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Cheque bounce case and want to recover money
20-Oct-2024 (In Recovery Law)
Mr. A owed me a money and he was friend of mine. So in exchange or for security purpose he gave me signed blank cheque. From last 2 months he switched off his phone and shifted his house I am unable to connect with him.
What can I do now ?
I gave him money in cash.
When you receive a cheque, deposit it within its validity period (3 months from the date of issue). If the cheque is dishonoured, you must issue a demand notice under Section 138 of the Negotiable Instruments Act within 30 days of receiving the bank's return memo. After issuing the notice, the drawer has 15 days to make the payment. Based on the circumstances and reason for dishonour, you have three legal options: file criminal proceedings under Section 138 of NI Act (which must be filed within 30 days after the notice period expires), initiate a civil suit for recovery (within 3 years), or file a criminal complaint for cheating under Section 420 IPC (if fraudulent intent can be proved). The choice of remedy depends on the specific circumstances of your case and the evidence available.
Helpful?
Adv. Navaneetha Krishnan T
Mumbai | 25+ Answers
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Well, you can use that signed Blank Cheque and try to get it honoured. If it gets dishonoured, file a Cheque Bouncing Case against him under the NI Act within a prescribed limitation period to recover your loaned money.
Helpful?
Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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