Cheque bounce
yogesh sheth
(Querist) 29 June 2023
This query is : Resolved
I have given a loan to one of my friend in 2016 by cheque but not having any agreement for that for a span of 1-2 years but after that he was giving excuses and not returning my money I have waited a lot but didn't get my money back So in April 2023 I have issued a notice to him to pay my dues along with 18% simple interest or I will take legal action for realisation of the same.Afterall he agreed and issued a cheque for the same.But now the cheque issued by him was deposited by me on 6th June which was returned stating "Kindly contact drawer / drawee bank and please present again".I have tried to contact him but he is avoiding and when I tried to contact bank they refused to give me any information without the account holder.I have again deposited the cheque and it was return with same reason.
Now please suggest whether I can file case u/s 138 to realise my dues with this return reason.
Thanking you in advance.
kavksatyanarayana
(Expert) 29 June 2023
File recovery case against him. Consult a local advocate.
Advocate Bhartesh goyal
(Expert) 29 June 2023
Although cheque has been issued towards time barred debt so proceedings u/sec 138 of N. I.Act may be fatal however you can issue legal notice to your friend and demand cheque amount.
T. Kalaiselvan, Advocate
(Expert) 30 June 2023
You first issue a legal notice to him demanding the repayment of cheque amount as the cheque was returned without payment for the said reason mentioned in the return memo.
After that you can institute a private criminal complaint under section 138 NI act against the person who had given you this cheque
Dr. J C Vashista
(Expert) 30 June 2023
You are lucky as your friend has helped you by issuance of this cheque and brought your time-barred loan under limitation.
Issue legal demand notice u/s 138 NI Act, 1881 through a local prudent lawyer.
P. Venu
(Expert) 19 July 2023
It is binding on the Bank that the cheque ought to have been returned in terms of the guidelines notified by the Reserve Bank of India which could be accessed at https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx? Id=136#:~:text=4.,Rules%20for%20Bankers'%20Clearing%20Houses. You may take up the issue once again bringing to their notice the extant norms.
