LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Rajendra Kumar (Advocate)     25 August 2018

cheque bounce

cheque returned by the bank with a endorsement "account frozen" whether sec.138 NI Act is applicable. if so kindly provide me it's citations.


Learning

 4 Replies

SHIRISH PAWAR, 7738990900 (Advocate)     25 August 2018

You can send notice u/s. 138 of Negotiable Instruments Act. If other party fails to repay the cheque amount you can file complaint u/s. 138 of Negotiable Instruments Act. 

K Chakraborty   25 August 2018

yes quietly acceptable after issues of a proper notice as prescribed in the acts

Adv Rohit Dalmia 9324538481 (Lawyer)     25 August 2018

If it is freezed by the law enforcement agencies then it would be difficult to bring it under the ambit of Sec. 138 of N.I.Act 1881.

Regards

Adv. Rohit Dalmia

9324538481

R Trivedi (advocate.dma@gmail.com)     25 August 2018

If the cheque was issued after the account was frozen then it fetches S.420 (cheating etc) also. Yes S.138 is applicable, the drawer must pay on receipt of notice.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register