Legal Question in Banking Law in India
when a cheque is returned by a bank stating "refere to drawer" should it be taken as insufficient fund as per notification passed in 80's
Asked on 4/28/10, 9:23 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
The answer is yes. Issue notice within 30 days of return of cheque, if within 15 days of the receipt of notice, the drawer does not pay, file a complaint to the Magistrate's court against him. Take the help of a local lawyer.
Answered on 4/28/10, 7:40 pm
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