Surya (Manager) 17 December 2012

New cheque norms - impact on already issued ones

Hi,

As we know from Jan 1st 2013, the old cheques will not be accepted.I was wondering,how this rule is going to impact the postdated cheques. 3 years back, one of my family friends borrowed 2 lakhs and issued 2 cheques for the same without date . Now he is refusing to repay the money, so thinking to cash the cheques, and if they bounce, planning to file a case.

After hearing the news abt the new norms, I am afraid that I'll be losing the chance to get my money back. I am an NRI and currently cannot travel to India. Initially I thought I can try cashing the cheques when I'm back to India in 2013.

Any suggestions or advice is greatly appreciated!!

Thanks!!

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7 Replies

Raja (XYZ) 17 December 2012

A post dated cheque, after 31st Dec, need to be renewed by a fresh new cheque. for this you need to send a notice to the issuer. and if the party refuses to issue a fresh cheque, you have civil as well as criminal remedy. from abroad also you can file case in India against the accused if desired so. for any further assistance, feel free to contact me. good luck !

Ashish Singla 098140 76600 (Cheque Victim's Lawyer. LUDHIANA (PB)) 17 December 2012

Hi Surya ji,

This new process of new cheque system has been postponded for further 3 months i.e 01.04.2013, dont worry . manage further.

C. P. CHUGH (Practicing Lawyer) 17 December 2012

Dear Surya,

The proposed New Standard Cheque has been in force in certain Metros since 2010. Pls re-look at the cheque leaves in your posssession and see whether CTS-2010 is printed on the left side of the Cheque. If it so, it is CTS-2010 Standard Cheque and can be presented any time, other wise you have now time till 31st March 2013 to present and encash/bounce the old series cheques.

chandramohan (partner) 17 December 2012

i had paid cash payment of rs 20,00,000.00 against a blank cheque to my friend. the cheque is witout CTS-2010 with no other deed. my friend now refuse to issue new cheque and also not ready to retun my amount. moreover the money issued has not been accounted . is there any problem to recover the money from him based on the cheque ,cash amount which is not shown in my income tax accout.

Santosh Sharda (self) 17 December 2012

The problem is as it already existed. Even for a proper valid cheque, if you proceed in a court of law, you have to prove that the other party owed you the amount.