Legal Question in Banking Law in India
what remmides are provided by law against dishonour of chq. in which section we can file a pittion against chq.bounse. in which court we can go . what condition or document required for file a pittion . how much time will take decision.
2 Answers from Attorneys
after the cheque is bounced, a notice is to be sent within 30 days asking for payment and in case the defaulter does not pay up, you may file a complaint u/s 138 of negotiable instruments act.
This case relates to section 138 to 144 Negotiable iNSTRUMENT acT. You have to first send notice of dishonour of cheque to the drawer within 30 days of dishonour. If drawer of cheque fails to make good the cheque within 15 dAYS, they you may file a criminal complaint before the magistrate (first Class) having jurisdiction over the local area. The only condition you have to see is that the drawer must have been liable to the payee and the cheque was issued in discharge of the liability out of an account maintained by the drawer
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