when a cheque is bounce...!! then what is time limit for issuing legal notice to party??tell me what is usally done in practical life.. if cheque of debtor bounch on 1.april2012...can i send legal notice from lawyer toay??
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limitation act specifies the limit to be 3 years
Mannu,
You can fsend the notice now. else you can resubmit the check and get it bounced again and then send the notice
Now-a-days; a cheque is valid for 3 months from the date when it was issued.
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In your case; now you can't deposit it again into your bank.
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A dishonoured cheque must be NOTARISED within 15 days of its return.
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