Cheque bounce

Ravichandra (Querist) 29 April 2014 This query is : Resolved
Dear Sir,

YESTERDAY WHEN I POSTED MY QUERY THERE WERE SOME TYPO ERRORS WHICH GAVE WRONG MEANING. CAN EXPERTS PASS THEIR VIEWS ON THE BELOW ?

I gave some money to my friend as hand loan and took a cheque from him which I can submit it to bank at later stages.

Now my friend is NOT returning that amount and when I approached bank to submit that cheque (TO BOUNCE)given by him they were telling that its not CTS cheque.

What should I do now ? My friend is flying to America in few more days.

Could you please suggest me on this clearly.

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ajay sethi (Expert) 29 April 2014
query already replied .

Rajendra K Goyal (Expert) 29 April 2014
Non CTS cheque can not be presented in clearing but it can be collected through old process.

If the friend does not agree to transfer the amount in your account through ECS or otherwise, ask the Bank to send the cheque in collection.

Raj Kumar Makkad (Expert) 30 April 2014
No reply against the repeated query.

V R SHROFF (Expert) 30 April 2014
No reply against the repeated query.

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