What Is The Procedure When A Cheque Dated The Previous Year Bounced And One Came To Know About It The Subsequent Year?
What is the procedure when a cheque dated the previous year bounced and one came to know about it the subsequent year?
Free Legal Advice - cheque bounce
Posted by: hemant kataria
Posted on: 2018-09-12
Deposit the cheque and if it bounces by the Bank, that is it showed "insufficient funds", then Bank will be liable to give the endorsement. Within 15 days of receiving this endorsement, a legal notice must be sent to the defaulter giving him 30 days time to make the payment. If within 30 days he/ she does not make payment then one can proceed with filing of a Complaint as per the Negotiable Instruments Act.
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