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In response to notice received under section 17 of interim orders.
06-Mar-2023 (In Banking / Finance Law)
I was using a kotak credit card, but due to my job loss and financial crunches i was unable to make payments but i kept on paying them their minimum dues. They removed my account from online application through which i was getting information regarding my outstanding amount and also the statement they used to send that was also not accessible because of wrong password set. Now they had sent me a legal notice under section 17 of interim orders and i m not aware what to do.. Please help
Dishonor of cheque or cheque bounce occurs when a cheque that is presented in the bank is returned unpaid. It could occur due to insufficient funds in the bank account of the person who issued the cheque or if the signatures on the cheque do not match with the original signature of that person. You can proceed against the person who has issued such a cheque under various provisions of law. The most important and useful provision to consider is Section 138 of The Negotiable Instruments Act. I will help you
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