Legal Question in Banking Law in India

Re: cheque bounce

If the cheque is presented within 6 months from the date of issue of cheque and dishonured by the bank for insufficiency of funds or stopped payment or account closed or any other reason of insufficiency of funds, than in that case, first of all within 30 days of receipt of intimation of dishonour of cheque send a legal notice to the drawer of the cheque mentioning the fact of dishonour of cheque and demanding payment of dishonured amount. Send the notice by RPAD & UCP. Thereafter if within 15 days of receipt of the notice the drawer does not make the demanded payment, than you have to file a private complaint before the Magistrate within whose jurisdiction the cheque was dishonured within 30 days from the expiry of 15 days of demand notice period.

Re: cheque bounce

File complaint case U/s.138 NI Act and recovery suit.

Re: cheque bounce

If inspite of informing him of chq bouncing he does not take steps to pay you then contact an advocate and give him a legal notice immediately

Re: cheque bounce

take care of limitations and better take help of an advocate.

otherwise see section 138 and 142 of negotiable instruments act.

Re: cheque bounce

Please follow the instructions :

(1) Issue a legal notice demanding the said amount of Rs. 25000 within 30 days of dishonourment of the cheque.

In case of failure of the payment

(2) File a criminal complaint u/s 138 of Negotiable Instruments Act in the jurisdiction of his residential address or the work place address.

(3) Even if he does not pay the money and you are entitled to file a Civil suit.

In case of need please contact personally alongwith the details.

Professional charges are applicable.

Re: cheque bounce

you have to issue such person notice demanding the amount within 30 days from such bouncing of cheque. Further you have to give 15 days time to such drawer of cheque after receipt of your notice. If he pays well and good otherwise you have file a criminal complaint u/s 138 of NI Act before Magistrate where the such is resding or having office . Because of fear of punishment he compromises the matter . If he doesnot pay the money you have file Civil suit within 3years of such time when payment became due