• Cheque bounce

what is the punishment in cheque bounce case if person found guilty. how many year imprisonment?
Asked 8 years ago in Business Law

Ask a question and receive multiple answers in one hour.

Lawyers are available now to answer your questions.

1 Answer

Punishment - Imprisonment up to two years, or with fine up to twice the amount of the cheque, or with both.

What the aggrieved party has to do in order to get the above relief:

(a) Cheque needs to be submitted to the bank within six months from the date on which it is drawn or within the period of its validity, whichever is earlier;

(b) Notice needs to be submitted to the drawer of the cheque informing that the cheque has bounced within thirty days of the receipt of information from the bank that the cheque has bounced; and

(c) the drawer of such cheque fails to make the payment of the said amount of money within fifteen days of the receipt of the said notice.

Durbadal Banerjee
Advocate, Bangalore
2 Answers

4.0 on 5.0

Ask a Lawyer

Get legal answers from lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer