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Cheque bounced because of insufficient funds how much to recover?
14-Mar-2023 (In Cheque Bounce Law)
2 chqs for 16000/- issued to me have bounced citing insufficient balance as the reason. i understand the procedure is legal notice with in 30 days of bouncing & move Court if no response in 15 days. My question : What is the maximum money that I can claim on whatever grounds i.e. 300%-400% etc. & can I insist on 6 months jail for the guy not wanting to settle & make serve imprisonment for the damage to my reputation with my banker. Please enlighten & guide.
42+
Adv. Nupur Sachdeva Singh
Delhi | 100+ Answers
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Therefore in case he is convicted, he can be directed to pay you twice the amount which the cheque was amounting to.
The sentence which he shall be imprisoned to shall stand to be a maximum of two years . However the exact period of sentence shall be decided after a separate argument is heard with respect to the quantum of the sentence.
37+
Adv. Augustine Chatterjee
Delhi | 25+ Answers
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