Advocate Sai Kumar Srirangam

Questions Answered by Advocate Sai Kumar Srirangam (25+ answers)

Q: Cheque bounce hua hai .aage iska procedure kya hai

Kya cheque bounce case karne per paisa recovery hota hai?

Advocate Sai Kumar Srirangam answered
Cheque Bounce Case – Legal PositionIf you have a valid cheque issued by the opposite party towards a legally enforceable debt or liability, and the cheque has been dishonoured by the bank, you can initiate proceedings under Section 138 of the Negotiable Instruments Act, 1881, subject to complying with the statutory requirements and limitation periods.The usual procedure is:1. Obtain the bank’s cheque-return/dishonour memo.2. Issue a statutory legal notice to the drawer of the cheque within the prescribed period.3. Give the drawer the statutory period to make payment after receiving the notice.4. If payment is not made within that period, file the cheque-bounce complaint before the competent Magistrate within the prescribed limitation.5. During the proceedings, the Court may award appropriate compensation in accordance with law.However, filing a cheque-bounce case does not automatically guarantee immediate recovery of the entire cheque amount. The case has to be properly established, including the existence of the cheque, its dishonour, legally enforceable debt/liability, proper statutory notice and compliance with the prescribed timelines.Therefore, before filing, I will examine the original cheque, bank return memo, underlying transaction/debt, invoices or agreements, payment records, correspondence and notice details and advise you regarding the appropriate legal remedy.If the documents establish the liability, we can proceed legally for recovery/compensation through the cheque-bounce proceedings and take appropriate additional recovery measures wherever legally available.

Q: How To Get My Money Back What Rules Are There

If the cheque has bounced how to get back money what are the ways what to do and how to get it back from

Advocate Sai Kumar Srirangam answered
If a cheque has been dishonoured, you have the right to initiate legal action under Section 138 of the Negotiable Instruments Act, 1881. As per the Act, first issue a formal demand notice to the drawer within 30 days of receiving the cheque return memo, demanding the cheque amount within 15 days.If the drawer fails to make payment within the stipulated time, you may file a criminal complaint under Section 138 NI Act before the competent Magistrate. On conviction, the accused can face imprisonment up to two years, or a fine up to twice the amount of the cheque, or both. The procedure and timelines prescribed by law must be strictly followed for effective remedy.