consequences of cheque bounce in india | |
A cheque bounce in India occurs when a cheque issued by an account holder is returned unpaid by the bank due to insufficient funds, mismatched signatures, or other discrepancies. Under the Negotiable Instruments Act, 1881, specifically Section 138, cheque bouncing is treated as a criminal offense if the cheque was issued to discharge a legally enforceable debt or liability. The consequences can be serious—upon receiving a bounced cheque, the payee must send a legal notice to the issuer within 30 days of receiving the bounce memo from the bank | |
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| Target State: All States Target City : Chandigarh Last Update : Apr 07, 2025 6:00 AM Number of Views: 26 | Item Owner : NRI Legal Contact Email: Contact Phone: 07428899979 |
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