The negotiable instruments act, 1881

OM (Querist) 03 November 2011 This query is : Resolved
We are dealing in mobile phone and we have given about five rupees credit to one of our dealer on post dated cheques.

on date we have deposited cheques in to bank for clearing, but bank did't clear these cheques bcz of insuficient funds in the party a/c.

therefore i would like to know that now what we will do for collection of our dues, bcz, dealer did't ask any thing about when these payments they shall release to us.

Please advice us and oblige.

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ajay sethi (Expert) 03 November 2011
if cheque has been dishonoured for insufficency of funds issue legal notice under section 138 NI for cheque bouncing

M.Sheik Mohammed Ali (Expert) 03 November 2011
yes, i do agreed expert query reply

Sankaranarayanan (Expert) 03 November 2011
yes you go according the advise given by mr sethi. you file a suit

Sailesh Kumar Shah (Expert) 03 November 2011
Issue notice u/s 138, as advised.

sanjeev murthy desai (Expert) 03 November 2011
Yes i do agree with all the opinions. Please contact local lawyer to issue notice and file a complaint.

prabhakar singh (Expert) 03 November 2011
yes!while issuing notice is the only right required act in cheque bounce cases,the work is a bit technical and requires services of a lawyer for the same,hence get in touch of a local lawyer without delay to send notice as time is running and shall stand expired just on 30th day from the date of bank intimation of dishonour received by you.

Shonee Kapoor (Expert) 03 November 2011
I agree with experts and more particularly with Ld. Mr. Prabhakar Singh.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

DEFENSE ADVOCATE.-firmaction@g (Expert) 03 November 2011
So many experts for a FIVE RUPPEE cheque bounce problem.

Advocate. Arunagiri (Expert) 03 November 2011
I think there will be typing mistake, no body will seek credit for Five rupees for a mobile phone dealer.

I think it will be five _ _ _ _ rupees.

Sailesh Kumar Shah (Expert) 03 November 2011
I also think the same.

prabhakar singh (Expert) 03 November 2011
jsdn is very very technocrat but problem is other wise my friend!

Jai Karan Nagwan (Expert) 06 November 2011
Dear all please consider this to be 5000/, but issue of legal notice at first instance is not ethical and viable. if notice is issued, its like gun fire and closes all modes of negotiation and settlement and drawee has to file suit. so one shall avoid issue of notice untill it is sure that intentionof the drawer is to defraud.

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