Legal Question in Business Law in
hello sir ,
this is gaurav from delhi my party issue me post dated cheques onpurchase of goods from me.when i deposited all cheques in my account they all are bounce due to stop payment of cheques pls tell me legal action against this
2 Answers from Attorneys
you can send a legal notice demanding the amount of money towards each cheque but the notice needs to be served within one month of bouncing of cheque.
you have two remedies. One for filing of criminal complaint u/s 138 NIAct for which legal statutory notice is required to be issued to the drawer of the cheque in writing within 30 days of receiving the info about dishonour from bank. ONce the notice is issued and the payment does not come within 15days of that, then criminal complaint may be filed with the magistrate.
Your second remedy (both remedy may go simultaneously) is civil summary suit for recovery of total value of the goods sold. For this limitation period will be three years.
Related Questions & Answers
-
Can a director's personal property be made liable if he cannot achieve a certain... Asked 9/24/10, 2:10 am in India Business Law
-
Define unpaid seller. What are his rights under the Scale of Goods Act? Asked 9/23/10, 2:50 am in India Business Law
-
Is it a must that parties to agreement must have local address at the place where... Asked 9/21/10, 6:23 am in India Business Law
-
What are the legal formalities relating to commencement of tour operator business. Asked 9/21/10, 3:55 am in India Business Law
-
Hi, I would like to knw the legalities for lucky draw system ? is it legal to accept... Asked 9/17/10, 10:38 am in India Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
