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Can arbitration and cheque bounce case file at similar time
10-Jul-2023 (In Cheque Bounce Law)
Can the finance company file a cheque bounce case and arbitration at the same time?
Depends. Cheque bounce can be filed if you gave a cheque for a legally existing debt and that got bounced due to insufficient funds in your account or due to payment stopped by you. Whereas an arbitration case would be filed for a breach of contract.
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Adv. Aditya Jain
Jaipur | 25+ Answers
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both are parallel remedies and can be done .....
because cheque bounce is criminal offense..
in cheque bounce case only amount of cheque bounced can be claimed but arbitration will cover complete dispute and claim.
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Adv. Vedant Bajaj
Jaipur | 25+ Answers
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Yes, both the proceedings can be initiated at the same time. Both arbitration proceedings and proceedings under negotiable instruments act are separate remedies and can be availed to recover the pending amount/ loan.
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Adv. Devvrat Singh Raghav
Jaipur | 25+ Answers
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