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INTRODUCTION
Cheques are used in almost all transaction such as payment of bills, Salary, fees, repayment of loans etc. payment via cheques consider as one of the safest method of payment in India. Though cheques remain reliable method of payment for many of people but It is always advisable to issue crossed “Account Payee Only” cheques in order to avoid its misuse by third party. A cheque is a bill of exchange wherein Crossed and account payee cheques are not negotiable by any person other than the payee. The Crossed and A/C payee Cheque have to be deposited into the payee’s bank account. However cheques bounce matter are common these day. Sometimes cheques bearing large or small amount returned by the bank on which they have drawn.
LEGAL RIGHT AS TO CHEQUE BOUNCE MATTER
Help Setting Goal
In India if a cheques get dishonor the application may be file under section 138 Negotiable Instrument Act 1881. According to Section 138 of the Act, the dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both. If payee decides to proceed legally, then the drawer should be given a chance of repaying the cheque amount immediately. Such a chance has to be given only in the form of notice in writing. On receiving the complaint along with all relevant documents the court will proceed and summon to the defaulter. At the end of the proceeding if defaulter appears to be guilty before learned court, the defaulter shall be subject to the monetary plenty which may be twice the amount of the cheque or imprisonment which may be extended to two years or both. In case drawer makes the payment of whole amount stating in cheque within 15 days of the notice issued to him on default then does not commit any offence under the said Act.
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Make Payment
Select any package from the site of ourstartupindia.com as per your need and make the payment through the payment gateway.
Collect information and documents
We will collect the basic information and required documents for the process.
Draft the Legal Notice
We will draft the legal notice and will get it approved from you.
Dispatch the Legal Notice
We will dispatch the legal notice to the person.
Pre-Requisites
Documents required
- A copy of the Demand Notice along with the acknowledgment of the receiver.
- The original cheque that has bounced. A memo, the communication from the bank to state that the cheque dishonored and the reasons for it.
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- Name Search Report
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- Issue of Incorporation certificate along with PAN & TAN
- Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
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- GST Registration
- Stamp and Company Seal
- Bank – Current Account Opening
- 10% Discount on Future Service
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Save upto-30% cost on this package
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(inclusive All)
- Name Search Report
- Name approval in RUN (Reserve Your Unique Name)
- DSC(2no) (Extra Dsc Per Director – Rs-1000)
- Filing Spice Form
- Issue of Incorporation certificate along with PAN & TAN
- Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
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FAQ's
A cheque is said to be dishonored or bounced when it is presented for payment to a bank but it is not paid by the bank because of some reason. Reasons may be fraud, insufficient funds, crossed cheque, the mistake on the cheque, etc.
The Complaint under Section 138 of the NI Act should be filed in the jurisdictional Magistrate Court within whose territorial jurisdiction the Bank/branch in which the payee/holder holds an account is located.
Cheque bounce is a criminal offense punishable with imprisonment for a term up to two years or with a fine twice the amount of the cheque or both.
Yes, you can. A cheque dishonored under the stop payment instruction is covered under Section 138 of the NI Act. So, you have every right to press charges. This can be done only after you have sent a Demand Notice to the drawer.
No, if the bounced cheque was given to you as a gift or was lent to you for repayment of a loan installment, you cannot press charges against the drawer.