A Brief Account Of Cheque Bounce Case Rules

What is Cheque Bounce?

Dishonoring payment cheques and returning them to the bearers with payment is a common process. Without a doubt, it is an illegal process and the receiver of the money can file a lawsuit against the person who is supposed to pay them for any products or service he has bought or availed of. Usually, the banks return the payment cheques if they encounter a few situations. A few common reasons for cheque bounce cases include wrong signatures, insufficient balance in the account, mismatch of figures written on the cheque (both in figures and words), and overwriting anywhere in the cheque. 

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In case you have encountered a situation where the payment cheque

has bounced without payment, then you have two options. First, you can send the drawer a demand notice and then you can eventually follow up by filing a complaint in court. For this, you would need to wait for 15 days for any response from the person who is required to make the payment. Here are a few questions that can help you get a better knowledge of the cheque bounce case rules. 

What is the time limit for a cheque bounce case?

Usually, the cheque bounce case rules allow you to send a reminder for the payment and then wait for 15 days for his response and payment. If you fail to get the payment, then you can file a case and get the payment from the drawer of the cheque within 30 days. So, the total duration is a maximum of 45 days. 

What is the minimum amount for a cheque bounce case?

Usually, the amount is decided by the court. Usually, the drawer needs to pay INR 350 for one cheque per month. The fine increases with time and the same is determined by the court. 

How do I settle a cheque bounce case?

The process ultimately becomes legal if the receiver of the money files a case against you. However, you should settle the case outside the court. You can engage a mediator and complete the process after paying the fine to the bank. 

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How serious is a cheque bounce case?

Usually, cheque bounce cases are serious offenses and are punishable acts. The drawer of the cheque would need to settle the case by completing all the necessary legal formalities. The whole process would be completed within 30 days of receiving the notice from the receiver of the payment. 

You require the assistance of the cheque bounce lawyers to settle the case. You can hire an individual lawyer or reach the experts at the best law firms. You should be very sure about collaborating with the experts at the earliest to settle the case. Knowledge of the latest cheque bounce case rules is important.

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