138 of NI Act

Guest (Querist) 29 April 2010 This query is : Resolved
Dear All Ld. friends

is any statutory notice of Demanding payment within 15 Days from the date of Notice. (pls give n e judgement if it is less then 15 days)

In demand notice party has to be demand the amount of cheque bounce. if not demand then what will happened. (pls give n e judgement if no demand is made out in notice.)

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Suryanarayana Tangirala (Expert) 29 April 2010
S.138 N.I ACT makes it mandatory to issue a 15days time(from date of receipt of notice) which is mandatory.The object of notice is to rectify his omission and also to protect an Honest Drawer.
A notice cannot be said valid if it didnot specifically contain any demand for the payment of cheque amount[Indira VS Adinarayana- AIR 2003 SC 4689 ]