Understanding Section 138 of NI Act: Cheque Dishonour Consequences

Learn about Section 138 of the NI Act and the consequences of cheque dishonour. A bounced cheque can lead to criminal charges if not addressed promptly. The payee must issue a notice within 30 days, and the drawer has 15 days to respond. Failure to repay allows the payee to file a complaint within one month, highlighting the importance of timely communication.

⚖️ AI Verdict

"Bouncing cheques: a financial faux pas that can lead to legal drama!"

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File ID: #405410Original Source: Times Of India ↗

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