Cheque/ Best law firm in Coimbatore/ Best advocates in Coimbatore/Best law service in Coimbatore/ Best legal consultation in Coimbatore/ Best legal services in Coimbatore/ Best lawyers in Coimbatore/ Online legal consultation/New legal acts related to Cheques Cheques are a much familiar mode of transaction in India. People in business find cheques as a relevant payment mode since there is documentary proof along with it. Since they are very common to all of us, the new laws for cheque bounce in India which may affect us should be known to all. Also, know the latest Supreme Court judgment on cheque bounce cases in India for better procedural understanding. A complaint for the dishonour of a cheque under Section 138 of the Act can be filed in the court situated at a place where the bank of the payee is located. It is a punishable offense with a fine that can extend to twice the amount of the cheque or imprisonment for a term not more than two years, or both. The criteria considered an offense punishable with imprisonment of up to one year are ; → If a person gives a cheque for an amount due to another person, that is the person from whom he has taken a loan and does not pay the money within a specified. → If the cheque is returned to the bank as not being collected due to insufficient funds or some other reason when the cheque is deposited in his bank. → The Reserve Bank of India (RBI) has made it mandatory for cheques worth Rs 5 lakh or above to follow the Positive Pay System (CPPS) to be encashed. → If the rules are not followed, the banks are allowed to refuse clearance of such cheques. → The Negotiable Instrument (Amendment) Act has been enacted to address the issue of undue delay in resolving cheque bounce matters to ensure and provide relief to the payees of the dishonored cheques and to discourage unnecessary litigation. We at Saanvika Legal Associates offer various legal services such as Trust deeds, Financial law, Insurance law, and other laws including Environment, Consumer, Property, Banking, Tax, Cyber Constitutions, Labour, Civil, Criminal, Family, Property, registration, Getting nocs, and so on. Also, you can consult all aspects related to Legal notice, documentation, Legal registration, Property organization, forming companies, Family legal consultation, Civil and Criminal legal consultants, and Litigation of finance and property.