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How to retrieve money when Cheque is given but bank account is closed
26-Dec-2023 (In Cheque Bounce Law)
Sir. A person has given a cheque worth Rs 1lac. No date is entered in the cheque. Now he has closed the bank account ,changed his house. He claims he has no money. He is contactable only through is mobe number. How can i retrive my money
How long it had been since the cheque was given?
You deposit the cheque in your bank. Let it return with bank note that account closed. It amounts to same as insufficient funds. With bank returned memo you can file case on section 138.
As such, in a judgement Supreme court held that, When the cheque is returned by a bank with an endorsement account closed, it would amount to returning the cheque unpaid because the amount of money standing to the credit of that account is insufficient to honour the cheque as envisaged in Section 138 of the Act.
Alternatively, If you have promissory note, you can file criminal complaint and file a civil suit, instead of using 138 proceedings.
You deposit the cheque in your bank. Let it return with bank note that account closed. It amounts to same as insufficient funds. With bank returned memo you can file case on section 138.
As such, in a judgement Supreme court held that, When the cheque is returned by a bank with an endorsement account closed, it would amount to returning the cheque unpaid because the amount of money standing to the credit of that account is insufficient to honour the cheque as envisaged in Section 138 of the Act.
Alternatively, If you have promissory note, you can file criminal complaint and file a civil suit, instead of using 138 proceedings.
Helpful?
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Hello,
Kindly deposit the cheque into to your bank account by filling the current date and the bank will issue rerun memo stating the reason for cheque bounce.
Now you can issue notice as per Negotiable Instruments Act under Section 138 and demand him to pay the dues within 15days from receipt of your notice failing which he is liable to be prosecuted under the NI Act.
Kindly deposit the cheque into to your bank account by filling the current date and the bank will issue rerun memo stating the reason for cheque bounce.
Now you can issue notice as per Negotiable Instruments Act under Section 138 and demand him to pay the dues within 15days from receipt of your notice failing which he is liable to be prosecuted under the NI Act.
Helpful?
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YOU have to file a cheque bounce case against him and then you can recover your money it may take time but your money will be secured
R.J.Parthasarathy
Advocate
R.J.Parthasarathy
Advocate
Helpful?
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