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A step-by-step guide for legal recourse when Chequ...

|A Cheque is a mode of payment that is widely used for transactions including loan re-payment, payment of salary, bills, fees, and so on. Banks on a daily basis process and clear the vast majority of cheques. Issuing cheques are essentially proof of payment. However, cheques undeniably are a reliable mode of payment for most people. Conversely, issuing crossed “Account Payee Only” the cheque is advisable and indeed recommended so that the cheque is not misused in any way, shape or form.  A cheque basically is a negotiable instrument and they are of two types including Crossed and Account payee cheques which are non-negotiable by any person excepting the payee. The issued cheques have to be deposited into the bank account of the payee. The legal definition of the author of the cheque is ‘drawer’ and the cheque is drawn in favor of the ‘drawee’ and the paying bank is typically known as the ‘payee’. Cheque bounce cases in recent times are quite common. Occasionally, huge cheque amounts remain unpaid and payee banks return them dishonored.Dishonor of cheque results in the drawee bank issuing a ‘Cheque Return Memo’ to the payee’s banker pronto stating the reason for non-payment of the cheque. The banker of the payee then returns the memo and the dishonored cheque back to the payee. The cheque can be reissued or the payee can reissue the cheque within the timescale of three months of the cheque date if the drawer believes issued cheque will be honored the second time around. However, if the issuer of the cheque fails in making a payment, then its the payee’s right to proceed along the lines of legally prosecuting the drawer.  The defaulter/drawer may be legally prosecuted by the payee for the fact that the cheque was dishonored. However, the only exception to the rule is if the cheque amount is huge and the cheque payment is towards discharging debt or other defaulter liabilities towards the payee. In the case of a gift cheque, which may have been towards obtaining a loan or for illegal purposes, then the drawer is exempt from being prosecuted.Legal action In case of payee deciding to proceed legally, then the payer ought to have the chance of repaying the cheque amount pronto. The chance ought to be given only in the form of notice in writing. The notice ought to be sent to the drawer within a month of receipt of the “Cheque Return Memo” notice from the bank. The notice also ought to allude to the fact that the cheque amount ought to be paid to the payee within a fortnight from the receipt date of the notice by the issuer. If the issuer of the cheque is unable to pay within a month of receipt of the notice the payee is entitled and indeed empowered to file a criminal complaint under Section 138 of the Negotiable Instruments Act. Call 7604047601 for a preliminary phone consultation with the registered expert cheque bounce lawyers on Vidhikarya.

Posted By

Avik Chakravorty

20 hours ago

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E-signing is the tip of the iceberg: Smart E-Contr...

