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Cancelled booking received cheque but the cheque bounced what can I do
05-Jul-2023 (In Cheque Bounce Law)
hi i have booked an apartment with a builder but with in a month i have cancelled the booking. builder told he will return the booking amount only after 45 days and they issued a cheque. when the cheque was presented it is not cleared due to the reason insufficient fund. i called him and asked the reason, builder told to represent it after 3days.but i have insisted him to provide new cheque or fund transfer. now can you please advice how to take legal action if builder doesn't re issue new cheque or pay me the money. cheque amount is 1lacs
A cheque is valid for a period of three months from the date mentioned on it. You may present the cheque to the bank any number of times. If you have received back the cheque unpaid for the reason of 'insufficient fund', you have to file a cheque bounce case in the jurisdictional magistrate's court. Before filing the case, you need to issue a legal notice to the builder calling upon him to make good the cheque amount by cash or DD within 15 days from the date of receipt of your legal notice. If he does not make payment, nothwithstanding any reply he issues, you may file the case within one month from the date of receipt of his reply. If he does not reply, you need to file the case within 45 days from the date of receipt of your legal notice by him. Time factor is more important in cheque bounce cases.
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Raghavendra Rao B.K.
Bangalore | 200+ Answers
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