A circumstance of cheque bounce is essentially a term used to characterize the unsuccessful processing of an apportioned cheque because of several reasons. The bank always issues a cheque return memo with the necessary reasons for non- payment as soon as the cheque gets bounced.
In India, a check bounce is a criminal offense specified under Section-138 of the Negotiable Instruments Act, 1881. However, if there should be an occurrence of a check bounce, the abused party can document a criminal just as a common suit against the charged.
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The reason of cheque bounce
- At the point when the signature on the cheque does not coordinate.
- Where there is clear overwriting on the cheque.
- When the check is introduced after the expiry of 3 months.
- In the event that the ledger has been shut by the record holder or by the bank itself.
- When there are lacking assets in the financial balance of the cabinet.
- In the event that installment has been halted by the record holder for example the cabinet.
- At the point when the initial equilibrium in the financial balance is insufficient.
- When there is clear irregularity in the figures and the words introduced on the check.
- If there is no seal/stamp of the organization that has given the check.
- When there is irregularity in the record number in the check.
- In the event that the cabinet or the drawee has kicked the bucket.
- At the point when the cabinet has turned bankrupt.
- At the point when the cabinet has turned crazy.
- On the off chance that the check has been given contrary to the principles of trust.
- The event that there have been modifications in the cheque.
- If the bank has question in the legitimacy of the cheque.
- In case the drawee presents the check at some unacceptable part of the bank.
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