Legal Question in Banking Law in India

What is the time limit ti return chq to. Customer if je doesn't come to bank to collect bounced chq


Asked on 5/26/15, 3:33 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

26.05.2015

Dear Sir / Madam,

There is no time limit to return the bounced cheque back to the customer. If you want to recover your money against the customer's bounced cheque, you will have to file a recovery suit under Section 138 of the Negotiable Instruments Act, 1938 against the customer within 30 days from the date of intimation of the cheque having bounced.

Regards,

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Answered on 5/26/15, 4:49 am


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