability in case of forged indorsements, it has not dealt with the punishments in case of such an incident and reliance has to be placed on other legislations to make the same punishable. Despite being a relatively old legislation, this aspect of the Act has not been in discussed often and thus the article aims to bring to the foreground all of the above mentioned points of discussion.