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Home/ All Updates/ ADVOCATE FOR CHEQUE BOUNC...
2023-10-15T14:18:06
Advocate Satish S Rao
ADVOCATE FOR CHEQUE BOUNCES CASES AT AFFORDABLE AND REASONABLE RATES IN ANDHERI EAST   WHAT IS CHEQUE BOUNCE: :  when a cheque is presented in the bank, it is cashed and the amount is deposited in the account of the stipulated person. But under certain circumstances, when the cheque gets returned unpaid, it is said to be dishonored or bounced. This could happen due to a variety of reasons such as insufficiency of funds, signature mismatch etc. When a cheque bounces, the bank issues a ‘cheque return memo’ with the reasons for non-payment mentioned alongside. The person who writes the cheque is known as the ‘drawer’ and the individual in whose favor the cheque is written is called the ‘drawee’.Cheques are mostly preferred due to the security it offers as compared to other forms of money transfer such as NEFT (National Electronics Funds Transfer). A crossed cheque for instance cannot be cashed by any person other than the payee and it will be deposited in the payee’s account only. WHAT ARE THE REASONS FOR CHEQUE BOUNCE? ·         Insufficient balance in the account of the person who is writing the cheque.  ·         Signature of the drawer (person who writes the cheque) is unclear or erased or incomplete or fraudulent. ·         The account number is written on the cheque if not discernible with the naked eye. ·         Overwriting has been done on the cheque. ·         If the account from which the drawer wants to take out money does not exist.  WHAT IS TH APPLICABLE LAW FOR CHEQUE BOUNCE? Sections 138 to 142 of the Negotiable Instruments Act is applicable in a Cheque Bounce case. These sections are penal provisions that are there to make sure that the obligations which the drawer of the cheque has towards the payee are honored to the fullest extent. The ingredients that are required to be fulfilled under section 138 are-  ·         A person must have written a cheque in favour of another person in furtherance of money that the person owes to another. ·         The payee (the person in whose favour the cheque is drawn) has to approach the bank for the payment via the cheque within three months. ·         The bank returns the cheque without any payment because of any of the reasons mentioned above. ·         The payee then has to send a legal notice to the drawer demanding payment of the money. ·         The drawer does not pay the required sum of money   PROCEDURE FOLLOWED IN SECTION  138 COMPLIANTS FILED IN MAGISTRATES’S COURTS.? 1.     If the drawer does not pay the money within 15 days after the legal notice has been sent to him, the payee can file a criminal complaint against the drawer of the cheque in the magistrate court of competent jurisdiction under section 138.  2.     If the court is satisfied with the claims made by the payee, then the court calls upon the drawer by issuing a summons. 3.     If the drawer refuses to appear in court, then the court can issue a bailable   warrant against him. 4.     If the accused does not turn up in court even after the issuance of a bailable warrant, the court can issue a non-bailable warrant to secure the presence of the drawer.  5.     If the accused pleads guilty, the court sentences him and if the accused pleads not guilty, the accused is given a copy of the complaint made out against him.   6.     Both the parties are then cross-examined and they can produce their evidence.  7.     The court passes the judgment which is subject to appeal by either party.    WHAT ARE  THE DOCUMENTS REQUIRED TO FILE COMPLAINT OF CHEQUE BOUNCE : ·         Unpaid cheque slip returned by the bank of the drawee. ·         The legal notice which was sent to the drawer. ·         The response to that notice ·         Invoice ·         The original bounced cheque and its copy. WHAT IS THE PUNISHMENT FOR CHEQUE BOUNCE:   Imprisonment which can extend to 1 year. Recovery of cheque amount or double. Both   CAN CIVIL SUIT BE FILED FOR CHEQUE? A civil suit can be filed by the complainant against the drawer under order 37 of CPC. In such cases, a summary suit under Order 37 of CPC can be filed in a civil court. Such summary suits are only filed in cases of recovery of money etc. a basic difference between a criminal complaint and a civil complaint of cheque bounce is that in the criminal complaint, the drawee wants to recover the amount and punish the drawer for the non-payment but in the civil complaint, the focus is solely on recovering the amount.  WHAT IS THE VICARIOUS LIBILITY OF DIRECTORS OF COMPANIES WHEN A CHEQUE BOUNCES? The honoring of cheques does not only depend on materialistic factors such as signatures and account holder’s name and insufficient balance but also depends on the credibility of the drawers and their integrity and honesty. Bouncing a cheque can cause a huge amount of loss which is financial and also causes a lot of time wastage of the payee. A company is an artificial legal entity that runs through its owners and directors. When a cheque is drawn by a company bounce, the primary onus doesn’t only fall on the company but also on its directors. Section 141 of the Negotiable Instruments Act talks about offences of the company, which also makes the directors vicariously liable.  Some corporate lawyers work in-house, and most large corporations have their own in-house legal departments. In-house corporate lawyers generally handle a wide variety of issues.       WHAT ARE THE RECENT AMENDMENTS TO THE  NEGOTIABLE INSTRUMENTS ACT: The drawer of the cheque will pay interim compensation to the payee to the tune of 20% of the amount of the cheque.  The interim compensation has to be paid within 60 days from the date of the order passed by the court.  If the court finds out that the drawer of the cheque was not responsible for anything and is acquitted, then the drawee has to pay back the compensation with interest.   HOW MUCH DOES A CORPORATE LAWYER IN MUMBAI COST?   The cost for a Corporate Lawyer in Mumbai differs contingent upon various components, including the case type, attorney's understanding, experience, track record, and area of practice.     WHY US :   We have the requisite experience and expertise when it comes to Cheque Bounce cases. As an experienced lawyer we can help you navigate the legal landscape, ensuring that you are making informed decisions that are in your best interest. We can also help you avoid potential legal problems by reviewing contracts, advising on compliance with laws and regulations, and handling legal disputes.    
