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consequences of cheque bounce in india
A cheque bounce in India can lead to both civil and criminal consequences under Section 138 of the Negotiable Instruments Act, 1881. The payee can file a legal complaint if the cheque is dishonored due to insufficient funds or other reasons like mismatched signatures. The drawer may face penalties, including fines, legal costs, and compensation to the payee. Criminal proceedings can result in imprisonment for up to two years and/or a fine up to twice the cheque amount. Additionally, it can harm the drawer's creditworthiness and banking relationships.
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Target State: All States Target City : Chandigarh Last Update : Jan 17, 2025 4:12 AM Number of Views: 22	Item Owner : NRI Legal Contact Email: Contact Phone: 07428899979

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USNetAds > Communities > Services Offered > Item ID 130742841

2025-01-18 (0.588 sec)