Legal Question in Banking Law in India

Bounced Cheque

I have given cash to one of the A.C vendor as he was in very much problem against which he issued a check of 10,000. it was a current a/c check which he told me to collect frm his shop. He has signed it but it was not mentioned that he has issued it in whose favour.So i have written the name of my company.

it was a cheque of 15th january which bounced on 17th january 08.

Now what can i do to get my money back, how much time it will take and wht will be the cost which i have to bear for legal process. what are the chances of getting the money back?

I have given him cash and i dont have any proof of that.


Asked on 2/02/08, 5:45 am

7 Answers from Attorneys
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Bounced Cheque

Approach to the lawyer. You can issue a legal notice under sec 138 of the negotiable instruments act. But matter of fact is that you need patience and it would be time taking process.

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Answered on 2/03/08, 4:02 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Bounced Cheque

You can issue notice and proceed under Sec 138 NI Act

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Answered on 2/03/08, 8:03 am
G. M. Gupta gmguptaandassociates

Re: Bounced Cheque

the cheque is the proof of money payable.

u need to send notice as per law and then if the payment is not made then file a complaint

it may take sometime and money but that u can recover

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Answered on 2/02/08, 6:03 am

Re: Bounced Cheque

Proceed u/s.138 NIAct.Consult a local lawyer as the rest depend upon your lawyer.Generally it takes 2-3 years.

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Answered on 2/02/08, 11:08 am

Re: Bounced Cheque

Proceed u/s.138 NIAct.Consult a local lawyer as the rest depend upon your lawyer.Generally it takes 2-3 years.

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Answered on 2/02/08, 11:09 am

Re: Bounced Cheque

Proceed u/s.138 NIAct.Consult a local lawyer as the rest depend upon your lawyer.Generally it takes 2-3 years.

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Answered on 2/02/08, 11:09 am
J. Radhakrishnan independent Practice

Re: Bounced Cheque

you should give notice within 30 days of the receipt of intimation of the bounced. The presumption is that a cheque is in discharge of liability. A blank cheque can be filled up with the name of the real payee.It is advisable that you consult a local lawyer and proceed.

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Answered on 2/03/08, 7:08 pm


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