legal notice cheque bounce in india | |
A legal notice for cheque bounce in India is a formal communication sent by the payee (the person who was supposed to receive the money) to the drawer (the person who issued the cheque) when a cheque is dishonored (bounced) due to insufficient funds or any other reason under Section 138 of the Negotiable Instruments Act, 1881. The notice must be sent within 30 days from the date of receiving the bank's "cheque return memo" indicating the reason for the bounce. The notice should clearly state the details of the cheque, the amount, the reason for dishonor, and a demand for payment within 15 days of receipt of the notice. If the drawer fails to make the payment within the stipulated time, the payee has the right to initiate criminal proceedings against the drawer, which can lead to penalties including fines and imprisonment. | |
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| Target State: All States Target City : Chandigarh Last Update : Apr 28, 2025 3:36 AM Number of Views: 12 | Item Owner : NRI Legal Contact Email: Contact Phone: 07428899979 |
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