SC refuses to change Cheque validity period for lockdown
In a suo moto petition, the court took up the period of limitation expiring under various laws that could possibly be hit due to the present Covid-19 situation across the country which had forced several parts of the country to come under lockdown.
The period of validity of cheques will not be affected due to the lockdown as the Supreme Court on Friday held that it would not interfere with the policy decision of the Reserve Bank of India (RBI) prescribing the cheque to be valid for three months.
A three-judge bench of the Supreme Court headed by Chief Justice of India (CJI) Sharad Arvind Bobde stated in its order, “We do not consider it appropriate to interfere with the period specified by the RBI (for validity of cheque) as the entire banking system runs on the basis of the period specified.”
In a suo moto petition, the court took up the period of limitation expiring under various laws that could possibly be hit due to the present Covid-19 situation across the country which had forced several parts of the country to come under lockdown. This prevented litigants from approaching the Court and physically file cases.
Meanwhile, the court agreed to grant concessions under other statutes.
