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Procedure for the proceedings of cheque bounce.
03-Nov-2023 (In Cheque Bounce Law)
the matter is for Rs 30 lakhs.complainant claims to have paid in cash.is it acceptable under indian law or he has to show the source of the loan amount
Section 138 and section 142 of negotiable instrument act the following essentials must be there
1.one person (payer)has to give a valid cheque to to other person (payeee)
2.the payee should produce the cheque with in six months.
3. If the cheque got bounce he has to taken acknowledgement from the bank
4. With in 1month notice should be given and 15 days time is to be given for payment
5.in he fails to pay even after 15 days notice ,with in 1month a complaint should be loged in the court
1.one person (payer)has to give a valid cheque to to other person (payeee)
2.the payee should produce the cheque with in six months.
3. If the cheque got bounce he has to taken acknowledgement from the bank
4. With in 1month notice should be given and 15 days time is to be given for payment
5.in he fails to pay even after 15 days notice ,with in 1month a complaint should be loged in the court
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Adv. Marripati Maharshi Viswaraj
Hyderabad | 25+ Answers
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Sir/Madam, Cheque is a negotiable instrument and the complaint under Sec.138 of NI Act for grounds such as In sufficient funds, dormant account, etc, only the complaint is tenable and even the complainant need to prove/establish to the satisfaction of the court, beyond reasonable doubt, the source of Income as well, as per the decisions of the Supreme court. Sec.138 is tenable only if the cheque has been issued towards the discharge of the "legally enforceable debt only" and not otherwise... Regards... Adv.Balachander Reddy,B.Com,LL.B,LL.M IPRs.
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Hi,
First your query is not in detail and complete, first you to post the complete description and details of your case , i am not able to understand your case is cheque bounce case or recovery of money ,
First your query is not in detail and complete, first you to post the complete description and details of your case , i am not able to understand your case is cheque bounce case or recovery of money ,
Helpful?
18+
18+
Adv. MA Raheem Khan
Hyderabad | 200+ Answers
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