Legal Question in Banking Law in India

cheque bounce

the cheque drawn on vijaya bank by the drawer,who happens to be realestate developer has been dishonoured & returned saying ''insufficient funds'' by my bankers i.e icici bank.asthe cheque could not be realised ,my bankers have returned the cheque by courier!

cheque bounce is criminal offence,so what action should I take to realise my money?


Asked on 5/25/07, 7:41 am

3 Answers from Attorneys

Re: cheque bounce

You can file complaint u/s.138 Negotiable Instrument Act and can also file recovery case to recover you ammount.For any other query/assistance you may call on my mobile.

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Answered on 5/25/07, 12:49 pm
G. M. Gupta gmguptaandassociates

Re: cheque bounce

send notice within one month of receipt of the cheque return memo giving him 15 days time to pay the amount and after 15 days and within one month file a complaint in the court

punishment is 2 years and or double the fine

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Answered on 5/25/07, 2:02 pm
Vivek Mapara Mapara Law Firm

Re: cheque bounce

For cheque bounce you can initiate criminal proceedings u/s 138 of NI Act. Punishment for the offence is 1 year and fine of double the amount of cheque amount.

Even you can initiate summary suit for recovery of cheque amount besides the criminal compliant

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Answered on 5/25/07, 8:43 am


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