Legal Question in Business Law in
we issued one cheque to shipping company but it got bounced due to un-sufficient funds ( it apperaerd in our bank before our cheque could passed and balance transfered in our a/c) amount of cheque we issued was app. 38000 Rupees .
We immediately paid to shipping company by D/D.
Now shipping company is asking Rs-5000 / as penalty from us for the bounce cheques.
so my question is how much they can charge for cheque bounce / is there any law regarding it?
Asked on 1/19/11, 11:43 pm
1 Answer from Attorneys
Professor SOMNATH MUKHERJEE
MUKHERJEE ASSOCIATES(Cell +91 9874753359/ 9477781578)
actually in the chaque bounce case the offence started when the compainant serve the notice and the accused fails to pay the same but here nothing is happened so no question of penalty is liable to be paid.
Answered on 1/20/11, 8:40 am
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