Negotiable Instrument Act – Cheque bounce / Dishonour case for beginners

Posted on May 6, 2013 by consumersahib

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Negotiable Instrument Act – Cheque bounce / Dishonour case for beginners!!

Did your cheque bounced / dishonoured on presentation to your bank?

Then this article is for you. !!

If you have received the cheque by Opposite Party in discharge of his legal liability and the said cheque was dishonoured when you presented to your bank for clearance, then such dishonour attracts prosecution u/s 138 of Negotiable Instrument Act against the Opposite Party.

What will you get if you initiate the criminal proceedings u/s 138 of Negotiable Instrument Act against the Opposite Party?

1. Sent Opposite Party to rigorous imprisonment for period of 2 years and
2. Get double the cheque amount towards compensation u/s 357 Cr.P.C.
3. Also initiate parallel Civil Recovery Suit for money recovery along with past and future interest which runs independent of criminal case u/s 138 of Negotiable Instrument Act.

Thus you have chances to…

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