Legal Question in Banking Law in India
What action can I take and what is the procedure to take legal action if a check bounces.
Asked on 1/18/11, 5:36 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
Please read Sec.138 of the Negotiable Instruments Act and follow the procedure therein
Answered on 1/18/11, 5:38 am
Send a legal notice of demand within 15 days from the date of bounsing of the cheque giving time to pay the amount within 15 days. If not paid then you may file a complaint case u/s 138 NI Act before the district magistrate within 30 days from the last day of expiry of 15 days mentioned in the legal notice.
regards
Answered on 1/18/11, 10:18 pm
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