Legal Question in Banking Law in India
Owner of my company gave me a cheque of Rs. 60,000 as a full final payment. The date on the cheque was 23rd March 2016, I deposited that cheque on 28th March 2016 but was dishonoured from the bank on 30th March 2016 due to insufficient funds. Now its been over 15 days as per Section 138 i haven't received the payment from my owner and the date he has committed is 29th April 2016 which is over and above 30 days. So shall i wait till then or shall i represent the cheque in the bank. And by chance does my owner has this option to stop the cheque?
1 Answer from Attorneys
19.04.2016
Dear Sir / Madam,
No lingering .. no waiting. Simply tell the Owner to give you the money within 3 (three) days, else immediately lodge a Police complaint, and file a recovery case under Section 138 of the Negotiable Instruments Act, 1938.
Regards,
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