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CONSULT THE BEST CHEQUE BOUNCE LAWYERS IN KOKAR, RANCHI

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Lawyers for Cheque Bounce in Kokar, Ranchi

The cheque is basically a negotiable instrument. The person issuing the cheque is called drawer & the one receiving is called payee &  the bank who is being directed to pay is known to be drawee. If a cheque is crossed then it is not negotiable by anyone else other than the payee.


In kokar, ranchi, the party issuing the cheque will be committing an offense criminally if the cheque gets dishonored or bounced for the inadequacy of funds. Cheque bounce offense is culpable/ punishable with a term of imprisonment for up to two years or with a fine that's twice as the amount of the issued cheque that gets bounced or both. 


Hence, it is significant for small and medium-sized business organizations to comprehend their rights, responsibilities, and obligations with respect to cheque bounce and maintain funds to keep up with such financial discipline in order to avoid such situation & to evade such occasions.


In explicit conditions, the bank may deny payment of cheque or may consider cheque to be dishonored, then a cheque will bounce in such cases. At the point when the cheque gets dishonored for inadequate funds in the record of a client, that cheque bounce is treated as an offense under Section 138 of The Negotiable Instruments Act.


In order to initiate your case under section 138, these three conditions should be fulfilled.

  1. Cheque bounce case time limit - Cheque must be produced under 3 months from the date of issuance or within its validity period.

  2. Cheque bounce notice - The payee must have made a demand to the payor for payment by registered notice as and when it is notified that the cheque is returned unpaid.

  3. The time period to facilitate- Within 30 days of the receipt of the notice if the payor fails to full all the payment.


If all three clauses get fulfilled then one can exercise prosecution under section 138.


Purposes behind Check Bounce: 


A check can be bounced on account of the accompanying reasons. 


a. Deficient Balance: Insufficient balance of funds in the drawer's A/c to process any payment.


b. Signature: If the signature of the drawer is missing or indistinct or doesn't appear to coordinate the one in the Bank's information. 


c. Account Number: The account number that is absent on the check or not should be referenced in a readable manner. 


d. Amount: If the amount doesn’t match in words or figures.


e. Overwriting: If anything like signature or amount is overwritten.


f. Name: If the name is not matching the account holder's name or any such discrepancy.


g. Alterations: If any alterations are made which are not supposed to be done without payee/drawer’s consent.


Other Relevant Implications of cheque bounce.


Notwithstanding the criminal offense, bounced checks can likewise impact the creditworthiness of the party or credit history for that matter. In spite of the fact that these bounced checks don't generally appear on conventional credit reports, they consider the financial balance proclamation. Banks both Nationalised and NBFC's today require the client to furnish all their bank statements for a time period of as long as 1 year for any loan to get processed. In the event of many cheques bounces by an account, it can affect the creditworthiness of that party in a bank and can potentially reflect poor for loan grants. 


Recent Amendments

In Section 143A and 148 of Negotiable Instrument’s Act, recent amendments are made which make additions to these provisions of the NI Act.


Section 143 has now new addition in the amendment made in 2018 of Section 143A which now entrusts the court to try and attempt an offense under S 138 to empower the drawer of the check to pay to the drawee compensations as needed for Summary trails/summons where he contends to argue not guilty to drawee's allegations.


Section 148 further enables the Appellant Court to proceed with the demand that is pending in the appeal against conviction under S 138 of the NI Act.


In order to ensure you are covered under such circumstances, it is important to contact a creditworthy Cheque Bounce Lawyer who will ensure that you being the aggrieved party gets what’s deserved.


You can contact lawyers across our Lawtendo platform who will ensure to take just and necessary measures to comply with your case tailor fit and get you a better deal on the table.


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