Get free consultation on Cheque Bounce notice by our Legal experts
Provide necessary Facts and documents pertaining to the case
Get first draft within 7 days (Don’t like the draft, get upto 3 re-iterations free)
Once the draft is approved by you, Notice is then sent via Registered AD.
1. Dishonoured Cheque
2. Dishonour Memo given by Bank
Cheque is a negotiable instrument drawn upon a specified banker expressed to be payable on demand. A cheque involves three parties, first, the drawer who is author of the cheque, second, the payee in whose favour, the cheque is drawn and third, the drawee or payer bank who is directed to pay the amount.
Cheque Bouncing “Dishonor of a cheque” is when a cheque is returned by bank on which it was drawn due to lack of required funds. When a cheque is dishonored, the bank sends ‘Cheque Return Memo’ along with the cheque to the banker of payee stating the explanations or reasons for a cheque being returned. In turn the payee’s banker shall give the dishonored cheque and memo to the payee. The payee can again submit the cheque within three months of date mentioned on the cheque if he/she believes it will be honored next time
• A person must have drawn a cheque on a bank account maintained by him. • The cheque should have been issued in discharge, in whole or in part, of anydebt or other liability. • The cheque has been presented to the bank within the period of its validity. • The cheque is returned by the bank unpaid, either because of fundsinsufficient or it exceeds the amount arranged to be paid. • The payee makes a demand for the payment by giving a notice in writing,within 30 days of the receipt of information by him from the bank. • The drawer fails to make payment of the said amount of money within 15 days of the receipt of the said notice. • Complaint is made within one month of the date on which the cause of action arises.
The Complaint under Section 138 of the NI Act should be filed in the jurisdictional Magistrate Court within whose territorial jurisdiction the Bank/branch in which the payee/holder hold an account is located.
Preparation of legal notice in accordance with legal requirements and procedure of filing complaints involves various factors to be considered. Our well versed and experienced advocates help you to resolve this problem in an efficient manner and draft a Cheque Bounce Notice in consonance with all the legal provisions therein in a time bound manner.