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Cheque bounce cheque dishonour law
05-Dec-2024 (In Cheque Bounce Law)
Cheque got bounced kindly help me out ...Please guide what are solutions . Cheque is of 5 lakhs. want to recovery money
Hello Sir/mam
You can File case under NIA .
REST depends on the matter .
You can contact me over phone call for further assistance...
Thank you
Regards
Advocate Kuber Hooda
Punjab and Haryana high court
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Adv. Kuber Hooda
Panchkula | 700+ Answers
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Greetings for the day,
In this situation you have to proceed under provisions of Section 138 of NI Act.
Firtly you have to send a legal notice to the opposite party within 15 days of receiving of return memo and then after 15 days of time, you have to file a complaint before the magistrate, In order to get your money back.
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Adv. Deepak Sharma
Faridabad | 200+ Answers
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Sir, For dishonour of cheque you can file case under section 138 of NI Act wherein there is a provision of upto 2 years imprisonment and fine of double the cheque amount. For more information you can contact us.
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Adv. Rakesh Kumar Singla
Jind | 25+ Answers
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If a cheque bounces due to insufficient funds, the drawer can be held criminally liable under Section 138 of the Negotiable Instruments Act. The drawer can be punished with a fine of up to twice the cheque amount, imprisonment for up to two years, or both. The court can also sue the drawer for the amount on the cheque.
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Adv. Ankur Thakran
Gurgaon / Gurugram | 100+ Answers
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To recover money from a bounced cheque of ₹5 lakhs, you can follow these steps:
1. Send a Legal Notice: Issue a legal notice to the drawer of the cheque within 30 days of receiving the dishonored cheque memo, demanding payment within 15 days.
2. File a Complaint: If the drawer fails to pay within 15 days of the notice, file a case under Section 138 of the Negotiable Instruments Act within 30 days.
3. Civil Recovery Suit: You may also file a civil suit for recovery of the cheque amount under Order 37 of the CPC for a summary procedure.
Let me know if you need help drafting the legal notice or filing the case.
Adv. Mahinder Singh Mavi
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Adv. Mahinder Singh
Faridabad | 100+ Answers
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