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anil bansal (partner)     28 August 2013

Validity of cheque issued from an old ceque-book

sir, i was issued a post-dated cheque by someone from his personal saving account but now he is refusing to clear it. I confirmed from the bank regarding the account and cheque. His account is activated but that cheque was issued to me from an old cheque-book of ten years by that person intentionaly and now he is saying that if i draw that cheque in bank, he will complaint against me in police that he did not issued that cheque on the plea because that cheque is ten years old. My question is that what should i do ? Is that cheque is expired and have no validity? should i draw that cheque in bank? Please explain in detalis positive and negative points. Thanks.



Learning

 7 Replies

Kolla Gangadhar (Practicing Advocate since 1986)     28 August 2013

Cheque is valid for 3 months from the date written on cheque. You deposit  cheque in the Bank for collection, if it is dishonoured  you  issue statutory legal Notice Under Section 138. of N.I. Act, Drawer of cheque fails to pay cheque amount within stipulated time from the date of receipt of legal notice you file  case in the court for offence Under Section 138 of N.I. Act.

BSNbanbans (manager)     28 August 2013

As per RBI letest noms cheque is valid only for 3 month.......and please check the same should be in CTS also and all bankes follows RBI normes so it say that the bank will pay the amount may be wrong...

 

regards

madhu mittal (director)     28 August 2013

Respected Sir,

Till date, there is no guideline to banks that only CTS cheques will be honoured. All cheques will be honoured, but non-CTS cheques may take longer time in honouring in process.

With regards.

Advocate Bhartesh goyal (advocate)     28 August 2013

 

The Reserve Bank of India (RBI)  extended the deadline to migrate to new-look cheques (CTS-2010 Standard cheques) with more security and standardised features to  31 july 2013 from   31 march,2013.

BSNbanbans (manager)     28 August 2013

Dear @ Advocate Bhartesh goyal Sir,

u are write RBI already extended the time for CTS it was sleeped from my mind but I think the meening of CTS if fast processing of payments. and other securty reason.

 

Regards

Manish Kumar Gupta (Deputy Legal Manager)     29 August 2013

Dear Anil,

For proving your case in court you should have a valid reason or transaction against which that cheque is given to you by that person.

Validity of cheque starts from the date of issuing that cheque not from the date of Cheque book. As he is saying he will inform police, than he also needs to proove that he has not signed that cheque.

Since the date of CTS is already extended till 31st July 2013, you should present the cheque to the court and do further proceeding as suggested by Mr. Gangadhar.

Thanks.

Shantilal Pandya ( Advocate)     02 September 2013

The cheque issued is valid to fasten the drawer with  liability to pay , even if the bank does honor it for its own reasons ,the civil liability to make payment by the drawer is not affected.


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