Complaint under sec 25 of payment and settlement systems act, 2007

Section 25(1) in The Payment And Settlement Systems Act, 2007

(1)Where an electronic funds transfer initiated by a person from an account maintained by him cannot be executed on the ground that the amount of money standing to the credit of that account is insufficient to honour the transfer instruction or that it exceeds the amount arranged to be paid from that account by an agreement made with a bank, such person shall be deemed to have committed an offence and shall, without prejudice to any other provisions of this Act, be punished with imprisonment for a term which may extend to two years, or with fine which may extend to twice the amount of the electronic funds transfer, or with both:

Section 25 of the Payment and Settlement Act offers that strict provision; since the section clearly states that before complaining under the said Act for recovery of money, the payee must intimate the payer vide a written notice seeking the payment of the dishonoured money or the payer will be punished.

You may issue a statutory demand notice as you would be sending for normal demand notice for recovery of money, you can change the contents as per the prevailing cirrcumstances