“Evidence by Way of Affidavit under Section 138 of the Negotiable Instruments Act (NI Act)” refers to the submission of testimony or evidence in the form of a sworn affidavit in cases related to dishonor of cheques. Section 138 of the NI Act deals with the legal consequences of dishonoring a cheque due to insufficient funds or other reasons.
In legal proceedings under Section 138, evidence plays a crucial role in establishing the case. An affidavit, being a sworn statement made under oath before a competent authority, serves as evidence submitted by the concerned party or witness. It contains factual information related to the dishonored cheque, including details about the transaction, issuance of the cheque, reasons for dishonor, and attempts to remedy the situation.
Submitting evidence through an affidavit streamlines the legal process by presenting clear and concise details, thus reducing the need for oral testimony and expediting court proceedings. Affidavits are accepted as evidence if they fulfill the legal requirements and are properly attested. They provide a structured and documented account of facts pertinent to the case, aiding the court in making informed decisions based on the presented evidence.
Please note that the legal nuances and specific procedures regarding evidence by way of affidavit under Section 138 of the NI Act may vary and should be verified with legal experts or practitioners.