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Legal procedure when cheque bounce case is filed.
14-Mar-2023 (In Cheque Bounce Law)
A business partner offered to help me with monies and drew a cheque which was dishonoured by the bank for insufficient funds then is it an offence under section 138 of NI Act,1881
The person has not mentioned whether he is victim or accused. The legal proceedings start with issue of notice. If the amount is small then it can be paid to avoid legal circumstances. The sec 138 NIA important.
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Adv. Murali Krishnan Sanjeevi
Chennai | 500+ Answers
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As per S.138 of NI Act, demand/legal notice should be send within 30 days from the date of intimation from the bank regarding the dishonour of cheque.
On receipt of the demand notice by the accused. 15 days time to be given for repayment of cheque amount.
If the cheque amount is not repaid even after 15 days time, Criminal Complaint has to be filed before the appropriate jurisdictional Magistrate within 30 days from the expiry of the earlier said 15 days.
On receipt of the demand notice by the accused. 15 days time to be given for repayment of cheque amount.
If the cheque amount is not repaid even after 15 days time, Criminal Complaint has to be filed before the appropriate jurisdictional Magistrate within 30 days from the expiry of the earlier said 15 days.
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Adv. Pooja P
Chennai | 25+ Answers
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Yes, a cheque bounce comes under 138 NI Act. Make sure you issue a Legal Demand Notice within 30 days from the date of receiving the memo. Do not take the risk of sending it yourself. Make use of an advocate who can make sure your requirements are met properly. Ensure that you mention how the debt is legally enforceable. A Legal Demand Notice decides the verdict of the case in the long run.
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Adv. Sathya Narayanan Subramanian
Coimbatore | 200+ Answers
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