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I issued cheque which got bounced want more time to pay
01-Mar-2023 (In Cheque Bounce Law)
Has issued a cheque to a debtor who's cheque was bounced due to non availabilty of fund on time in my account. i have recieved a legal notice from debtor's lawyer asking to pay immediately failing which section 138 & 141 will be charged on me. I need time of 6months to clear my debtor's outstandings as i neither have any avaialble funds at the moment nor i will be able to arrange atleast before 5months from now. Plz advice
You were supposed to make a payment, but since you have failed in doing so, the other person can initiate a section 138 case of NI act / cheque bounce against you. The process of filing a cheque bounce legal proceeding starts by sending a legal notice. Once you receive the legal notice and fail to pay within 15 days of receiving the legal notice, the person may file a case under section 138 NI act against you and another case under section 420 of IPC. But you can reply to the legal notice asking for more time and if case is already filed you can plead in front of the court to allot you some more time to repay the amount.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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