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how will I be compensated for loss in cheque bounce case
07-Nov-2023 (In Cheque Bounce Law)
I lent Rs 4.5 Lakhs to a friend without any interest. The whole money amount of 4.5L was transferred through the net banking facility in 6 transactions and a loan agreement & promissory note have been made. He provided a cheque of worth 4.5L. Now the same cheque is bounced. He is delaying the payment unnecessarily. If I file N.I 138, is it possible to recover the money ? whether the bail bond/security provided by the defendant in court shall be awarded to me to compensate my loss ? And how much it will be ?
If after the trial you are found to be a victim of cheque bounce, the court will award compensation to you to the extent of cheque amount plus some more money depending upon the judgement of the judge. The accused would be levied fine out of which your compensation would be paid.
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Raghavendra Rao B.K.
Bangalore | 200+ Answers
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