in138MEANING AND DEFINITION OF NI. The word ‘negotiable’ means transferable from one person to another, and the term ‘instrument’ means a document of title of money (as described by Prof. Goode).. A NI is required toComplaint in cheque cases. The cognizance of the offence in a cheque dishonour case, under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) can be taken by a