Cheque bounce India PathLegal .pdf
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Cheque Bounce India | Cheque Rebound India
Cheque bounce India is considered as a criminal offence in India.Send a demand notice to
the party who wrote the cheque, threatening to initiate proceedings if the amount due is not
paid are the initial steps that has to be done if a cheque has got bounced. Within 30 days after
receiving the cheque, the notice should be send. There is no special format for this notice.
The notice should contain the details such that if payment is not one within 15 days, the
issuer will be prosecuted. This will be enough in getting justice for cheque bounce issues.
The below steps are to be followed if someone met with cheque bounce issues. First the
victim has to send a demand notice to the issuer of the cheque if the cheque rebound India.
Through this notice you may threaten to initiate proceedings under the NI Act, if the amount
due is not paid.It will work in most of the cases. If the party is an individual, the proceedings
will go under section 138 of the NI Act and if it is a company, the M D can be prosecuted
personally under section 141.
You can get more information about Cheque bounce in India in the above mentioned link.