Process To Get Free From Cheque Bounce Cases
Cheque bounce cases, also known as dishonoured cheque cases or cheque fraud cases, occur when a cheque issued by an individual or a company is returned by the bank due to insufficient funds or other reasons. It is a legal offense and typically arises when the payee tries to deposit the cheque and it gets dishonoured. The payee can then initiate legal action against the issuer by filing a complaint under the relevant laws, seeking recovery of the amount mentioned in the bounced cheque, and potentially pursuing criminal charges against the issuer. Section 138: Negotiable Instruments Act Section 138 of the Negotiable Instruments Act in India establishes that the dishonour of a cheque due to insufficient funds is a criminal offense. It provides a legal framework for addressing cheque bounce cases, offering recourse to the payee. If a cheque is dishonoured, the payee can issue a legal notice to the drawer demanding payment. If the payment is not made within the specified t...