Legal Question in Banking Law in India

Re: EMI Cheque bounce...

You are write to the bank and demand a hard copy of the statement; also you may check with your bank from which account you issued the cheques. You should be careful about your liability; any failure may result into penal interest and costs.

Re: EMI Cheque bounce...

Cheque which is bounced is returned with slip, in such absence presumption goes other side, i.e., it has been either chased or lost. Drawee bank may be checked and hard copy of the accounts statement may be asked for.

Re: EMI Cheque bounce...

If the cheques are issued on the same bank in which you have the loan account, u would not find any entry as to the return of the cheques. If on the other hand you have issued cheque on another bank, the loan account would show the expenses for returning the cheque. Anyhow, please check with your bank on which u have issued the cheques which bounced. there is no uniform practice in this regard. If it is a cheque issued on another bank and got returned, you will receive the cheque back with the return slip.

Re: EMI Cheque bounce...

Normally bounched cheque is returned by Bank to the party you can ask for a Xerox copy of cheque from customer care