Can a cheque given as security be considered U/S 138
Answers (1)
You can file the case U/s.138 of Negotiable Instrument Act. As your friend have borrowed the money from you assuring that he will return the same. In exchange he has given you the cheque which got bounce. So as early as possible send the notice to the person within the 45 days of the date of return of the cheque. Send legal notice via advocate in your area. If he doesnot reply within 15 days of the notice issued. Civil case can be filed against him.
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