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Cheque bounced due to insuffiecient funds, what to do?
21-Apr-2023 (In Cheque Bounce Law)
My cheque (issued by post office against NSC maturity) of rs 32020 bounce due to insufficient fund. Any way to get compensation?
Hello,
First of all, issue a detailed legal notice to the concerned authority of the postal department through a lawyer intimating about the dishonor of the cheque by your banker due to insufficiency of funds in the postal department's account and give the department 15 days time to settle your money. If they address your concern and pay the money fine. If they don't, file a cheque bounce after 30 days (after the completion of the 15 days notice period) against the department and proceed further. If you win the case, you will get double the cheque amount. Feel free to contact me if you need further clarification.
First of all, issue a detailed legal notice to the concerned authority of the postal department through a lawyer intimating about the dishonor of the cheque by your banker due to insufficiency of funds in the postal department's account and give the department 15 days time to settle your money. If they address your concern and pay the money fine. If they don't, file a cheque bounce after 30 days (after the completion of the 15 days notice period) against the department and proceed further. If you win the case, you will get double the cheque amount. Feel free to contact me if you need further clarification.
Helpful?
28+
28+
Adv. B. Srikiran
Hyderabad | 500+ Answers
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Dear Client,
You first consult the officer who issued the cheque and ask about dishonour of cheque. If they clear the cheque then there is no problem. If they delay the matter you can approach Post Master Head Post or Higher Authority. If they did not answer properly and you did not have solution then you issue a legal demand notice and proceed in a court of law for recovery and interest and costs of litigation.
You first consult the officer who issued the cheque and ask about dishonour of cheque. If they clear the cheque then there is no problem. If they delay the matter you can approach Post Master Head Post or Higher Authority. If they did not answer properly and you did not have solution then you issue a legal demand notice and proceed in a court of law for recovery and interest and costs of litigation.
Helpful?
49+
49+
Adv. Sistla Rama Krishna
Vijayawada | 400+ Answers
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