Dishonour of Cheques are dealt under the Section - 138 of Negotiable Instruments Act, 1881 clearly states that the dishonour of cheque is a criminal offence.
There is a time bound procedure if not followed the entire case goes in vain. The cheque should be presented within a period of 3 months to the bank. There are many reasons for the dishonour of cheques, for which a legal action can be taken. We help our clients by making a demand of the unpaid amount and recover the money as soon as possible. A statutory period of 15 days is given to the person owing the money after the receipt of a legal notice to provide the person owed with the requisite amount.
The processes to be followed in case of cheque bounce is as under: -
- Once the cheque is dishonoured, we make sure to understand the crux of the existing matter, study the case and then draft a legal notice for the same within a period of 30 days of receipt of the dishonour of the cheque.
- Our team of experts drafts a notice to the opposing party claiming the amount for which the cheque was dishonoured, and within a statutory period of 15 days the opposite party has to settle the matter in a systematic manner.
- We make sure to have a mutual understanding and recover the amount of the cheque within the period of 15 days.
- However, if the opposition party fails to pay the money after the completion of 15 days or even ignores the notice then a complaint is filed against the person before the appropriate court within a period of 30 days.
We value our clients’ needs and requirements and hence, we make sure that the client doesn’t have to pay for any of the losses and all the necessary legal requirements are filed within the given timeline that are strictly according to the rules and regulations of the Indian Judicial System.
The other side has a defence of misuse of security cheque given to the holder or despite full payment the cheque was deposited deliberately to harass.For consultation and appointment