Take these steps immediately when check bounces: money will not be killed
Check Bounce Ho Jaye To Kya Kare ? you have been given a check by someone and you deposit it in the bank to cash it, then it is important that the issuer of the check has at least as much money as the check he has issued. If there is not enough money in his account, the bank dishonour the check.
you have been given a check by someone and you deposit it in the bank to cash it, then it is important that the issuer of the check has at least as much money as the check he has issued. If there is not enough money in his account, the bank dishonour the check. This is called check bounce. When the check bounces, a slip is also given from the bank. The reason for the check bounce is written in this slip.Check Bounce why.
If the check bounces, the first person to issue a check within a month has to send a legal notice. In this notice, it is said that the check he gave has bounced, now he should give the amount of the check to him within 15 days. After this, you have to wait for 15 days, if the check payer pays that money in 15 days, then the matter is settled here.
File a lawsuit in civil court:
If the issuer of the check refuses to give the money or does not respond to the legal notice, then you can file a case in the civil court under section 138 of the Negotiable Instruments Act 1881. Under this, the accused can get both a 2-year sentence and a fine. The amount of the fine can be double the amount of the check.
After filing the case, you can appeal to the court to get the check issuer some part of the check amount in the beginning. After this, the court usually gets 20 to 30 percent of the check amount in the beginning.
Criminal case can also be filed about Check Bounce:
In case of check bounce, you can also make a criminal case under the Indian Penal Code i.e. Section 420 of the IPC. For this, it has to be proved that the issuer of the check was intended to be dishonest. For this, the accused can face both 7 years in jail and fine.
Who can issue checks:
Let us tell you that any person can issue a check and the company can also issue it. Apart from this, other institutions including trusts and societies can also issue checks. Along with this, let us also know that any check is valid for 3 months from the date of issue.
When Check Bounce :
1. If there is no money in the bank account of the issuer of the check.
2. If there is less money in the check issuer’s bank account than the amount written in the check.
3. The issuer of the check has not corrected the signature.
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