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What are laws for Cheque bounce when account is closed?
19-May-2023 (In Cheque Bounce Law)
I have closed my bank account in 2005 but I had handed a cheque as security to my friend and he had presented cheque to bank in 15-1-2017and cheque returned with bank endorsement account. Closed and same not intimated to me later he again present cheque for second time on 20-2-2017 with bank endorsement 'account closed'second time. Can he file case against me once bank account closed and it cannot be again opened by same bank as bank manager told to open new account. So does 138 attract to me. How
Filing a case cannot be stopped by any one. However if such a complaint will succeed is the question to be answered. To our experience the complaint will be dismissed provided effective cross examination is conducted.
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Adv. Kumar Ram CM
Bangalore | 25+ Answers
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You have to issue notice to your friend stating that u had issued cheque as security and not towards any debt or liability. But cheque has been presented twice and bank endorsement is Account Closed. Once the account closed is closed and it cannot be opened again or in future so first time cheque bounce notice given will attract provisions of 138 negotiable instrument act and you will be punished so if no notice is issued for first endorsement then presented second time and account closed then you have a good case since second cause of action arise limitations starts and account cannot be opened so get a good advocate for cross examination and u will certainly win the case as when account closed second time presentation is fatal to his case. So u succeed
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Adv. Nagesh B L
Bangalore | 200+ Answers
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The reason ' account CLosed ' is by way of several judgements is treated in the same catagory as that of ' insufficient funds', and gives rise to same right to the drawee as the latter one. To know how, you need to go through those judgements. The fact whether the cheque was issued for discharge of a surviving legal obligation from the accused towards the complainant will be the vital matter.
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Adv. S.K Prabhakar Shetty
Bangalore | 500+ Answers
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