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Cheque Retunred Due to No Cash
24-Jan-2023 (In Cheque Bounce Law)
Hi ,
I received a cheque from builder for possession delay of my flat.
I tried to deposit that money to my NRO account , but bank asked me for letter from builder as a proof of source.
Since builder was not providing that I went to en-cash that check, but It was returned due to low balance.
As per cashier at the counter the check technically did not bounce as I tried to cash that check instead of transferring money to my bank account.
Now builder is not giving me any concrete answer w.r.t. delayed payments.
What should be my course of action?
Thanks
Prasad
Dishonor of cheque or cheque bounce occurs when a cheque that is presented in the bank is returned unpaid. It could occur due to insufficient funds in the bank account of the person who issued the cheque or if the signatures on the cheque do not match with the original signature of that person. You can proceed against the person who has issued such a cheque under various provisions of law. The most important and useful provision to consider is Section 138 of The Negotiable Instruments Act. I will help you
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