HIMAGIRISH (TECHNOLOGIST) 07 August 2014

Cheque bounce

Dear Sir ,

My name is Girish from New Delhi. coming to the point , I am working in private company , where one of my colleague use to do some sort of business under his own firm. He convinced us to invest in his ventures and I invested nearly 1,50000 by cheque in favour of his company where he is proprieter . . which has been credited to his account. After few months he told us that his venture is closed due to some loses and unable to pay my debt .But in reality he is in good position to pay our debts and not wanting to do so. On pressure , he has issued a cheque to the same amount which is bounced . I have all evidence of emails and bank accounts regarding this issue. I am proceding against him in court. But I need to know , in what ways he can defend himself ( by lawer ) and get acquitted from this case. So that I can be prepared

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4 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 07 August 2014

You would think it should be easy to get someone to pay up whose cheque has bounced... It's not rocket science, but timing and procedure are very important. Find out about the steps involved...

Do you need to recover an amount due on a cheque that bounced? Criminal prosecution (rather than filing a civil suit) is your first best friend.

Criminal cheque bounce case

Send a letter (a demand notice) to the party who wrote the cheque (the drawer), threatening to initiate proceedings under the Negotiable Instruments Act (NI Act) if the amount due is not paid. The threat of prosecution can often work its magic and result in prompt settlement. (If the drawer is an individual, the proceedings would happen under Section 138 of the NI Act. If the drawer is a company, its managing director can be personally prosecuted under Section 141.)

rajkumar (sr.law officer) 07 August 2014

veery good

Nadeem Qureshi (Advocate/ nadeemqureshi1@gmail.com) 08 August 2014

Dear Querist

if the cheque got bounces then within a month from the bouncing you have to send a legal notice is he is not ready to make the payment within 15 days from the receipt the notice then you may file a criminal complaint u/s 138 of N.I. act within 30 days from expiry of 15 days time as mentioned in Notice.

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