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Cheque Bounce Cases, no Court shall impose Cost on Parties if they settle at early stages of Trial

Cheque Bounce Cases, no Court shall impose Cost on Parties if they settle at early stages of Trial

Legal Aspect of Cheque Bounce

  •  Section 138 of Negotiable Instrument Act,1881 is applicable for cases pertaining to Cheque Bounce.
  •  As per section 138, dishonor of cheque is a criminal offence.
  • There may be imprisonment up to 2 years or monetary penalty (can be double the amount of cheque) or both.
  •  Bank can also stop the cheque book facility and close the account as per RBI Guidelines.

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