Cheque dishonour, a frustrating situation for anyone, signifies a returned cheque due to insufficient funds or other technical issues. Understanding the meaning, implications, and legal recourse available when a “cheque dishonoured meaning in Hindi” is crucial, especially in India’s financial landscape. This guide provides a comprehensive understanding of cheque dishonour, its meaning in Hindi, the legal implications, and practical steps to take if you encounter this issue.
What Does “Cheque Dishonoured” Mean in Hindi?
“Cheque dishonoured” translates to “चेक वापसी” (chek vapasi) in Hindi. It essentially means the bank has refused to honour or pay the amount mentioned on the cheque. This refusal can stem from various reasons, the most common being insufficient funds in the drawer’s account.
Common Reasons for Cheque Dishonour in India
Several factors can lead to cheque dishonour, ranging from technical errors to more severe issues like fraud. Some frequent reasons include:
- Insufficient Funds: The most prevalent reason, occurring when the drawer’s account lacks the necessary funds to cover the cheque amount.
- Signature Mismatch: A discrepancy between the signature on the cheque and the bank’s records.
- Overwriting or Alterations: Any unauthorized corrections or changes made on the cheque can lead to its rejection.
- Stale Cheque: A cheque presented after its validity period (typically three months from the date of issue).
- Account Closed: The drawer’s account has been closed before the cheque is presented.
- Stop Payment Instruction: The drawer has instructed the bank to stop payment on the specific cheque.
Legal Recourse for a Dishonoured Cheque
The Negotiable Instruments Act, 1881, provides legal remedies for cheque dishonour in India. The payee has the right to initiate legal proceedings against the drawer.
Legal Action for a Dishonoured Cheque
What to Do When a Cheque Bounces?
- Contact the Drawer: The first step is to inform the drawer about the dishonoured cheque and seek clarification.
- Send a Legal Notice: If the drawer fails to make the payment within 15 days of receiving the notice of dishonour, a legal notice must be sent.
- File a Case: If the drawer still doesn’t comply within 30 days of the legal notice, a case can be filed under Section 138 of the Negotiable Instruments Act.
Preventing Cheque Dishonour
- Verify Funds: Ensure sufficient balance in your account before issuing a cheque.
- Accurate Details: Double-check the details like date, amount, and payee’s name before issuing the cheque.
- Proper Signature: Sign the cheque legibly and consistently as per your bank records.
- Valid Date: Ensure the cheque is presented within its validity period.
Conclusion
Understanding “cheque dishonoured meaning in Hindi” (चेक वापसी) is essential for navigating financial transactions in India. Being aware of the reasons for dishonour, the legal implications, and the steps to take can save you from significant hassle and financial losses.
FAQ
- What is the validity of a cheque in India? A cheque is typically valid for three months from the date of issue.
- Can I resubmit a dishonoured cheque? Yes, a dishonoured cheque can be resubmitted within its validity period.
- What are the penalties for cheque bouncing in India? Penalties can include imprisonment up to two years and/or a fine, depending on the amount of the cheque.
- Is it a criminal offence to issue a cheque without sufficient funds? Yes, issuing a cheque knowing there are insufficient funds is a criminal offence under Section 138 of the Negotiable Instruments Act.
- What is the meaning of cheque return memo? A cheque return memo is a document issued by the bank stating the reason for the cheque dishonour.
- How to write a legal notice for a dishonoured cheque? It is advisable to consult a lawyer to draft a legally sound notice.
- What is the time limit for filing a case for a bounced cheque? A case must be filed within 30 days of the legal notice.
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