Guidelines

How long does it take to settle a cheque bounce case?

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How long does it take to settle a cheque bounce case?

A cheque bounce case will realistically take you anywhere from 1 to 2.5 years to conclude. The penalty amount is twice the cheque amount which should be more than enough to cover your expenses and the accused may just want to settle in the meantime.

How long is jail time for bounced cheque?

two years
If the drawer is found guilty as a wilful defaulter, he will be charged with a jail term of two years or a fine which is twice the cheque amount, or both. The defaulter is also given a chance to appeal to the sessions court within a month of the date of judgment of the lower court.

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What happens in cheque bounce case?

In India, a person issuing a cheque will be committing a criminal offence if the cheque is dishonoured (cheque bounce) for insufficiency of funds. Cheque bounce offence is punishable with imprisonment for a term up to two years or with a fine twice the amount of the cheque or both.

Is a bounced cheque a criminal Offence?

Under Section 138 of the Act, the offence of cheque bounce is a criminal offence for which the payee can initiate a criminal suit. The payee must file the complaint against cheque bounce before the Magistrate within 30 days of the expiry of 15 days of the issuance of the cheque bounce notice.

What is the punishment for cheque bounce in UAE?

The 2017 ruling means that those responsible for cheques bounced in the emirate of up to Dh50,000 are now fined Dh2,000 while those who bounce cheques whose value is between Dh50,000 and Dh100,000 pay a Dh5,000 fine. The fine for bounced cheques with a value between Dh100,000 and Dh200,000 is Dh10,000.

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How are court fees calculated?

  1. i. Does not exceed Rs.100. Rs.4. 4\%
  2. Rs.4. 4\% iii. Exceeds Rs.15000, for every 100 rupees, or part there of, in excess of.
  3. Rs.8. 8\% iv. Exceeds Rs.50000, for every 100 rupees, or part there of, in excess of.
  4. Rs.10. 10\% v. Exceeds Rs.1000000, for every 100 rupees, or part there of, in excess of.
  5. Rs.8. 8\% vi.

What is new law for cheque bounce?

The new set of rules, which took effect on August 1, 2021, states that customers who plan to issue cheques need to ensure that there are sufficient funds in the bank accounts to do so. If this minimum balance is not maintained, the cheque will bounce.