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.