Free Legal Advice - banking financial
Posted by: Prateeka Singh
Posted on: 2018-09-19
Under Section 138 of the Negotiable Instruments Act, cheque bounce or cheque non-payment in a serious offence in India punishable with imprisonment or fine. A Section 138 Notice must be presented to the cheque issuer within 30 days of return of cheque due to be valid. Its important to send the Cheque Bounce notice through registered post, so that the date of issuing notice can be recorded formally. One copy of the letter can be retained by the cheque’s beneficiary while the other copy is delivered to the cheque issuer through registered post. Once the case is filed, the court will hear the case and issue a summons under Section 138 of the Negotiable Instruments Act.
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