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What is the next step if a cheque is bounced
14-Apr-2023 (In Cheque Bounce Law)
one person give me two cheques of amount 4 lakh fifty thousand. but the cheques are bounced. now what I have to do.
If the cheque has been bounced for insufficient fund then keep the cheque returning memo carefully .You are required to serve a demand notice on the person asking for the amount in question within three weeks . Incase he fails to repay a case can be filed in district consumer forum . PL consult a local advocate immediately.
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Adv. GK Gupta
Guwahati | 100+ Answers
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1st Collect the memo issued by the payee bank and if the said memo indicate non-payment due to insufficient funds, immediately issue notice to the defaulting party intimating about the cheque dishonour and demanding the amount within 15 days.
If the party fails to pay, initiate a complaint case in proper court under the right provision of law.
Please note there are fixed time periods prescribed in law for every step you take after the checque is bounced. My advice is that You should talk to your lawyer immediately without any delay. You may write again to get details about filing the said case.
If the party fails to pay, initiate a complaint case in proper court under the right provision of law.
Please note there are fixed time periods prescribed in law for every step you take after the checque is bounced. My advice is that You should talk to your lawyer immediately without any delay. You may write again to get details about filing the said case.
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Adv. Lahul Hussain Hazorica
Jorhat | 25+ Answers
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After the bounce stage u send him a legal notice immediately. If he dsnt reply within the prescribed time then u can initiate an case.... and both parties will be heard..... submit all the documents. After collection of evidence the court will come to a conclusion; you will get the double amount
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Adv. Abdul Halim
Dibrugarh | 100+ Answers
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