first party name printed on cheque book but secound authority sing on cheque.I had fillied the case to first party, but i have no solution found, please sujested me what i can for recovered our money.
"Don't let your mouth write a cheque your cheques can't cash."
1. A cheque can be bounced when it has been cancelled by the person who wrote the cheque or if he does not have sufficient money in his bank account. 2. If your customer gives you a check, you should wait until the check is cleared before providing goods to your costumer. 3. It is obvious that to avoid your check get bounced, you should carry higher balance in your bank than the amount you write on cheque. 4. You should use and accept credit or debit cards instead of cheques.
to recover your own money you've to first hire lawyer who will charge fees, you've to pay a deposit in court out of which 2/3rd is refundable after the case is settled. then hearings are not so fast. what you get is date. the criminal may leave the place and run away or remain untraceable. you send arrest warrant which may come back stating that the address was wrong or not existing. though the party may still be living there. (system is corrupt). one may ask what kind of deposit is to be paid in court when filing case. See now days courts have started asking a certain amount of deposit to ensure your case is genunine i.e. you will not waste courts time i.e. to discourage people from withdrawing case at later stage when judgement is to come as parties usually arrive at settlement. my experience is don't do business on credit. only when money comes in your account then deliver goods. see you are ethical. if party is not satisfied you can replace goods but where will you run if he defaults? competition is intense but if you want to survive refuse credit and insist cash. many times traders are tempted to sell on credit because of intense competition. hence these days you see students want jobs and no one wants to do business. Apna paisa vasool ne ke liye bhi bheek/g***d marwani pad ti hai. Upar se party ka natak ki nahi deta paisa jo kar sakta hai kar le. there are cheques to tune of crores lying bounced with our lawyers in various cases of various parties. very sorry situation
Re: its a long legal battle.
by prem k on Dec 09, 2011 10:42 AM
it is okay for traders and businessmen. But I think that many cheque bouncing cases happen these days in the reality industry - for example, builder not able to deliver house for which advance is paid and then gives a cheque and wraps up business. These cheques are usually bouncing and the customer has lost his life savings.
It is easy to say that use cash for all sort of trading, but it is infeasible for large amounts
I got a cheque from one person (He has taken for his building construction) and it got bounced, now i want to file a case against him. He has sold all his properties (which on his parents name)and changed the address and i don't have the new address. what can we do in that situation?
I jus hav an enquiry: If the post dated cheq is given on mutual understanding for business purposes and there is a dispute between the two on outstanding payments,and the party who has recived the post dated chqs presents the cheq in the bank which will bounce coz the settlement of accounts is not done.... shal it b considered as cheq bouncing.... though all correspndnce is done and it is proved that the outstanding against the party who has to pay is questioning the figure and the outstanding amount shown is wrong.please inform wht can b done in such cases.
Re: cheq bouncing
by RABI KANUNGO on Dec 08, 2011 11:51 AM
No. But in that case you have to inform the your Bank with 'stop-payment' instruction and reasoned communication to the Party with copy to the Bank.
Re: cheq bouncing
by Santosh Pillai on Dec 08, 2011 11:55 AM
It will be considered a bounce and you can be sent a notice by the opp party. When you get that notice you have to bring it to the attention of the lawyer regarding the same and attach all photocopies of evidence that you have in writing or via email. In that case, you cannot be prosecuted under section 138 for cheque bounce. Stopping a payment will also be viewed as a bounce under legal prosecution. Suggest you get all the information/argument in written.
Re: cheq bouncing
by Santosh Pillai on Dec 08, 2011 11:55 AM
It will be considered a bounce and you can be sent a notice by the opp party. When you get that notice you have to bring it to the attention of the lawyer regarding the same and attach all photocopies of evidence that you have in writing or via email. In that case, you cannot be prosecuted under section 138 for cheque bounce. Stopping a payment will also be viewed as a bounce under legal prosecution. Suggest you get all the information/argument in written.
Manner of demand notice should be mentioned by the writer.
As per my knowledge regarding notice under NI Act 138 one should demand via various ways.
1. Demand by payee through written letter sent by Registered/Speed post with AD. 2. Demand by payee through written letter sent by courier with POD. 3. Demand sent through fax with having proof of fax sent. 4. Demand by payee through written letter submitted by hand having proper receipt.
And all above method subsequently through their lawyer.
