1.

What is bouncing of cheque ? Explain the provisions of negotiable instrments act on bouncing of cheque.​

Answer»

bouncing of cheque means that the cheque could not be processed due to shortage of funds in an account.under the negotiable instrument act , a bouncing of cheque leads to ISSUING of a legal notice to the issuer of the cheque , if the person doesn't provide any satisfactory ANSWERS to REASON the bouncing of cheque a case is filed against him/her . and if he doesn't shows in the case,a available warrent could also be issued.also, in the recent amendments passed in 2018 it allows the COURT trying an OFFENCE related to cheque bouncing, to direct the drawer to pay interim compensation not exceeding 20% of the cheque amount to the complainant within 60 days of the trial court's order to pay such compensation.



Discussion

No Comment Found

Related InterviewSolutions