Legal Question in Banking Law in
If a cheque is bounced upto how much time i can file IPC SECTION 138 means what is the time barrier to file a case under IPC SECTION 138.
Asked on 1/01/11, 4:52 am
1 Answer from Attorneys
Vishwa Arya
Arya & Co.
It is section 138 Negotiable Instrument Act and not IPC for dishonour of cheque.
Within 30 days of receipt of information of dishonour of cheque from the bank, the payee or holder has to issue a notice(or letter) to the drawer of the cheque that the cheque drawn has been dishonoured for the reasons mentioned in the memo and further giving him 15days time to make good the amount of cheque. If the drawer fails to make the payment within these 15days then the criminal complaint can be filed with in thirty days of receipt of notice by the drawer.
Answered on 1/01/11, 5:12 am
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