Description:
The latest judgment dated May 3, 2010 of the Supreme Court where the Hon’ble SC has laid down guidelines for compounding of offence and for early settlement in cheque dishonour cases under Section 138 of the Negotiable Instrument
Act Delay in settling cheque bounce cases will now cost the defaulter dear, up to 20% of the cheque amount. The penalty for delayed settlement of the cheque amount, after conviction in the trial court, would rise steadily from 10% in district courts, 15% in high courts to a whopping 20% in the Supreme Court.
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