cheque bounce on 1st june2012,bank intimtion received on 4th june2012,we issued notice to the default party 26 june 2012. Is it valid notice within time or time is 15day after reciving intimation from bank.
please clerify that what is the time limit to issue notice to the defaulter after receiving intimation of cheque boune from bank, as per new N.I.act ammendment act.