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Sanjeeva Sinha   14 October 2024

Cheque bounce

A cheque was bounced due to insufficient fund and on 17.08.2017 a notice was issued for the payment. However the bank account was freezed on 22.08.2017 by SEBI.

Kindly suggest the probable defence argument.



Learning

 5 Replies

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     14 October 2024

There was no freeze on the account on 17-8-2017. Hence you have no defence. Why are you asking this question after more than 7 years?

1 Like

Advocate Bhartesh goyal (advocate)     14 October 2024

Yes, your account was freezed on 22-08-2017 while cheque for encashment has been presented on 17-08-2017 and thereafter having received notice you didn't make payment so now you have no defence better make the payment  and settle the matter.

 

1 Like

T. Kalaiselvan, Advocate (Advocate)     14 October 2024

The freezing of your bank account is not the problem of the drawee of the cheque.

If you do not comply with the demands made in the legal notice then you would be liable to be prosecuted for the said offence

1 Like

P. Venu (Advocate)     14 October 2024

How you are concerned with the alleged freezing of account?

The Perfect Solutions (Advocate)     17 October 2024

The lender should have certainly sent a legal notice demanding the cheque amount. To prove your bonafide, you should have made the payment irrespective of the fact whether the account is frozen or not. Even now it is not too late. You can file a memo before the court along with the DD for the dishonoured amount. This will save you from prosecution. Fellow members please correct me if I'm wrong.


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