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Cheque Bounce

The Negotiable Instruments Act, 1881, Section 138, governs issues involving bounced cheque. When a bank doesn't honor a payment, a cheque bounces. A cheque is said to have been dishonored or bounced when the bank returns it unpaid. Wrong signatures, mismatched numbers on the cheque (both in words and figures), and overwriting are a few of the causes. These are minor problems that can be resolved without the involvement of the court. When a cheque bounces because there aren't enough money in the drawer's account, it's a big deal.

cheque-bounce

There are two things you can do if a cheque you received bounces. You can give the person a demand notice, and if no response is received within 15 days, you can eventually take further action by submitting a complaint to the court.

Additionally, because a case for a bounced cheque is time-bound, if the receiver of the cheque does not initiate action against the defaulter within the allotted period, it may result in the receiver of the cheque having no recourse. In order to avoid all the associated repercussions, it is crucial to resolve a case of a bounced cheque as quickly as feasible.

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