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Cheque Bounce cases | Important Time limits prescribed under Sec.138 of NI Act | Jeevagan Legal | About Section 138 of the Negotiable Instruments Act, 1881. Here's a summarized version: Cheque Dishonor Occurs when a bank refuses to honor a cheque due to: 1.Insufficient funds 2.Signature mismatch 3.Cheque expiration 4. Stop payment instruction Section 138: Key Provisions 1. Cheque presented within validity period 2. Written notice to drawer within 30 days of dishonor 3. Drawer fails to pay within 15 days of receiving notice Time Limit 1. 30-day period for issuing legal notice starts from the date of receiving information from the bank 2. Notice must be in writing and demand payment 3. Complaint can be filed within one month if drawer doesn't pay Penalties and Consequences 1.Imprisonment up to two years 2.Fine up to twice the cheque amount 3.Both imprisonment and fine Important Aspects 1.Intention to cheat not necessary; mere dishonor sufficient 2.Applies to individuals and companies 3.Complaint must be filed within one month of notice period expiration Recent Amendments 1.Introduced Section 143A for interim compensation (up to 20% of cheque amount) 2. Court must consider interim compensation while passing final order Please consult a legal expert or latest judgments for specific guidance. Kindly subscribe to our Channel JEEVAGAN LEGAL, like and share this video and don't forget to press the bell icon so that you will never miss any video uploaded in our Channel JEEVAGAN LEGAL. Thank you. Thanks to #filmora Website: https://www.jeevagan.com/legal/