138 nia act

share copy of agreement and complete details .

Dear Querist,

As per the Negotiable Instruments Act, 1881, if a cheque is dishonoured by the bank due to insufficient money in the bank account of the drawer then it is a criminal offence. In such a case, the drawee bank issues a ‘Cheque Return Memo’ to the payee’s bank mentioning the reason for non-payment. In turn, the payee’s bank handovers the bounced cheque and the memo to the payee.

Now the payee has the choice to either re-present the cheque within three months from the date mentioned on it or legally prosecute the drawer. If the payee proceeds with the former choice and if even the second time, the drawer fails to make the payment then the payee has the right to sue the drawer. However, the payee can sue the drawer only if the amount mentioned on the dishonoured cheque is to pay off a debt or any other liability of the drawer towards the payee. The drawer cannot be sued in such cases in which the cheque was handed out as a gift or to lend a loan to the payee or for unlawful purposes.

All the 5 parties will receive the notice for the same. 

Regards,

Palak

Mam total 5 party hai agreement mei jinke naam se cheque hai agreement ek hai purpose ek hai notice combine ek hi jayega ya 5 alag alag notice sabhi log bheje ge cheque dene wala party ek hi hai agar ap  boloiyega to aggrement ka copy share karta hu.

agar Cheque alag alag hai to notice bhi alag alag send kijiye. agreement details kya hai?