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What to do investor cheque bounced
02-Jul-2023 (In Cheque Bounce Law)
Hello. A investor made an agreement to invest in our event . we made agreement for the same. He has transferred only 15% of amount he agreed to invest. He asked us to take finance before the event so that event will not be cancelled. So we took finance. We made another investment agreement that investor will pay the finance with interest. Now he is not paying the finance money, Interest and remaining 85% of investment. Investor gave 4 cheques but bounced due to insufficient funds. We have all the documents and accounts related to event. What kind of legal action can be taken.
dear user ,
You can file criminal case on the investor if you have sufficient documents with the given period of cheque ounce you did not mention the amount and the date of or number of days when you have submitted the checque
You can file criminal case on the investor if you have sufficient documents with the given period of cheque ounce you did not mention the amount and the date of or number of days when you have submitted the checque
Helpful?
19+
19+
Adv. Jaya Sree
Hyderabad | 100+ Answers
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Cheque is a negotiable instrument . If the cheque/s is / are dishonuired for want if insufficient funds in bank account etc, a demand legal notice by AN Advocate should be sent within 30 days from date of Cheque bounce to the person who has issued such cheque.
Sending of demand legal notice within 30 days is mandatory, to file a Cheque dishonour case.If the demand legal notice is sent even after 31st day it is not valid.
Hence immediately send a legal notice and give mandatory 15 days of time to pay the cheque amount if not you immediately file a ccheque bounce case which is a Criminal case.
Simultaneously a civil case can be filed on the basis of agreement of sale.
Hence this is for your information.
Thank you..
Sending of demand legal notice within 30 days is mandatory, to file a Cheque dishonour case.If the demand legal notice is sent even after 31st day it is not valid.
Hence immediately send a legal notice and give mandatory 15 days of time to pay the cheque amount if not you immediately file a ccheque bounce case which is a Criminal case.
Simultaneously a civil case can be filed on the basis of agreement of sale.
Hence this is for your information.
Thank you..
Helpful?
13+
13+
Hi
Hopefully there is a binding agreement between you and the investor.
In general investments are not debts and hence if you choose to file a cheque bounce case, chances are that you might not win the case.
However you can file a suit under specific relief act as
a) The investor had issued you post dated cheques.
b) Based on his commitment, you had availed loans from outsiders and
Ask the investor to fulfill his commitment along with interest and also sue him for damages(compensation)
Hopefully there is a binding agreement between you and the investor.
In general investments are not debts and hence if you choose to file a cheque bounce case, chances are that you might not win the case.
However you can file a suit under specific relief act as
a) The investor had issued you post dated cheques.
b) Based on his commitment, you had availed loans from outsiders and
Ask the investor to fulfill his commitment along with interest and also sue him for damages(compensation)
Helpful?
23+
23+
Adv. Rajagopalan
Hyderabad | 500+ Answers
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