YES, a complaint case under Section 138 of the Negotiable Instruments Act can be filed against the dishonour of a SELF written bearer cheque, provided it meets the criteria outlined in the section. Here’s how it applies: Section 138 of the Negotiable Instruments Act, 1881 pertains to dishonour of cheques due to insufficient funds or … Read more
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