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Procedure of cheque bounce
13-Feb-2023 (In Cheque Bounce Law)
What is the procedure of chque bounce and how much penalty court imposes upon the issuer
Dear client u have to send legal notice through lawyer within 30 days from cheque bounce date. If other party not make payment then have to file case under sec 138 of n i act. Court wi'll impose double amount as penalty. For any legal help call me
Adv Prasad Patil
Pune
Adv Prasad Patil
Pune
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upon return of cheque being unpaid, you need to issue a legal notice within 30 days from the date of cheque bounce demanding the payment of cheque amount and thereafter the issuer has an opportunity to pay the amount within 15 days from the date of receipt of legal notice. If he does not make the payment within 15 days you can file a complaint before a competent Court. The maximum punishment is imprisonment up to two years or/and a penalty up to Rs. 10,000/- or both and compensation two times the cheque amount.
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Adv. Satish Kumar
Hyderabad | 100+ Answers
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