Loans in India are generally taken to meet a personal, business, or commercial need from banks and NBFCs. Now, when the borrower fails to pay back the principal or interest or both on time or improperly, it ceases to be a mere financial question and becomes a breach of contract. In such situations, the first …
How To Send A Legal Notice In Case Of Loan Default? Read More »
Have you ever been in a situation where your cheque bounced? In India, cheque bounce cases happen frequently, and they carry significant legal repercussions. The law provides for stringent measures to ensure trust in business and personal transactions between parties. The drawee has an empty account, or there has been no arrangement with the bank …
Procedure For Cheque Bounce Cases (Negotiable Instruments Act- Section 138) Read More »
society: they do so out of trust. But problems ensue when the borrower refuses to pay back the amount, which results in financial and emotional distress. Many people hesitate to sue due to personal relations, but the law provides very clear and effective remedies to have your money repaid. In India, recovery of money is …
How To Recover Money You Lent To Someone Legally? Read More »
A common dilemma faced by many is when the drawer of the cheque asks for more time or promises to repay the amount later, should you still proceed legally? This guide answers that question in depth with legal provisions, case laws, and actionable steps. When a Cheque Bounces in India? What the Law Says? If …
Should I File A Case For Cheque Bounce If The Person Promised To Pay? Read More »
In an economy, a cheque is a kind of payment that encourages cashless transactions. With time, there has been a rise in the use of cheques as a form of payment. When transacting, people prefer to give cheques rather than carry cash. It’s a perilous business to carry currencies, particularly when the amount is excessive. …
Navigating Consequences And Remedies Of Cheque Bounce? Read More »
A significant piece of legislation that regulates the use and enforcement of negotiable instruments in India, notably promissory notes, bills of exchange, and cheques, is the Negotiable Instruments Act of 1881. The Act’s provision for summary trials for matters involving bounced cheques is one of its most significant features. A summary trial preserves the rights of all …
Summary Trial Under The Negotiable Instruments Act, 1881 Read More »
For the majority of us, life has gotten easier with the introduction of the digital payment system. Transactions in banking are becoming quicker and easier. However, many people still prefer to conduct financial transactions with cheques. Cheques have long been seen as a secure way to send money and make purchases. Nevertheless, there is a …
How To Find Good Advocate For Cheque Bounce Case Read More »
Financial transactions have become essential in both business and personal interactions in today’s fast-paced economic environment. Cheques are a popular means of financial exchange because they act as a guarantee of payment. However, disagreements and strained relationships can result from cheque bounces, which occur when a cheque is not honoured for various reasons, such as …
The Negotiable Instruments (NI) Act of 1881 plays a crucial role in regulating the use of negotiable instruments like cheques in commercial transactions. It ensures the smooth functioning of business transactions by providing legal remedies in case of dishonour of cheques. In recent years, the issue of cheque bounce has become a major concern for …
Relevance Of Interim Compensation In Cheque Dishonour Cases Read More »
There are several laws in India that deal with money recovery. These laws provide a legal framework for creditors to recover debts from debtors. Here are the different laws that govern money recovery in India: Negotiable Instruments Act, 1881 This law deals with the recovery of money through negotiable instruments such as cheques, promissory notes, …
What are the Different Debt Recovery Laws In India Read More »
