138 of NI Act

Guest (Querist) 29 April 2010 This query is : Resolved
Dear All Ld. friends

is any statutory notice of Demanding payment within 15 Days from the date of Notice. (pls give n e judgement if it is less then 15 days)

In demand notice party has to be demand the amount of cheque bounce. if not demand then what will happened. (pls give n e judgement if no demand is made out in notice.)

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Suryanarayana Tangirala (Expert) 29 April 2010
S.138 N.I ACT makes it mandatory to issue a 15days time(from date of receipt of notice) which is mandatory.The object of notice is to rectify his omission and also to protect an Honest Drawer.
A notice cannot be said valid if it didnot specifically contain any demand for the payment of cheque amount[Indira VS Adinarayana- AIR 2003 SC 4689 ]

Raj Kumar Makkad (Expert) 29 April 2010
No citation is in support of lesser period. Notice of 15 days is mandatory.

Sachin Bhatia (Expert) 05 May 2010
It is mandatory to issue a 15days notice prior to file a complaint under section 138 of N.I.Act.

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