Yato Dharmastato Jayah
- motto supreme court of India
- motto supreme court of India
Yato Dharmastato Jayah - motto supreme court of India
Vidya Devarajan
B.Sc., L.L.M, Master's in Cyber Law
Advocate at High Court of Madras
Trusted Legal Advisor in Guduvancheri
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Cheque Bounce
FAQ:
If I deposit a cheque that bounces because of insufficient funds, what should I do?
You can file a legal complaint with the magistrate against the drawer under Section 138, leading to a possible fine or imprisonment.
How can I file a complaint for a bounced cheque?
Send a notice to the drawer of the cheque demanding payment within 15 days. If the payment is not made, file a complaint in the local magistrate’s court under Section 138 of the Negotiable Instruments Act.
What is the time limit for filing a complaint for a bounced cheque?
The time limit for filing a complaint for a bounced cheque is one month from the date of receiving the notice for non-payment. Therefore, ensure you send the legal notice promptly.
I issued a cheque but accidentally signed it incorrectly and it bounced. What should I do?
If a cheque is dishonored due to technical reasons, such as a signature mismatch or wrong date, the drawer can be held responsible. However, it may be argued in court that it was not a willful default, which could impact the case.
Can I be imprisoned for issuing a bounced cheque?
Yes, imprisonment is possible for issuing a bounced cheque under Section 138 of the Negotiable Instruments Act, which can result in a jail term of up to two years, along with fines.
** the answers provide above are generic questions we've received from our clients. We advise you to contact an advocate and get a legal advice for your situation before proceeding with any further actions.
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