I sold out my house against for which the payment was made in parts from the buyer.
Part payment was done through bank loan. And for the remaining amount a post dated cheque was issued. The cheque details (cheque number and the amount) were mentioned in the registration document.
However, the buyer of the house is not letting the cheque to be cleared as he is continuously telling that there is no balance in the account owing to which we are not able to submit the cheque in the bank. It is already a month from the date of the cheque.
Request you to help us describe what would be the impact of cheque being bounced, so that we can take the further course of action accordingly.
Also help us with the instructions how to go about in resolving this issue.