Yes, Section 138 of the Negotiable Instruments Act, 1881, is a criminal offense. It specifically addresses the dishonour of a cheque due to insufficient funds or exceeding the available amount, and the penalty for such dishonour can include imprisonment (upto 2 years) or a fine (not exceeding twice of cheque amount) or both. The payee of the cheque can initiate a criminal suit against the drawer in such cases.
While Section 138 proceedings are often described as "quasi-criminal" or "civil sheep in a criminal wolf's clothing," the Supreme Court has clarified that they are indeed criminal proceedings under the Negotiable Instruments Act.