Legal Question in Banking Law in India
A Pvt Ltd. Company issued cheques to me for refund of Security Depsoit as per our agreemnt with them. The cheques bounced sevberal times and the Co. issued replacement cheques after expiry of validity of bounced cheques .
The co. does not seem to have any intentions pf repayment of Security Deposit .
How can I file acase against this co. for recovery of my SD .
Is there any time limit with in whgich acsae should be filed .
manoj dosi
2 Answers from Attorneys
For filing civil suit for recovery three years from the date of bouncing of the cheque last given. for filing complaint under Sec.138 of the Negotiable Instruments Act, in a criminal court against the Managing Director and signatory of the cheque, notice has to be given within one month from the return of the cheque demanding payment within 15 days of the receipt of the notice. within the said time, payment does not come, complaint will have to be filed against them within one month from the expiry of the time mentioned in the notice for payment.
Go for a criminal case of cheating and also cheque dishonour.
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