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Legal action for a cheque bounce that took place 9 years back


08-May-2023 (In Cheque Bounce Law)
i have bounced cheque from a client dated 2009 how to take legal action
Answers (1)

Answer #1
708 votes
Before initiating any legal action you are requested to consider the following
1) Any debt is legally enforceable only it such debt is claimed within 3 years after default provided it is not a continuing one.
2) A cheque /negotiable instruments is valid only for 3 months from the date of issue as per negotiable instruments act as per the recent amendment.
So as per note 1) you loose your right to collect you legally enforceable debt.
As per note 2) you loose you right to file compliant against the accused under N.I Act.
Hence though the amount due is legally enforceable, it is a time barred debt.
This is the legal position as on today.

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