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Clarification on recovery of amount in cheque bounce cases
06-Aug-2023 (In Cheque Bounce Law)
I have already filed compliant in court, I just want to know how to I get money if drawer does not have money/property for recovery? If court gives imprisonment to drawer still I get money?
If the accused is proven guilty then under Negotiable Instruments Act, at the most accused may be imprisoned...but you may not get any single penny unless u file any civil suit for recovery of the amount or attachment before judgment case respectively.
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Sir,
NI Act only punish the accused only. recovery of amount only find in the money suit. you have to give money to the person who can pay back. if you give money to the person who has no property or to the person who has money court is not responsible to recovery,
NI Act only punish the accused only. recovery of amount only find in the money suit. you have to give money to the person who can pay back. if you give money to the person who has no property or to the person who has money court is not responsible to recovery,
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It will be considered as bad debt for you and the drawer will be surrender in the court with insolvency, so he/she could not find any other alternates to pay the money and you will be the loss for money given.
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Adv. Sharath Chandra Murthy
Hyderabad | 100+ Answers
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Dear,
If you win the cheque bounce case, the court will either order for imprisonment of 2 years for the accused or direct the accused to pay the double the cheque amount to you. If the accused does not have money/property, it will become difficult for you to get back the money from the accused. If the court sentences the accused for imprisonment, the accused, if willing to settle with you, he may settle the amount by compromising with you and if the accused is ready to go to jail, you lose your money.
If you win the cheque bounce case, the court will either order for imprisonment of 2 years for the accused or direct the accused to pay the double the cheque amount to you. If the accused does not have money/property, it will become difficult for you to get back the money from the accused. If the court sentences the accused for imprisonment, the accused, if willing to settle with you, he may settle the amount by compromising with you and if the accused is ready to go to jail, you lose your money.
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Adv. B. Srikiran
Hyderabad | 500+ Answers
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