I got issued a Notice u/s. 138 N.I. Act to the Purchaser for payment of an amount in respect of the returned cheque. Within 15 days of receipt of the Notice, Purchaser admitted his total outstanding due and payable by him to me through his letter. Vide the same letter, he desired to pay the total amount in 6 instalments. I acceded to his request and he issued 6 PDCs and paid the interest due on the total outsatnding vide a DD.
Now, the 1st PDC is bounced back on presentation. Now i apprehend that other 5 PDCs would not be honoured and the Purchaser would be taking extension of time on one pretext or the pther.
Kindly, suggest what should be the appropriate course of action to secure the payments?
Thanks and regards
