Legal Question in Banking Law in India

Re: cheque return case

Hello.

Good Evening.

At this point of time he has to serve the notice within 15 days of the returned cheque.

So yes in this case he can look forward to execute proceedings u/s 138 of the NI Act.

Re: cheque return case

Yes

Re: cheque return case

yes, the payee may be entitled to file a complaint u/s 138 N.I.Act against the drawer after giving him notice of demand.

Re: cheque return case

From the question it appears it is you who has issued the cheque. If the payee has kept quiet when the cheque was returned the first time, he cannot create a fresh cause of action by presenting the cheque again and again and get it bounced. In the instant case, the payee cannot successfully prosecute you merely because the cheque got bounced the third time and he had on earlier occasions kept quiet.