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Cheque Bounce due to fund shortage
01-Sep-2023 (In Cheque Bounce Law)
Sir, I am sales Executive i supplied motor component to one of my customer he requested two days credit & collected goods last year now almost 18months over , after regular follow up i collected cheque on 18th Aug it got bounce due to fund shortage, he purposely given his personal account cheque instead company cheque, now today is 31st Aug , now also he says today tomorrow but he never honor his commitment, he have 3 units , please advise how to proceed to collect money. Because i am the responsible to the company.
Immediately issue legal notice calling upon the drawer of the cheque to pay the cheque amount within fifteen days from the date of receipt of your notice. If he does not pay the amount within fifteen days, file a cheque bounce case in the jurisdictional magistrate's court.
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Raghavendra Rao B.K.
Bangalore | 200+ Answers
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you have to sent the notice to the drawer with in 15 days from the date of receiving “Cheque Return Memo” from the bank. The notice should mention that the cheque amount has to be paid to the payee within 15 days from the date of receipt of the notice by the drawer. If the cheque issuer fails to make a fresh payment within 15 days of receiving the notice, the payee has the right to file a criminal complaint under Section 138 of the Negotiable Instruments Act.
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Adv. Shabuddin B S
Bangalore | 100+ Answers
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