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Bouncing or dishonour of cheque due to insufficient funds can be cleared subsequently by making the payment of the cheque amount to the Holder along with intimation. We at Cheque Bounce Advisor helps in clearing the payment of the bounced cheque with proper communication and suitable payment modes so as to avoid any future litigation. … Read more
There is no restriction regarding the number of times a cheque can be presented and that every subsequent representation and dishonor gives rise to fresh cause of action for filing complaint. The holder of cheque can approach Cheque Bounce Advisor (CBA) Team even after a single incident of cheque bounce and seek expert services for … Read more
Though the Cheque Bounce does not affect the CIBIL Score directly as concerned Banks do not report the dishonour of the cheques to major credit rating bureaus including CIBIL directly, however if the cheques issued against repayment of loans from financial institutions & NBFC are dishonoured repeatedly, the said institutions report the payment failure which … Read more
Yes, cheque bounce is a criminal offence for deliberate wilful reasons as stated above and as per section 138 of Negotiable Instruments Act, the drawer/signatory of the dishonoured cheque can be punished with an imprisonment for a term which may extend to two years, or with the fine which may extend to double of the … Read more
PROCEDURE TO FILE A CRIMINAL CASE AGAINST THE DRAWER OF THE CHEQUE FIRSTLY:- the holder of the cheque/payee has to send a demand notice within 30 days of the receipt of such dishonour information to the drawer of the cheque, either personally or through lawyer, asking to make the payment of the cheque amount within … Read more
The first and foremost step would be to send a reply to the legal notice citing your defence or else pay the cheque amount as per the legal notice to avoid any further legal proceedings. However before sending a reply to Legal Notice or making the payment, it is desired to consult a legal practitioner … Read more
In India, Cheque bounce is a criminal offence under Section 138 of the Negotiable Instruments Act, 1881(as Amended in 2018) punishable with imprisonment for a term which may extend to two years, or with fine which may extend to twice the amount of the cheque, or with both. When the holder of the cheque i.e. … Read more