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Full and final settlement cheque bounced. Co. closed. How to recover?
01-Oct-2023 (In Cheque Bounce Law)
hi, I would like to know what's the success ratio on winning a chq bounce case and do cases in this matter take a long time to give a verdict. I am asking this as I have a salary chq (FnF) which i recieved after 6 months of leaving the company, now the chq has bounced as he(owner) has closed the bank account and the company too is shut. There are more 6-7 employees who were issued chq's and now are stranded. We all come from a middle class background. Kindly advise
Cheque bounces cases are disposed of relatively quickly now after the goverment issued the Negotiable Instruments Amendment Ordinance, 2015 which has clarified certain issues of jurisdiction.
If the salary was due to be paid to you then I see no reason why you would not win your case. The penalty amount in such cases can go up to twice the cheque amount.
Do note that in order to file a cheque bounce case you need to send out a demand notice within 30 days of the cheque having bounced. If the cheque amount is not paid to you within 15 days of the notice, you can approach the courts and file your case.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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