Q:Dear Mr Baska Reddy,I have been followed up and finally got Chq No 001270 after 7 Months.But your chq was bounced in Oct 2016.Till today your staff Mr Sudhakar & Mr Ashish was giving falls commitments and I am not sure when they going to clear my Payments . Kindly take initiative & clear the same AEAP
Latest Answer: Yes, In case of cheque bounce, the receiver has to send a Legal Notice to you within 30 days of bouncing of the cheque. Once you receive the notice, you are required by law to pay him the money within next 15 day.
If you fail to pay the money within 15 days, the receiver gets the right to file a criminal case against you under the Provisions of Section 138 of the Negotiable Instruments Act, 1881, for cheque bouncing and you are at a risk of sitting into jail.
