News India Live, Digital Desk: (Chqueue Bounce rules) Passbook is available with a bank account, along with a checkbook. It contains many checks from which you can easily transact money, especially in a digital way.
But if you use checks, it is very important to take care of some things, otherwise it can be difficult. Especially when you give a check to someone and do not have that much money in your account! When this happens you Punishment can happen till Therefore, the rules of using checks should be understood well. Also, know how many years you can be jailed if you have a check and no money in the account.
Why is a check bounce?
When you pay someone by check, that person deposits that check in his bank. If for some reason the bank does not pass that check (rejects), then ‘Check Bounce’ It is said to be.
Most check bounces occur when There is not that much money in the account The check of as much has been deducted. Apart from this, the check can also be bounced for these reasons:
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No matching of signature.
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Re -writing (overwriting) on the check.
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The separation of the amount written in words and numerals.
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The date of the check is removed (be older than 3 months).
Bank also puts panel on check bounce
When the check bounce is, there is a legal punishment and fine, as well as your The bank also imposes penalty on you And this amount is deducted from your account. Panelty of different banks may vary.
What is the legal process?
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Information: When the check bounces, the bank gives a receipt (slip) to the person who deposits the check and the information is also informed. This receipt is necessary for further legal action.
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Payment time: To the person who gives the check One month It is a time to pay that amount to the person who takes the check.
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Legal notice: If the money is not paid in a month, the person you gave (check creditor), that you have a check Legal notice can send.
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Case registered: To get notice 15 days Even inside, if you do not give any answer or do not pay money, then ‘negotiable instrument act 1881’ against you Section 138 A case can be registered in the court under.
Check on check bounce
In the eyes of law, check bounced one criminal case It is believed.
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There may be punishment if a case is registered under Section 138.
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Wrote on check in it Fines up to double the amount Or Jail for two yearsOr may be both.
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Check amount often to give check with interest Have to pay.
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A case of check bounce is registered where the check is given or where it has a bank account (where the check has been presented according to the new rules).
How many days the check lasts (validity)?
Remember, only from the date of release of any check three months Till it is valid. After three months, if you put it in the bank, the bank will not accept it and it will become invalid.
Therefore, while using the check, always keep enough balance in your account and fill the check details correctly.
