Finance
Mr. BillionhairBounced Cheque Catastrophe: Pay Up or Face Jail, Folks!
Listen up, folks! A bounced cheque? It’s not just a little mistake—it’s a big, beautiful disaster! Under Section 138 of the Negotiable Instruments Act, you could be looking at jail time! But don’t worry, most people fix it within 15 days. Pay your dues, or you’re in for a wild ride, folks! Strong evidence? You’re done! Just pay up!
few days ago | Amit Kumar
Quick rundown
1.Bounced cheques can lead to criminal prosecution in India.
2.Imprisonment is rare, but repeat defaults face stricter scrutiny.
3.Courts favor compensation over jail time for cheque bounce cases.
4.Ignoring a statutory notice can escalate legal and financial troubles.
5.Prompt payment within 15 days can prevent prolonged legal issues.
