Kanika
CHEQUE BOUNCED ? WISH TO RECOVER THE AMOUNT ?
Kanika bhardwaj 18 Jun 2018

CHEQUE BOUNCED ? WISH TO RECOVER THE AMOUNT ?

1- Immediately ask for the "bank memo" from the bank where you have deposited the cheque.   2- Send a Legal notice within 30 days- Sending a legal notice is mandatory in cheque bounce cases.  3- Give 15 days time to the accused through a legal notice to settle the issue. If the accused is ready to pay the amount back after receiving the legal notice then get a " settlement deed" drafted and notarize it in presence of witnesses.  4- If the accused does not settle the issue within 15 days, you have to file a complaint u/s 138 N.I Act before the Hon'ble Court. 

Important to know:

1- That 138 complaint can only be filled if the steps are taken within prescribed time.  Or else you will lose your right to claim your money.  2- 138 is a criminal offence. Thus, police gets involved in such cases and accused person has to obtain bail or else warrants are issued against accused and he can be arrested too.  3- The only documents required to file 138 is a bounced cheque, bank memo, copy of legal notice. 3- It is a very speedy process. And most of the cases gets settled before the judgement only because accused is under pressure of getting arrested.  Kanika Bhardwaj Advocate, New Delhi B.A,LLB,LLM (Business Laws) +91-9582000415

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