Few years back in 2015, a program was launched by the Indian government named ‘Digital India’. Sector that went under a major change was banking sector after this ‘Digital India’ program got implemented.
Every bank present in the country was shaped up again in order to be available on fingertips.Even though the program was performed on a very large scale, many people still prefer the traditional method of visiting banks and deposit their cheque than going for the online banking system. Whatever ways we like to prefer, risks like cheque bounce or online fraud will always be linked with money.
What is meant by cheque and cheque bounce?
Our future generation might know about things like online money fraud. But what about us, how many of you are familiar with cheque bounce? Or what are the things you’re supposed to do when your cheque goes bounced?
Some of the points are given that will help you to with the topic cheque bounce. But first, let’s make sure what cheque really is.
Cheque is a document which gives order to the bank to pay an assured sum of money to the person whose name is written on cheque that has been issued by another person. There are few points that should be kept in mind while making use of a cheque.
- Cheque needs to be in a written form
- Banker also has to be specified
- Signature of the drawer should be present on the cheque, and it also needs to be payable as a demand
Let’s see how cheque bounces
When your bank is not able to make a deposit than that cheque is said to be bounced or dishonored. There are many reasons present for this type of issue.
The list presents below are reasons why your cheque is getting bounced.
- Mismatch of the signature
- Insufficient funds in payer’s account
- When your cheque is crossed
- Mismatch of your account number
- Customer is dead
- Cheque authenticity is not clear
Why do you need a lawyer for the bounced cheque?
Cheque bounce is said to be a crime according to the Indian law. There are some following tips that will help you in finding lawyers for Bounced cheque in Hyderabad and some important measures that one can take according to Negotiable Instruments Act.
- After your cheque is bounced you are required to draft a demand notice within thirty days.
- You need to draft a complaint letter if there is no payment is made after demand letter’s delivery date. After that you are required to go through some court proceedings.
It is very important that your complaint letter appears before the magistrate and also it needs to be examined down under oath.
If you are also having issues related to cheque bounce by your debtor, or if anyone has issued notice against you for cheque bounce than you need to find best cheque bounce attorney in Hyderabad for this case.