Legal Question in Banking Law in India
cheque bounce
Sir, I took a personal loan from a bank and issued them a post dated cheques. My bussiness failed and cheques dishonour. Bank filed a case. Nither I have money to give them nor have any power to hire a advocate. How much time I have to spend in the jail.
Asked on 2/20/08, 12:53 pm
2 Answers from Attorneys
Re: cheque bounce
Maximum two years and penalisation upto double of the cheque amount.
Answered on 2/21/08, 12:40 pm
G. M. Gupta
gmguptaandassociates
Re: cheque bounce
contact bank and u can settle on meagre amount
otherwise its double the amount of the cheque and two years imprisonment
Answered on 2/24/08, 5:02 am
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