It feels terrible watching your cheque getting bounced back by the bank. You were supposed to receive a payment against some services provided or a loan provided by you and what you got was a pathetic “Fund’s Insufficient” memo from the bank. At Cheque bounce lawyer , most of my clients either freak out or do nothing at all about receiving a legal notice. Both reactions are detrimental. Filing the case quickly does not necessarily mean you have to file it aggressively, it merely means you should be prompt and know the laws of Negotiable Instruments Act, to your advantage. Recover your money quickly by treating this legal avenue as another business recovery channel and not just confining your thoughts to courtrooms and judges. You heard it right from the top drawer again. Advocate BK Singh says that the difference between the guy who gets his money in a week and the guy who litigates for 5 years can be the difference in how well you prepare your legal notice and how fast you file your documents. Cheque bounce cases take forever these days, specially if you are from Delhi NCR, Ghaziabad or Noida. The simple reason is that default is the norm and anything quicker than 2-3 years is considered early. By taking immediate action you put pressure on the drawer of the cheque. Believe me when I say this, but Advocate BK Singh has seen thousands of these cases and the only times debtors pay-up is when they know you mean business. They know you mean business when you start the criminal proceedings against him within the period of limitation. The Negotiable Instruments Act, 1881 is the primary law that we are dealing with here. Section 138 will be the primary cause of action for your complaint. Section 138 NI Act is a STRICT liability offence. The court will not entertain your reasons to why the person owed you money. If there was a legally enforceable debt against the drawer of the cheque, and the cheque was issued by the drawer to discharge that debt, you should have no problem. However, BK Singh has seen multiple cases where the complainant is unable to prove that there was a “legally enforceable debt”. Everything you send to the borrower/applicant has to be technically correct. This article is for anyone out there who has suffered due to non-payment of dues. It could be you Mr. XY who owns a business in Delhi or Gurugram and have been duped by your B2B customers. It could be you Mr. Z who lives in Hapur or Kanpur and had trusted someone for returning your hard-earned money. It could be you Mr. Startup who raised funds from your Friends and have been given a blank cheque. Or it could be you Ms. Senior Citizen whose son-friend cheated you by accepting a post-dated cheque from you. If you have a cheque which has been dishonoured by the bank, you are a creditor and the law has provided you with statutory rights. Meet Adv BK Singh the law will guide you in the right direction. Clients come to me after they have shot themselves in the foot. Here are some of the common mistakes that I have come across. Hiring a Professional makes sure you don’t fall into the above traps. I have handled thousands of cheque bounce cases from Delhi NCR to other states. Right from drafting the Notice to representing you at cross-examination, I will guide you through every step of the process. You should immediately contact your bank and find out the reason for the same. You are mandated to send a legal notice to the drawer within 30 days from the receipt of Cheque Return Memo. So, it is of utmost importance that you start your recovery process as soon as possible. BK Singh Yes. It is mandatory to send a legal notice within a period of 30 days from the date of receipt of Cheque Return Memo. Section 138 of NI Act mandates the same. If you fail to send a legal notice within the prescribed time, the court will reject your complaint straightaway. Amount of the cheque, Reason for dishonor of cheque, Demand for payment within 15 days of receipt of notice and intimation of initiating a criminal proceedings against him. You have 30 days to file a criminal complaint before the magistrate against the borrower. Thereafter the courts takes its course. In most of the cheque bounce cases, your lawyer can appear on your behalf. However, there may be certain occasions where you’ll have to appear before the court. Let your lawyer guide you. Yes. The Courts have awarded amounts much higher than the cheque amount. You can recover the compensation which would include interest on the due amount and costs you have incurred. A verbal promise is very hard to prove. It’s better that you avoid such settlements. Always go for a documented agreement or a legal settlement letter. Security cheques have now become a valid ground to initiate criminal proceedings under Section 138. Analyse your documents thoroughly and we will let you know if you have a viable case against the borrower. Yes. You can file your complaint where you deposited the cheque for collection. This is usually to the advantage of the complainant. We will analyse the facts and let you know the best forum to initiate a criminal proceeding. There is no shortcut to recovery. All you have to do is ensure that you send the notices immediately, maintain a clean paperwork and be willing to settle early. We have years of experience handling such cases and will use the same to our advantage. Don’t let your dues turn-up stale. If you have a cheque which has been dishonoured, contact us today to find out how we can help you recover your dues. Call / Whatsapp to book an appointment.How Can You Recover Money Faster After a Cheque Bounce?
Why Speedy Recovery Important in case of Cheque Bounce
Five quick facts related to 138 NI Act you should know
Know Your Primary Law
Who is this article for?
How do I recover my money quickly?
Documents you will require
Mistakes to avoid while recovering your dues.
Advocate BK Singh will help you?
FAQ’s
1. What should I do after my cheque bounces?
2. Is issuing a legal notice mandatory?
3. What all should be included in a legal notice?
4. What happens if the borrower doesn’t pay after issuing the notice?
5. Do I have to appear in person every time?
6. Can I recover interest on due amount from the borrower?
7. If the borrower gives a verbal promise to pay, does it mean we have an effective settlement?
8. What if the cheque was issued as a security cheque?
9. Can I still file a complaint if the borrower resides in a different city?
10. How can I expedite the process?
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