FAQs on Section 138 of NI Act: What happens once your cheque is dishonoured?
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This story is aggregated from The Times of India (timesofindia.indiatimes.com). Full reporting rights and copyright belong to the primary publisher.
Bouncing a cheque can transform into a criminal offence under the Negotiable Instruments Act, creating legal repercussions. The cheque must be issued for a lawful debt and returned unpaid due to insufficient funds. After dishonour, the payee has 30 days to issue a notice, and the...
Bouncing a cheque can transform into a criminal offence under the Negotiable Instruments Act, creating legal repercussions. The cheque must be issued for a lawful debt and returned unpaid due to insufficient funds. After dishonour, the payee has 30 days to issue a notice, and the drawer has 15 days to respond. If not repaid, the payee can file a complaint within one month of the final notice.
Original Source
https://timesofindia.indiatimes.com/legal/news/faqs-on-section-138-of-ni-act-what-happens-once-your-cheque-is-dishonoured/articleshow/134481746.cms
