Post dated cheque given for goods which bounced. How can i recover?
One party has purchased materials from my firm for Rs.3 lacs and given me two post dated cheques for Rs.1.5lacs each. The cheques bounced and the party is not available on the addresses given. By enquiry it was revealed that this party has eloped after befooling many parties like me and are absconding with more than Rs.80 lacs.
Is there any source by which I can locate this party? Alternately, what can I do to get my money back?
There is a procedure in Criminal Cheque Bounce cases under Section 138 Negotiable Instrument Act.
You need to follow the same procedure as mentioned under Section 138, NI Act. The first step is to issue a Legal Notice, failing which you need to file a case. The court sends a notice on the address of the defaulting party provided by the litigant and in case the defaulting party is not available on the mentioned address, arrest warrant is issued and the Police searches the party at the given address. The Police also checks the whereabouts of the party from the local people residing there. Further, if the party is still not traceable, the party is declared as Proclaimed (Bhagora in Hindi).
Once this happens, you will get the PO (proclaimed orders). In future, in your whole life time, whenever you get any clue of the party's residence in any state of india, you can show those PO orders to the concerned Police Station and get the party arrested. Due legal recourse for recovery of the due amount is initiated thereafter.
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