It’s a frustrating experience for anyone waiting for follow up after a proposal for a contract has been sent to a client and what may seem like an eternity is, in fact, a protracted timescale for the client to respond. Sending a contract to a client is a harrowing experience that entails following up with clients to ensure they receive, read, agree, sign and send the contract back signed and sealed. After the vendor gets the signed contract back from the client there are a few internal formalities including obtaining internal approvals that the vendor has to follow or comply with and then the signed and sealed contract can be filed away in a safe and secure place. The entire process may take several weeks to conclude. The entire process is time-consuming and that time could be dedicated to pursuing and closing newer business deals. The control over the contract workflow beginning with drafting and finalizing the proposal to signing the contract can be done in no time at all. The major reasons for opting for E-contracts over static contracts are as follows:Counterparts are impressedCommon contracts aren’t time savers rather they are time-consuming and are pesky as well. Clients are unimaginably delighted owing to the fact that they don’t have to print, read, retype alterations in an email or jot down in the margins of one’s contract, scan and email the contract back to the sender; all of this is a lot of hassle when one could seamlessly manage negotiations directly through their live E-contract document.Professional, bespoke, hi-tech e-contracts are impressive with branding and even attaching a video greeting would create a positive impact on one’s client. The screen and audio recording features are available as well for walking clients through certain sections of one’s proposal.Close deals It's hard to imagine working for months on coming to fruition on a client and the client ultimately agreeing on accepting a proposal. One may work for a few days on drafting and perfecting the proposal only to lose it in transit. Upon contacting one’s client after about a week to inquire whether the client received the proposal, the reply may not be what one may ideally want to hear i.e. the client indeed did not receive the proposal, let alone see it, resulting in a negative effect on one’s credibility  and one may lose one’s precious deal forever. Electronic contracts are delivered electronically by clicking a button. The live editing feature enables instant feedback on proposals and in turn reaching an agreement is faster. Following up with clients via emails, phone calls, missing person reports, and so on isn’t required any longer to ensure that they have seen the updated version of a proposal. Owing to E-contracts one can ensure that one’s proposal is in the hands of the intended recipient the very moment one is through with drafting the proposal. One would be notified or intimated as to when the intended recipient received and read the proposal and also get notifications in real-time each time one’s counterpart recommends an alteration and signs.Eliminate hinders to signEvolution is the key to survival in the tech age. The good old days of static contracts are history. E-contracts are not only state-of-the-art and cutting edge technology but are also essential now more than ever before when almost any item that one may require can be accessed instantly and would be at one’s fingertips. The aspect of e-contracts that stands out is that one can sign anytime, anywhere. Research reveals that the vast majority of contracts are typically signed on Fridays and during weekends. Static contracts only permit business transactions Monday to Friday, which eliminates 2 days in a week that one could very well use to come to fruition on deals. This is the trend throughout the year but is particularly vital during closing weeks at month’s end. The motivation for the Sales team with feedback in real-time without any learning curveAny standard E-contract management tool will integrate seamlessly with one’s current systems thereby it's not a steep learning and adoption curve at all. Rather the learning curve is little to none. If one’s sales team uses Salesforce or HubSpot for example, E-contract systems permit one’s sales team to draft and deliver proposals from their preferred CRM interface itself.Successful integrations, even populate data automatically from one’s CRM system into one’s contracts directly. One’s sales team would be able to expedite sending proposals with proposal templates thereby eliminating pesky follow-ups that require a lot of time. Vendors can follow the contract’s lifecycle and get updates from the CRM that they prefer. There is a dashboard in Smart Contract Management systems enabling sales teams to have a comprehensive overview of all generated leads, opportunities, negotiations and deals won from the dashboard view itself.Don't be left on the waysideIn the digital ecosystem, it's one of two things; adaptability or fading away. Obviously, there is a reason behind working with smart contracts that so many brands ranging from top fashion brands and car manufacturers to SMEs are opting for E-contrcats and smart contract management tools. Call 7604047601 for consultation with registered expert contracts and agreements lawyer on Vidhikarya.

Posted By

Avik Chakravorty

1 day ago

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Prabhakara S K Shetty

(See Reviews)

Experience

: {{lawyerExperience}}

Designation

: Advocate

Practicing Court

: City Civil Court.

Location

: Karnataka, Bangalore

State Bar Council

: Karnataka

Reviews & Ratings(View Reviews)

I started practice in Bangalore in year 2000. Handled over 400 cases out of which about 80 cases in High Court of Karnataka writs, civil and criminal petitions, appeals, Public Interest Litigations, KAT and CAR , Lokayukta cases , property , matrimonial matters etc.,

Professional Summary

I taught many law subjects in a Law college and was actively participating in legal awareness camps,Was a delegate to All India Law Faculty Congress in Delhi in 1999. Started practice as advocate, moved to Bangalore and set up own office in the year 2009 and since then handled matters in almost all courts in and around Banaglore.

Expertise In

Primary Expertise

Category Experience(in years) Cases Remarks
Family 17 years 410 Handled matters of property, partition, Divorce, maintenance, criminal defence, cheque bounce,

Secondary Expertise

Expertise In

Family

Experience 17 years

Number of Cases 410

Handled matters of property, partition, Divorce, maintenance, criminal defence, cheque bounce,

Other Areas of Expertise

Practicing Court Name

City Civil Court.

High Court

City Civil Court

Sessions Court

Civil court

Family Court

others

District Court

others

Chief Judicial Magistrate

magistrate

Tribunal

Educations

LL.B

MKS College oF Law

LL.B

B, Com.,

Other Info

No. of juniors with me

3

Size of my team

5

No. of intern work per year

-1

Other Legal Experience

legal counsel

Corporate Counsel

arbitration

Legal Counsel

others

Empaneled with Organizations

others

Corporate Counsel

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