Pick up immediately after the check bounces, these steps will not be killed||AllBestNews||

Pick up immediately after the check bounces, these steps will not be killed

If someone has given you a check and you deposit it in the bank to get cash, then it is necessary that the issuing of the check should have at least the amount of money in which the check has been issued. If there is no such money in his account, then the bank dishonours the check.

If someone has given you a check and you deposit it in the bank to get cash, then it is necessary that the issuing of the check should have at least the amount of money in which the check has been issued. If there is no such money in his account, then the bank dishonours the check. This is called a check bounce. When a check is bounced, a slip is also given by the bank. This slip contains the reason for checking bounced.

If the check is bounced, firstly, the issuer of the check within one month has to send a legal notice. It is said in this notice that the check which he had given is bounced. Now he should give him the check amount within 15 days. After that, wait for 15 days if the check payer pays the money in 15 days, then the matter is settled here.

Filed in Civil Court

If the check issuer refuses to pay or does not respond to legal notice, you can file a case in the civil court under Section 138 of the Negotiable Instrument Act 1881. Under this, the accused can be both a punishment of two years and a fine. The amount of the penalties can double the amount of the check.

After filing a case, you can appeal to the court that the issuer of the check will get some part of the check amount in the beginning. After this, the court usually gives 20 to 30 percent of the amount of check in the beginning.

If you win, then the court gives the money to the issuer of the check and also the amount that you have received at the beginning is also with you. If you lose the case, the money you have received at the beginning of the case has to be returned with interest.

Criminal Cases can also be filed

In the case of check bounce, you can also make criminal cases under section 420 of Indian Penal Code. For this it is to prove that the issuer of the check was intended to be dishonest. For this, the accused can be both a seven year jail and a fine.

Who can issue checks

Let us know that a person can issue a check and the company can also issue it. Apart from this, other institutions including the Trust and Society can also issue checks. With this, also tell you that any check is valid only for 3 months from the date of issuance.

When - when it is bounced

1. If there is no money in the check issuing bank account.

2. If the check issuer's bank account has less money than the amount written in the check.

3. The issuer of the check has not signed the signature correctly.