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What is the best remedy in case of cheque bounce
12-Jul-2023 (In Cheque Bounce Law)
I have deposited a cheque which has bounced recently. The payer keeps on responding he will make the payment saying one or two days later and I personally think he is not gonna pay. Now I would like to know what would be my option here. Is it better to register an FIR or send a legal notice under 138 NI act. And can I demand interest or extra penalty if I file a case against him?
Hi!
Since your cheque which has been deposited in your bank in discharge of legal liability occurred by the drawee / payer dishonoired, you are under law to issue him the demand notice through advocate for return of cheque amount alongwith 18% interest thereon within 15 days of notice.
Thereafter 15 days, if not paid you can file 138 N.I.Act proceeding in magistrate court within the jurisdiction as per your local police station where you have deposited the cheque by paying appropriate court fees.
Yes there is provision as penalty to pay the complainant as double of the amount.
Since your cheque which has been deposited in your bank in discharge of legal liability occurred by the drawee / payer dishonoired, you are under law to issue him the demand notice through advocate for return of cheque amount alongwith 18% interest thereon within 15 days of notice.
Thereafter 15 days, if not paid you can file 138 N.I.Act proceeding in magistrate court within the jurisdiction as per your local police station where you have deposited the cheque by paying appropriate court fees.
Yes there is provision as penalty to pay the complainant as double of the amount.
Helpful?
39+
39+
Adv. M.A. Rahman
Mumbai | 100+ Answers
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138 n i act is the best remedy for the cheque bounce matter.
First of all we have to send legal demand notice for the repayment of cheque amount similarly we can demand compensation.
As well as we can file a criminal complaint against him as per section 420 of IPC and we can file criminal case against him
First of all we have to send legal demand notice for the repayment of cheque amount similarly we can demand compensation.
As well as we can file a criminal complaint against him as per section 420 of IPC and we can file criminal case against him
Helpful?
36+
36+
Adv. Anis Momin
Pune | 200+ Answers
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