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Whether non CTS check, but section 138 is applicable
03-Apr-2023 (In Cheque Bounce Law)
Whether non CTS check, but section 138 is applicable
In a significant judgment, the Supreme Court held that no offence for dishonour of cheque under Section 138 of the Negotiable Instruments Act is made out if the cheque is presented for the full amount without endorsing the part-payment made by the borrower after the issuance of the cheque..
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What is the new rule of cheque bounce case?
Punishment of repeat offenses: The new laws have introduced harsher penalties for repeat offenders. A person who has bounced a cheque twice or more can be sentenced to up to two-years in prison and fines up to double the amount. 09-May-2023
How long is jail time for bounced cheque?
A bounced check can land the payer in prison for up to 2 years. Banks also charge a penalty for a bounced cheque. Penalties vary from one bank to another. The amount of a bounced cheque may be subject to different penalties by banks. 08-Feb-2023
Can I file cheque bounce case after one year?
Cheque Bounce Laws In India
Criminal Remedy – is a criminal remedy that is available under section 420 of Indian Penal Code of 1860, which deals with the offense of cheating. It can be requested within three years of the date of issue of the cheque.
What is the time limit for 138 case?
The drawer should receive a notice within 30 days after the return of the check informing them of the dishonour of the cheque. They should then demand the amount of the cheque within 15 days from the date of receipt of this notice.
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