NAVIGATING LEGAL WATERS: DIGITAL TRANSFORMATION AND THE DISHONOUR OF CHEQUE IN INDIA

Abstract [English]

The exponential growth of digital technologies has sparked a seismic shift across myriad sectors, reshaping traditional paradigms and catalysing a re-evaluation of established legal frameworks. Amidst this transformative landscape, the dishonour of cheques stands as a poignant example of the intersection between age-old legal principles and emerging digital realities. Employing a descriptive methodology, this study embarks on a meticulous exploration of the intricate legal framework governing cheque dishonour, drawing insights from an array of online sources including statutes and scholarly discourse. Through an exhaustive review, key provisions, principles, and precedents shaping the adjudication of cheque dishonour cases are meticulously elucidated, providing a foundational understanding of the legal landscape. Furthermore, this research endeavours to unravel the impact of digital transformation on cheque transactions, discerning the implications of burgeoning digital platforms such as online banking, electronic payments, and digital wallets on the prevalence and resolution of cheque dishonour incidents. By synthesizing insights from diverse sources, including legal literature, regulatory guidelines, and empirical studies, this study delineates the evolving challenges and opportunities precipitated by the digitalization of cheque transactions. Delving deeper, this inquiry ventures beyond traditional legal analysis to probe intersecting themes such as data protection, cybersecurity, and the digitalization of currency. This study explores how digitalization influences cheque dishonour cases across various countries, including France, UAE, USA, and Singapore, with a comparative focus on India. Through a nuanced exploration, the interplay between legal principles and technological advancements is scrutinized, offering insights into the complexities and contingencies inherent in the digitalization of cheque transactions. Moreover, this study ventures beyond the confines of traditional legal analysis to explore intersecting themes such as data protection, cybersecurity, and the digitalization of currency. In conclusion, this research underscores the imperative for a holistic reassessment of legal frameworks in response to the imperatives of digital transformation. By elucidating the intricacies of cheque dishonour within this evolving landscape, this study offers a roadmap for navigating the complexities of modern commerce while ensuring the efficacy, equity, and adaptability of the legal regime governing cheque dishonour in an era of rapid digital transformation.