“Section 148 NI Act, applies even in a case where the criminal complaints for the offence under Section 138 of the N.I. Act were filed prior to 2018 amendment Act i.e., prior to 01.09.2018.”

In an important judgment, the Supreme Court has held that Section 148 of the Negotiable Instruments Act as amended, shall be applicable in respect of the appeals against the order of conviction and sentence for the offence under Section 138 of the N.I. Act, even in a case where the criminal complaints for the offence under Section 138 of the N.I. Act were filed prior to 2018 amendment Act i.e., prior to 01.09.2018.

The bench of Justice MR Shah and Justice AS Bopanna upheld a First Appellate Court order that had directed the appellants-convicts to deposit 25% of the amount of fine/compensation ordered by the Trial Court. (This First Appellate court order was later affirmed by the Punjab and Haryana High Court).

Section 148 of the NI Act, introduced vide an amendment in 2018, empowers the Appellate Court to direct the accused/appellant to ‘deposit’ minimum of 20% of ‘fine’ or ‘compensation’ awarded by the Trial Court.

Source:https://www.livelaw.in/top-stories/section-148-ni-act-can-be-applied-retrospectively-145349