Cheque bounce - Cheque issued in my favour
1 year ago
Cheque issued in my favour on 15 May 2013, deposited before 6 months, bounced. Bank memo says "Insufficient Funds". Accused now pleads that as per RBI notification from 01.04.2012 the validity of Cheques/Drafts etc has been reduced from 6 months to 3 months. As such the ch was not valid at the time of presentation. What will be the outcome ???
A.Dear Sir,
It is a legal point and the Trial Court has no power to reject the registration of a cheque bounce case under Section 138 of NI Act. Get it registered and get issue summons to the Accused if not registered approach Higher Court.
It is a legal point and the Trial Court has no power to reject the registration of a cheque bounce case under Section 138 of NI Act. Get it registered and get issue summons to the Accused if not registered approach Higher Court.
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A.Hi client,
The following rule has become really strict and hence the new circular should have been kept in mind.
Thanks and Regards
Simi Paul
The following rule has become really strict and hence the new circular should have been kept in mind.
Thanks and Regards
Simi Paul
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A.Dear Client
RBI provided the guidelines for deposit of cheque within the time of 3 months and going beyond that wiln not work. So you can get another cheque issued for the same consideration.
Hope it helps.
RBI provided the guidelines for deposit of cheque within the time of 3 months and going beyond that wiln not work. So you can get another cheque issued for the same consideration.
Hope it helps.
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