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- A bounced cheque case can only be filed in a court in whose jurisdiction the bank branch of the payee lies. This has been given according to the law.
- This new form of law will help a lot in ensuring a fair trial.
- Also the Negotiable Instrument Bill 2015 has been passed by the Parliament recently.
- This Negotiable Instrument Bill 2015 allows the cheque bounce cases at a place where the cheque was presented for clearance and not the place of issue.
- The law is also mandatory for centralization of cases against the same drawer.
- Once if a cheque gets dishonored, the drawee bank gives the banker of the drawer a “cheque return memo” which clearly states the reason for non-payment of the cheque.
- •Within 30 days of the memo being sent to the drawee, a legal notice is sent which states the details of the transaction.
- After receiving this notice the defaulter will have to pay the amount within the given specified duration of 30 days.
- However if the defaulter fails to pay the sum then the drawee of the cheque can file a complaint due to the expiry of a duration of 30 days.
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