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What are steps taken once the cheque is bounced
16-May-2023 (In Cheque Bounce Law)
I have given 4.5 Lakhs to a person,He committed to arrange bank loan in Bangalore But he failed and he is not returning the Money which i have given to him in Hand. After numerous follow up with him,He had given cheque(His company name cheque) which will be expired next month. Can I bounce the cheque,what are the legal option I have to retrieve my money.
Yes you can present cheque for encashment and if it is bounced you can take legal action for dishonour of cheques against him by contacting advocate to issue legal notice for dishonour of cheques against him and later file private complaint under section 200 of code of criminal procedure read with section 138 of negotiable instrument act against him and claim compensation under section 357 of code of criminal procedure double cheque amount so meet after dishonour of cheques to an advocate for money.
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Adv. Nagesh B L
Bangalore | 200+ Answers
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Consult and discuss more and is it CTC Cheque or old cheque , required the cheque and details, consult and file a suit after bouncing the cheque and and Bank memo is required for sending legal notice before filing the suit. Consult and get relief.
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Adv. Sharanagouda S. Patil
Bangalore | 200+ Answers
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You are having three legal options to retrieve your money, one you can give a police complaint for cheating second you can file civil suit for recovery, third file a case under section 138 of NI Act, Second you can on dishonour of a cheque but law can only help you to some extent. It does not get your money back.. You have to find him, find his assets, attach them. If he does not have means to repay, or successfully hides his means, your money is gone.
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Adv. S.K Prabhakar Shetty
Bangalore | 500+ Answers
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immediately ask him to pay the amount. if failed present the cheque in the bank and get endorsement. after receiving endorsement from the bank issue legal notice and file cheque bounse case against him
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Adv. Govindaraju K
Bangalore | 100+ Answers
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