Cheque bounce

MOHAMMAD S SIDDIQUI (Querist) 05 May 2015 This query is : Resolved
I helped financially by a loan of Rs. 45000.0 to my acquaintance in emergency seven months back. He promised to pay back within few months but...failed when grilled he gave a cheque which bounced. Pl advise further line of legal action. Thanks and Regards

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Jeetender Gupta (Expert) 05 May 2015
Legal Notice (Notice of Demand) within 30 days to issuer of cheque U/s 138 Negotiable Instrument Act giving them time of 15 days to make payment. If payment not received, need to file criminal case in court where bank of cheque issuer lies.

Advocate Bhartesh goyal (Expert) 05 May 2015
You have to issue notice to drawer of cheque within 30 days of bouncing cheque demanding therein cheque amount and if notice is not complied with then you have to file complaint against drawer in court.

Rajendra K Goyal (Expert) 05 May 2015
Agree with the experts.

ajay sethi (Expert) 06 May 2015
you can file summary suit for recovery of your money in addition to complaint under section 138 NI . but your costs will far out weigh amount sought to be recovered

SAINATH DEVALLA (Expert) 06 May 2015
advised well by the experts,engage a local lawyer well versed in NI Act and proceed.

Dr J C Vashista (Expert) 06 May 2015
Well advised, I agree with experts.

T. Kalaiselvan, Advocate (Expert) 08 May 2015
First issue a legal demand notice, if he still fails to repay, you may file cases both in civil and criminal courts of law.

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