dishonour of cheque
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 August 2010
What can I do when a cheque is dishonoured for the reason of insufficient funds. What legal action I can take to get the amount cleared?
CA Sanat Pyne
(Expert)
01 August 2010
. On the dishonour of a cheque, one can file a suit for recovery of the cheque amount along with the cost & interest under order XXXVII of Code of Civil Procedure 1908 ( which is a summary procedure and) can also file a Criminal Complaint u/s 138 of Negotiable Instrument Act for punishment to the signatory of the cheque for haring committed an offence. However, before filing the said complaint a statutory notice is liable to be given to the other party.
CMA Arif Farooqui
(Expert)
09 August 2010
agreed wit expert...
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