📖 Shri Ganpati Jurists Learning – Understanding Cheque Bounce Cases 📖
💡 Key Points About Section 138 of the Negotiable Instruments Act:
✔ Cause of Action – Arises when the cheque amount remains unpaid 15 days after the recipient receives the demand notice.
✔ Legal Notice – Must be sent to the drawer within 30 days of cheque dishonor.
✔ Jurisdiction – Case can be filed where the payee’s bank is located.
✔ Punishment – Up to 2 years imprisonment or fine up to twice the cheque amount.
✅ Timely action is crucial—know your legal remedies in cheque bounce matters.
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