Cheque Bounce Cases: Court imposes fine of Rs 3,03,000 and Rs 1,02,000 on two individuals; check out full details
A cheque can bounce for several reasons like insufficient funds, incorrect date, signature mismatch, technical reasons, stale cheque, or closed account among others.
A bounced cheque is one that a bank refuses to process because the account holder does not have sufficient funds. This is sometimes referred to as a rubber cheque. In this case, the bank may charge a fee to the cheque writer or they may be imprisoned for up to two years. Recently, two individuals were fined in two different cheque-bounced cases. Take a look:
Images: Pixabay, PTI
What is the first case?

What did the court say in Naveen Acharya's case?

Naveen Acharya case: Full details

What is the second case?

What does the court say in second case?

Who complained about this?

Reasons for cheque bouncing

Check bounce is a crime in India

What happen when a cheque bounces

When a check bounces, the bank first gives a receipt to the creditor, in which the reason for the check bounce is explained. After this, the creditor can send a notice to the debtor within 30 days. If no response is received from the debtor within 15 days of the notice, the creditor can go to court. The creditor can file a complaint in the magistrate's court within a month. Even after this, if he does not get the amount from the debtor, he can file a case against him. If found guilty, imprisonment up to 2 years or fine or both can be imposed.