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Cheque bounced due to insufficient funds is promissory note necessary
04-Feb-2023 (In Cheque Bounce Law)
my creditor has given a cheque for Rs.100000/- for hand loan repayment. The cheque has been bounced sice insufficient funds in his account. Can i go for file a suit against him? On more doubt is it necessary of promissory note?. Kindly suggest on this issue.
If it is bounced not crossed 30 days you can issue a legal notice through advocate and file criminal case within 45 days or else you have to file civil suit for recovery of amount by paying court fee.. in this case no need to show your source of income . Simply mention it as hand loan. As amount is below exempted income...
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Adv. Mohan Goud
Hyderabad | 25+ Answers
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