Can a cheque bounce case be filed for Stop Payment
05-Apr-2023 (In Cheque Bounce Law)
Taken a loan of Rs 100000 and given it in writing that will be paying amount every month. He was supposed to pay 7000 but paid Rs 5000. Hence the cheque was deposited and it bounced. Can legal action be taken for the same. If yes what is the procedure and the cost involve for the same.
Was the cheque given to you as security? If yes then against security cheque once cannot file a cheque bounce case. If no then yes you can file a case under section 138 NI act. The procedure is that you need to send a legal notice through a lawyer within 15 days of cheque bounce and if there is no reply then within 30 days from sending the notice you need to file the case as per the jurisdiction
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