Legal Question in Credit and Debt Law in India

Dear Sir/Madam

Sub: Section 138 of Negotiable Instruments Act 1881, India

I have read related blogs and wanted to know when we say the bank memo /Receipt of cheque dishounerd.is that the information/ message which the payee gets from the bank that cheque got dishounerd or bounced verbally by xyz reasons and from that day itself the time of intimate the drawer starts.

pls suggest and help me to have the clear understanding.

Regards,

Sarah


Asked on 7/29/13, 1:48 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

29.07.2013

Dear Sarah,

Yes, the intimation of cheque dishonour is not verbal. Your bank issues a Bank Advice mentioning the reason for the cheque dishonour. The time limit of one month (30 days) for filing a case under Section 138 of the Negotiable Instruments Act applies from the date you receive the Bank Advice for cheque dishonour.

Regards,

Read more
Answered on 7/29/13, 1:52 am


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