×

quesCheque issued to me bounced. Payment pending. What can be done?

A broker was supposed to pay me Rs.87000 and issued a cheque against the payment but it bounced 3 times and expired in Dec-13.



 



Still the payment is pending with him. How should I proceed?

  • ans

    I understand that some broker had to pay you Rs. 87,000 through cheque but the same didn't work and could not discharge the liability of your funds. You presented the cheque 3 times but you did not initiate the legal proceedings against the same.

     

    The Onus lies on your part and now the liability of check has been moved out of the limitation boundary to become a criminal complaint under section 138 negotiable instrument act. This means you cannot initiate criminal proceedings u/s 138 but you can definitely file civil suit of recovery of funds which is as good and powerful legal proceeding as it was u/s 138 NI act.

     

    Civil recovery of funds go like fast track courts and you can get back your funds within 4-5 dates but now the disadvantage is that you have to pay 2.5-3.0% court fee on the suit amount, like if the suit amount is Rs. 1 lac then the court fee will be Rs. 2,500-3,000 which you need to pay in the court as court fee.

     

    In case the legal action has been initiated earlier (before the expiration of the cheque), under section 138 NI act you would not have had to pay anything as court fee.  Also, now there is no penal punishment suggested by IPC in civil suit of recovery of funds but in case of early action it could have been 6 months to 1 year imprisonment under criminal 138 NI act.

     

    So go ahead and file civil suit of recovery of funds and you will definitely get your funds by the same.

  • Send/Reply To Legal Notice For Cheque Bounce With Expert Lawyers
    Know More

    Click here to see all Cheque Bounce Legal Services
  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Cheque Bounce Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
  • Related Articles

Consult best Cheque Bounce lawyers in India

Similar questions

one person forceably took cheque from me. what can I do to prevent him to…

I have received Non Bailable warrant on my name from HDFC bank. Since I did…
I am a business man and I have given material to a customer. He has…
Hello sir , my father has already informed the bank abt the loss of cheque…

Cheque Bounce Lawyers in India

Advocate Nagesh B L

  Nagarathpete
 Experience: 23 years


Advocate Prashant Mendiratta

  Lajpat Nagar 4
 Experience: 24 years


Advocate Jaspreet Singh Rai

  Greater Kailash 1
 Experience: 14 years


Advocate Harish Malhotra

  District Court
 Experience: 19 years


View all >>