2 cheques got bounced against a loan what are the chances under 138

Two cheques of Rs. 95000+100000 got bounced against a loan. Please let me know what are chances of getting the amount from the payee under section 138.

Answers (5)

186 votes

Hello Client,
i have read your query in which your question stand wheather you can claim the amount from the payee as his cheque got bounnced , in this condition you can claim your money from the payee through 138 NI ACT in which you will get double of the amount of which the cheques got bounced as well as you the payee if found guilty then he have to go for imprisionment of two years,its depends on you how you want to fight the case.that is for sure the money will get recovered.

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264 votes

Please tell the time when your cheque got dishonoured. You have to send a legal notice within 30 days after receipt of return memo. Proceedings in dishonour of cheque is time barred so please send a legal notice through your lawyer as soon as you can after receipt of return memo.

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52 votes

You have very good chance of recovery. Usually the opposite party will settle after legal notice. Otherwise also punishment under the Act is twice the cheque amount and simple imprisonment. You have all likely-hood of succeeding.

190 votes

You need to issue a legal-cum-demand notice in the name of Payee within 30 days from the date of return memo stating that the said amount needs to be repaid within next 15 days.
If the Payee fails to pay the requisite amount within the expiry of 15 days then you may file a criminal complaint before the requisite court for his default within next 30 days.
Do remember that the time limit is to be strictly followed in cases of dishonour of cheque under Section 138 of the NI Act.

If you have failed to abide by the time limit, then you may file a summary civil suit for recovery of money under Order 37 of the CPC.

256 votes

Cheque bouncing under any condition is a crime . Approach a lawyer advocate as soon as possible and file a criminal complaint u.s138. any type of delays in this matter will be a total loss for you. If u wish contact us for the said matter.

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