Legal Question in Banking Law in India

IF PCD cheque bounced

What will happen to a cheque issuer if his issued PCD cheque bounced?


Asked on 9/15/07, 3:55 am

5 Answers from Attorneys
Homi Maratha N.N. Maratha & Co.-Advocates

Re: IF PCD cheque bounced

he is binded under Negotiable Instruments Act Sec 138. you can serve him the legal notice and then put him down in the court of law. can you brief some more facts pertaining to the question

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Answered on 9/15/07, 4:36 am

Re: IF PCD cheque bounced

He is liable to be prosecuted u/s.138 N.I.Act and also suit for recovery.

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Answered on 9/15/07, 4:41 am
Vijay Chandavale Advocate Vijay Chandavale & Associates

Re: IF PDC cheque bounced

There is no diferecne between PDC and other cheque . You can certainly take action of PDC however it would be taken only when it become valid for payment

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Answered on 9/15/07, 5:09 am
rajeshwar sharma rajeshwarnathsharma

Re: IF PCD cheque bounced

The issuer can be prosecuted

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Answered on 9/15/07, 10:21 am
Jayesh Desai Jayesh Desai

Re: IF PCD cheque bounced

Issuer can be prosecuted under section1 138 of the N I Act.

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Answered on 9/19/07, 2:00 am


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