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In case of cheque bounce what is the procedure
12-Jul-2023 (In Cheque Bounce Law)
i have 2 cheques cheque1 is 1 lakh rupees(date of cheque july 29) and cheque2 (date of cheque Aug 12) is 61000 rupees ,if the cheque is bounced what is the process i can do to send a legal notice?
In case of cheque bounce, demand notice must be sent within 30 days from the date you found out that the cheque issued to you has bounced. There is no prescribed format for this notice. Its purpose is to demand payment and inform the issuer that he or she will be prosecuted if payment is not made within 15 days.
If you do not receive payment even after 15 days then you need to file a case within 30 days with the magistrate under section 138 of Negotiable Instrument Act.
If you do not receive payment even after 15 days then you need to file a case within 30 days with the magistrate under section 138 of Negotiable Instrument Act.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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Learn what should be & what shouldn't be done in case of a bounced cheque with this complete guide for Indian Laws on cheque bounce.
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