NI Act 138 for Cheque bounce in case Positive pay not registered
1 year ago
I have 15 lakh rupee Post dated cheque (with agreeement for payment as loan from a friend) . But he has not registered the cheque in Positive pay system as mandated by RBI recently. my question is, if i deposit the cheque and it bounes with memo "Positive pay not registered" then can i file criminal case against him as per NI Act ? My apprehension is, even if there is insufficient balance in his account, it may not be written in the Cheque return memo, which is required to file Case as per NI Act.
A.Respected sir, If the cheque issuer fails to make a fresh payment within 30 days of receiving the notice, the payee has the right to file a criminal complaint under Section 138 of the Negotiable Instruments Act. However, you have to file a complaint in a magistrate's court within a month of the expiry of the notice period.
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