give material amount of rs 550000/- but party coudnot pay payment.

given cheque amount of rs 550000/-was bounce. 2months completed. what can i do my money back ? wich action taken

Answers (3)

250 votes

You will have to get it bounced again. After that you will have to send him notice u/s.138 of the Negotiable Instruments Act, 1881. It is a notice of 15 days. If during those 15 days, if payment is done, you can file criminal complaint before magistrate.

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318 votes

Pls issue a legal notice for the dishonour of the cheque amount upon issuance and receipt of the same the issuer of the cheque will be granted time to pay back the money lent to him and upon failure to do so you will be entitled to file a criminal complaint in the magistrate court

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322 votes

you can again deposit the cheque and get bounce and then you can go for 138 matter for recovery of money
it will be beneficial for you to re bounce the cheque
and other option is you can go for summary suit and get you money recovered both option are speed in nature

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