ತಾಂತ್ರಿಕ ಕಾರಣಗಳಿಂದ ವಜಾ ಆಗಬಹುದು. || May be rejected on technical grounds. NIA Act section 138

The Negotiable Instruments Act of 1881 (NI Act) governs cheque bounce cases in India, specifically through Sections 138 to 142 and the amendments in sections 143A and 148.
Here's a summary of the law and legal process involved:
1. What is a cheque bounce?
A cheque bounce or dishonour occurs when a bank refuses to process a cheque for payment due to various reasons, primarily insufficient funds in the issuer's (drawer's) account.
2. Reasons for cheque bounce
Common reasons for a cheque bounce include insufficient funds, incorrect or outdated dates, signature mismatches, closed accounts, and technical errors.
3. Legal implications of cheque bounce
Under Section 138 of the NI Act, bouncing a cheque due to insufficient funds is a punishable offense with penalties including imprisonment up to two years, a fine up to twice the cheque amount, or both. The payee can also file a civil suit to recover the amount.
4. Legal action in case of cheque bounce
The payee must send a formal notice demanding payment within 30 days of the cheque being dishonoured. The drawer has 15 days to pay after receiving the notice. If payment isn't made, a court complaint can be filed within 30 days after the 15-day period ends.
5. Cheque bounce involving companies
If a company's cheque bounces, both the company and its directors can face legal action and penalties under Section 148 of the NI Act. #Section138
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