+91 88262 30101Cheque Bounce
A cheque bounce is an offence under Section 138 of the Negotiable Instruments Act, 1881 (“Act”) punishable with a fine which can extend to twice the amount of the cheque or imprisonment for a term not more than two years or both. When the payee presents a cheque to the bank for payment, and the cheque is returned unpaid by the bank with a memo of insufficient funds, the cheque is said to have bounced.
A cheque bounce can occur for several reasons, but if a cheque bounces due to insufficient funds in the drawer’s account, it amounts to an offence under the Act. The bank must reject the cheque presented for payment with a return memo stating the reason as insufficient funds. In such a case, the payee of the cheque can issue a cheque bounce notice to the drawer demanding to pay the cheque amount.
There is no restriction regarding the number of times a cheque can be presented. However, when you present the cheque and it is dishonoured again, it will give rise to an additional cause of action for filing a complaint under Section 138 of the Negotiable Instruments Act, 1881.
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Frequently Asked Questions
A "virtual law firm" is just a legal office that operates entirely on the web. It is just like a traditional firm but these online law offices are subject to the same regulatory rules. So, you can trust that the legal services you get from them are on the up and up.
Virtual law firms are seriously cool for clients. They focus on giving you a custom experience using online platforms, which can make dealing with a lawyer a breeze. They use stuff like easy-to-use communication platforms for both sides. You usually find this in the form of web chats, video chats and even interactive virtual assistants. Plus, technology helps lawyers work faster. So, you can expect quick delivery times when you work with virtual law firms.
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With cloud-based platforms, our team can collaborate effortlessly, irrespective of their geographical location. Investing in video conferencing tools, messaging apps, and project management software will not only boost communication but also optimize the workflow processes.
Foster a culture of regular check-ins, virtual meetings, and video conferences to ensure our team is always up-to-date. Leverage instant messaging platforms such as Slack for swift, real-time questions and updates.Here's an idea - setting up dedicated channels for specific cases or practice areas.This will keep your discussions on point.1
