Query about dishonor of cheque

utpal (Querist) 24 September 2012 This query is : Resolved
Sir a coiple of months back i purchased a bike and i havent paid my first instalment . it was due on 7th of this month...the cheque that i gave it to them was dishonored.i will pay it next month.it is dishonored twice this months..what is the consequences..will i be jailed for that ?

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ajay sethi (Expert) 24 September 2012
no you wont be jailed . when legal notic is issued pay by demand draft the cheque amount . or go to dealer and make payment now

Guest (Expert) 24 September 2012
No doubt dishonour of cheque is a criminal offence and there is a provision for jail term, but even if you have received a notice, you can settle the dispute by making payments. But, please don't delay any more in clearing the overdue EMIs and take care in future also to keep sufficient balance in your account to honour future cheques also.