19 September 2015
Respected Readers,
I want to ask that i had a cheque which get bounced by "Payment stopped by drawer" . so please guide me the best and fastest method of recovery of the amount.
amount is two lakhs
13 October 2015
send the legal notice to the party.
In nutshell whatever may be the reason or ground for dishonor of a cheque by bank whether it may be payment stopped by drawer or any other reason, offence under this section is made out and the drawee has the full right to initiate proceedings. The court may also examine whether the payment has been made by the drawer within 15 days of notice issued by the drawee after dishonor of the cheque.
CAclubindia