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2024-10-28T04:25:37
Advocate Satish S Rao
WHAT IS A WILL?A will or testament is a legal document by which a person, the testator, expresses their wishes as to how their property is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution.As per Section 2(h) of Indian Succession Act, 1925 provides that Will means the legal declaration of the intention of a person with respect to his property, which he desires to take effect after his death Will has been defined in Corpus Juris Secundum as A ‘Will’ is the legal declaration of a man’s intention, which he wills to be performed after his death, or an instrument by which a person makes a disposition of his property to take effect after his death.WHY DO YOU NEED A WILL?Four reasons why you need a will: A will makes it much easier for your family or friends to sort everything out when you die – without a will the process can be more time consuming and stressful. If you don’t write a will, everything you own will be shared out in a standard way defined by the law – which isn’t always the way you might want.  A will can help reduce the amount of Tax that might be payable on the value of the property and money you leave behind.  Writing a will is especially important if you have children or other family, who depend on you financially, or if you want to leave something to people outside your immediate family.
WHAT IS A WILL? A will or testament is a legal document by which a person, the testator, expresses their wishes as to how their property is to be distributed at death, and names one or more persons, the executo...
2024-10-28T04:25:37 read more
2024-10-28T04:21:28
Advocate Satish S Rao
IS PROBATE MANDATORY :A probate is mandatory only if the Will or codicil has been made in any of the three Presidency towns i.e., Kolkata, and the municipal limits of metro cities of Chennai and Mumbai, or, if the immovable property is situated therein. Else, a probate is optional. However, there is no restriction in law to get a probate of a Will, even if it is not mandatory.THE PROCESS TO GET PROBATE OF A WILL :1. As a first step, the administrator or executor appointed by the testator under the Will must approach the court with the application to receive the probate. While it is a common practice to appoint friends and family as the executors of the Will, as people may naturally trust them more, but there have been an increase in professional executorship, where a trained professional may take care of the administrative difficulties of getting a probate. However, in the absence of the executor being named in the Will, the legatees or the beneficiaries under the Will could also seek probate of the Will.2. In the application for a probate, the executors need to establish the following:a. Facts of death of the testator with proof, which is generally done with the help of a death certificate issued by the local authorities. b. The Will produced before the court is the last Will of the testator. c. The submitted Will was validly executed by the testator. 3. Once the application is submitted to the court, the court issues the notice to the next of kin to file their consent for the grant of probate, and the public at large to file objections to the grant of probate in favour of the executor named in the Will. 4. If objections are filed – called as “caveat application” – against the validity of the Will and grant of probate, both parties have to lead evidence for and against the grant of probate, and the case is decided accordingly. 5. There could also arise grounds challenging the validity of Will or grant of probate. The common grounds for challenging a Will are fraud, coercion, undue influence, suspicious nature, lack of due execution, lack of testamentary intention, lack of testamentary capacity, lack of knowledge, and forgery. 6. Since the probate is granted by a high court, one has to pay a court fee, based on the value of the assets, which are subject matter of the petition. The court fee varies from state to state. In the state of Maharashtra, depending on the slabs, it is subject to a maximum of Rs. 75, 000 while in Chennai, the maximum slab is Rs. 25, 000. If it is found that granting the probate would do justice to the intention of the testator, then the probate is granted to the executor under the seal of the competent court. This ensures the due execution of the Will, which to a great extent reduces the discrepancies and suspicions associated with a Will. A probate cannot be granted to any person who is a minor or is of unsound mind, nor to any association of individuals.FEES / COST OF PROBATE OF A WILL?:For probate of will in Maharashtra you have to pay 5 percent of the assets which are claimed in WILL, as court fees for probate of will in Mumbai. Probate fees in Mumbai and rest of Maharashtra is same. However, the said fees are also subject to a ceiling of Rs. 75, 000/-.legal charges will be Rs50, 000 to Rs1. 50 lakhs depending upon the advocate and complications involved in your probate work.WHAT IS THE TIME LIMIT FOR PROBATE OF A WILL?Typically, there is no time limit to probate a will. However, in one case, the SC has stated that 30 years from knowledge of existence will. A probate for a will is required to be obtained only under circumstances ... limits, in so far as they relate to immovable property situate within those limits.
IS PROBATE MANDATORY : A probate is mandatory only if the Will or codicil has been made in any of the three Presidency towns i.e., Kolkata, and the municipal limits of metro cities of Chennai and Mumbai, or, if...
2024-10-28T04:21:28 read more
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