CHEQUE BOUNCE CASES 

4.4

119 - Reviews

CHEQUE BOUNCE CASES 

155 People purchased

CHEQUE BOUNCE CASES 

4.3 (119 - Reviews)

155 People purchased

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Understand the service & proceed for booking
Provide basic details and proceed for payment
After payment completion, We will call you to discuss the requirement
Your service will be delivered within agreed turnaround time
Understand the service & proceed for booking
Provide basic details and proceed for payment
After payment completion, We will call you to discuss the requirement
Your service will be delivered within agreed turnaround time

CHEQUE BOUNCE CASES

A cheque bounce may occur for several reasons, but if a cheque bounces due to insufficient funds in the drawer’s account, it amounts to an offence under the Section 138 of the Negotiable Instruments Act, 1881 (“Act”). When the payee presents a cheque to the bank for payment, and it is returned unpaid by the bank with a memo of insufficient funds, it is said to have bounced.
 

Circumstances Of Cheque Bounce:

  • Insufficient Funds
  • Date on cheque is incorrect or unclear
  • Signature mismatch
  • Amount does not match the in words and numbers
  • Cheque is damaged or disfigured
  • Scribbling and Overwriting
     

Prosecution Of Case In Cheque Bounce

  • Firstly, after dishonour of cheque, a chance shall be given to the drawer in a form of written notice to repay the cheque amount.
  •   Notice shall be sent within 30 days of receipt of ‘Cheque Return Memo’ from the banker of the Payee.
  •  Notice period of 15 days shall be specified in such notice.
  •  If not, the Payee may choose to file a complaint in the competent court of law.
  • That complaint shall be made within one month from the expiry of 15 days prescribed in the notice.debt recovery laws in india
     

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