Negotiable instrument act.
....SAJ SK.....
(Querist) 02 May 2019
This query is : Resolved
Hello Experts........
If cheque dishonours for insufficient fund then what is time limit for sending legal notice to the drawer of the cheque. I have gone through sec. 138 of NIA, according sub section 138 (b) it is within 15 (fifteen) days of the receipt of information from the bank regarding the return of the cheque. But I am little confused because I have also gone through some website such as vakil no.1, and Judgement of M/S. Sil Import, Usa vs M/S. Exim Aides Silk Exporters, ... on 3 May, 1999, after going through this I came to know that time limit is 30 days from the receipt of information from bank.
So my question is that, What is time limit for sending legal notice? Is it 15 or 30 days?
hoping for early reply from experts. .. . .Have a good day...
Dr J C Vashista
(Expert) 03 May 2019
Prior to 2002 amendment time to raise demand against the drawer of dishonoured cheque was 15 days which have now been replaced to 30 days.
Hemant Agarwal
(Expert) 03 May 2019
TRUE. I fully agree with expert Dr. J C Vashista.
Keep Smiling .... Hemant Agarwal
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