S 138 of negotiable instrument act

Harish Wani (Querist) 06 February 2012 This query is : Resolved
if in case of s 138 of NI act if notice not served within 15 days to payee because of any reason what action can be taken or what is the provision for action against payee.plz give me suggestion on that because my client forget to give notice to payee and now he came back after 18 days of receiving receipt from bank for insufficient fund.

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Deepak Nair (Expert) 06 February 2012
Dear Mr.Harish,

Please go through the Section once again.

It says 30 days and not 15 to send a notice.

After sending the notice, you have to wait for 15 days so that the drawer of the ccheque to give money.

You should file the complaint before magistrate within 30 days from the expiry of said 15 days.

since only 18 days have gone, you have still 12 days in your hand.

Harish Wani (Querist) 06 February 2012
Thanks You so much sir actually i did't see the amendment i.e

3. Substituted by Act 55 of 2002, sec. 7, for "within Fifteen days" (w.e.f. 6-2-2003).

thank u so much....