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138 - Cheque Bounce Notice Online

Addressing Bounced Cheques Lawfully
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About

A 138 Cheque Bounce notice refers to section 138 of the Negotiable Instruments Act in India. This section makes it a criminal offense to issue a bounced cheque, or a cheque that cannot be honored by the bank due to insufficient funds or some other reason. If a person issues a bounced cheque, the recipient can file a complaint under Section 138 and the issuer can be liable for punishment, including imprisonment and/or fines.


documents

Documents Required

Keys Points to be included in a 138 Cheque Bounce Notice: 


  • Date of the notice: The date on which the notice is being issued.

  • Details of the issuer: The name and address of the person who issued the bounced cheque.

  • Details of the recipient: The name and address of the person who received the bounced cheque.

  • Cheque details: The date of the cheque, the cheque number, the amount, and the name of the bank on which the check was drawn.

  • Reason for bouncing: The reason given by the bank for why the cheque bounced (e.g. insufficient funds).

  • Demand for payment: A clear demand for payment of the amount due, along with a deadline for payment.

  • Threat of legal action: A warning that legal action will be taken if the issuer fails to make payment by the deadline.

  • Signature: A signature of the recipient or their authorized representative.

  • Contact information: The recipient's contact information, including phone number and email address.


benefits

Benefits

Benefits of sending a 138 Cheque Bounce Notice: 


  • Legal remedy: It provides a legal remedy for the person who received the bounced check and gives them the option to take legal action against the issuer.


  • Deterrent effect: It can act as a deterrent to people who issue bounced cheques, as they know they could face legal consequences if they do so.


  • Debt recovery: It can help the recipient recover the debt owed to them, as the issuer may be more willing to pay once they receive the notice.




process

Process

Procedure to send 138 Cheque Bounce Notice:


  • Verify that the cheque has actually bounced by checking with the bank.


  • Prepare a notice in writing, mentioning the details of the bounced cheque, including the date, cheque number, amount, and reason for bounce.


  • Serve the notice in person or through registered post to the drawer of the cheque within 30 days of receipt of information from the bank about the bounce.


  • If the drawer does not make payment within 15 days of receipt of the notice, you can file a complaint in the appropriate court where the Cheque is bounced.



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