please solve this..

  Hi everybody, Given below example was a real life situation

M/s  X company ltd has sold goods to M/s ABC a firm in 24^th Parganas in West Bengal. ABC firm has bank account in  SB Bank in 24^th Parganas. ABC has issued a cheuque for Rs  1.00 lakhs to X coy ltd against on account payment towards purchase of goods . Cheque was dated 15^th Jan 2009.  The cheque was presented in Bangalore on 12^th Feb 09 by X company ltd with their banker ( CB Bank ). CB  Bank communicates to X company ltd on 15^thMar 2009 that the cheque got returned   owing to insufficiency of funds. The advice of CB Bank carries a memo from Drawers bank i.e SB bank mentioning the reason that insufficiency of funds as reason for cheque return  and their  advice is dated  20^th Feb 2009. X company ltd has issued demand notice to ABC firm  to honor the payment on 10^th Apr 2009  U/s 138 of NI Act . Kindly discuss on the validity of notice issued by X company ltd.