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November 21, 2024 5:35 AM

Of Law & Legal

Cheque Bounced & Cheque Dishonoured – Can You Land In Jail?

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Cheque Bounce
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Cheque Dishonoured happens due to irregular sign, wrong date, etc, but Cheque Bounce occurs only due to insufficient funds.

Cheque Bounce

If the cheque issuer fails to make a fresh payment within “30 days” of receiving the notice, the payee has the right to file a criminal complaint under “section 138” of the Negotiable Instrument Act.

Cheque Dishonoured

Cheque Dishonoured

Cheque Dishonoured

According to “section 138 “of the Negotiable Instrument Act, Cheque Dishonoured is a criminal offense; its punishable by imprisonment for up to two years with a penalty, which is twice the cheque amount.

 

 

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