Sir I have Gaven cheque to someone, and that have bounced
30-Sep-2023 (In Cheque Bounce Law)
Sir I have Gaven cheque to someone for 49000, 2 months back due to my personal problem I not have required balance in account the cheque was bounced 2 months back, now that person now blackmailing me that he will put case on me, Sir is that cheque is till valid, is there any chance
Hi
Under negotiable instruments act, the person has to issue you a legal notice for bounced cheques and you get about 15 days to make payment of cheque amount.
Alternatively, since 138 Negotiable instruments act is compoundable, you can make payment of cheque amount plus 8% per annum interest on the day you appear in the court (after receipt of court summons)
No worries.
Under negotiable instruments act, the person has to issue you a legal notice for bounced cheques and you get about 15 days to make payment of cheque amount.
Alternatively, since 138 Negotiable instruments act is compoundable, you can make payment of cheque amount plus 8% per annum interest on the day you appear in the court (after receipt of court summons)
No worries.
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