Statutory period for notice under ni act
Rajat sahotra
(Querist) 29 October 2013
This query is : Resolved
I observed that all lawyers have advised the STATUTORY period of intimating the drawer as 15 days. However, I understand that as per amendments passed in December 2002, the time to intimate the drawer about cheque bounce has been increased from 15 days to 30 days. Please advise what is correct situation.
Would a drawee be entitled remedy under Section 138 of Negotiable Instruments Act 1881 if he/she intimates the drawer after 15 or 30 days as applicable?
Do these 15 or 30 days include state/national holidays or have to be working days only?
Advocate M.Bhadra
(Expert) 29 October 2013
a)Under provisions of negotiable instruments act.sec.138 a Legal Notice on behalf of complainant is to be issued to the drawer/ defaulter whose cheque is dishonored. It should be issued within 30 days of dishonor of cheque by RPAD. All facts including the nature of transaction, amount of loan and or any other legally enforceable debt against which the said cheque was issued and the date of deposit in bank and date of dishonor of cheque should be mentioned in the notice.
b) The person who has issued cheque/drawer is directed to make the payment of amount of dishonored cheque within 15 days. In case the said payment is made within 15 days of service of notice then the matter ends.
c) But in case the said payment is not made within 15 days then the complainant has to file a criminal case in the court of Judicial/Metropolitan Magistrate within 30 days from the expiry of notice period of 15 days.
V R SHROFF
(Expert) 29 October 2013
IT IS 30 DAYS AFTER KNOWLEDGE OF RTD CHQ.
NOT EXTEND-ABLE SO WITHIN 30 DAYS.
NO HOLIDAYS [ IT IS PURE 30 DAYS
OK
[ CERTAINLY NOBODY MUST HAVE ADVISED 15 DAYS] [ OR IT IS MISTAKE OF SOMEONE, AS THAT SOMEONE DID NOT PRACTICE AS LAWYER FOR LAST 11 YEARS!!!!!!!!!!! in NI Act ]
ok
prabhakar singh
(Expert) 29 October 2013
WELL SIR AND MY CAPTAIN I HAVE ALREADY SURRENDERED ADMITTING IT TO BE 30 DAYS TAB KYA BACHA HAI?
V R SHROFF
(Expert) 29 October 2013
Shri PS, this is new Query, by another Querist. No comments on u pl.
Rajendra K Goyal
(Expert) 30 October 2013
Agree to the experts, nothing more to add.
