What is the punishment for a bounced Cheque?

I have provided my cheque in against security of loan purpose. I took friendly loan and provided cheques against the amount. I have paid some of amount in cash mode against the cheque and now the lender has produced the cheque in bank and made it bounced and a legal notice has been sent to me. How can escape this case?

2 AnswersQA Date: 08 Mar 2024Cheque / Loan / Recovery

Advocate By LEAD INDIA

Answered At: 14 Mar 2024

Sir, in such case you have to prove that you have paid certain amount of the total loan amount then at the time of recovery you have to pay the remaining balance. If there is no proof then money lender can claim full amount through legal proceedings. For further legal assistance contact us on our helpline number.

Advocate By LEAD INDIA

Answered At: 18 Mar 2024

sir in such matter you have to prove that you have paid some certain amount to him but you should have proof that you have paid him a certain amount. if through cash the receipt or if the bank the proof of that specific transaction. and if given this cheque as security then we have to prove that this cheque was given for security purposes.

What is the punishment for a bounced Cheque?

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