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What is the procedure of cheque bounce
18-Mar-2023 (In Cheque Bounce Law)
How to file cheque bounce case and where to file it? i had loaned some amount to my office colleague as he promised to repay an interest of 3 percentage monthly. After an year, due to some personal reasons when i had requested him to return the total amount, he is not paying it. i currently have the following with me. 1) cheque which is returned 3 times due to insufficent funds reason. 2) promisory note with the details
Dear Client,
Within one month from the date of dishonour of cheque you must issue Legal Demand Notice by engaging an expert advocate to his correct address. After giving fifteen days times for repayment of dishonoured cheque amount, if the opposite party did not pay the dishonoured cheque amount you must file a criminal complaint for his punishment before a magistrate court by engaging an advocate and he will assist you.
Within one month from the date of dishonour of cheque you must issue Legal Demand Notice by engaging an expert advocate to his correct address. After giving fifteen days times for repayment of dishonoured cheque amount, if the opposite party did not pay the dishonoured cheque amount you must file a criminal complaint for his punishment before a magistrate court by engaging an advocate and he will assist you.
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Adv. Sistla Rama Krishna
Vijayawada | 400+ Answers
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Firstly the cheque should be presented within three months from the date of cheque. Within three months it can be presented any number of times. You cannot present again after you issue the statutory notice under section 138. You should issue notice demanding repayment of cheque amount within one month from the date of intimation received from the bank regarding dishonor of the cheque. Even after receiving the notice if drawer does not pay the amount within 15 days as specified then the complaint can be filed within one month from the date of expiry of 15 days . You say you also have a Promissory note then you can also file a civil case for recovery of amount along with interest on the basis of PN simultaneously aling with cheque bounce case.
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Adv. C Hari Prasad
Nizamabad | 100+ Answers
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The cheque has to be presented within prescribed period of validity. Once dishonoured you have to issue Statutary Notice within one month of receipt of notice of dishonoured to repay the cheque amount within 15 days. It he does not pay you can file complaint within 28 days after the expirey of 15 days notice. The case will be decided by the court after trail.
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