Decriminalize Section 138 of the Negotiable instruments Act?

Bar Council of Maharashtra and Goa have decided to protest against the proposed move of the Finance Ministry to decriminalize Section 138 of Negotiable Instruments Act which states:
Dishonour of cheque for insufficiency, etc., of funds in the accounts is punishable.

In its letter to the Finance Ministry , it stated:
“…majority of the lawyers are practicing in this field of the law. That proposed move to Decriminalization will certainly affect their livelihood, careers and their survival will be put to great stake.”

The letter also read:
“The proposed move virtually tends to negate the very basic scope and object of Section 138 of the Negotiable Instruments Act which was brought into action to inculcate the faith and confidence of trading community in the commercial transaction. The proposal is inconsistent with the letter and spirit of the very provisions of the Section 138 of the Negotiable Instruments Act and the amendments therein from time to time.”

This move shall have a very degrading effect and would not be able to protect people against defaulters.

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