I have presented the cheque issued by a builder to the bank and same got dishonored due to insufficient fund. The memo is of the date 28 Apr 17.
Now i want to sent a notice. Once i asked one advocate he told me notice to be send within 15 days of receipt of memo. The other advocate suggested me to send notice within one month.
Please clarify as there is a contradiction, whether it is one month or 15 days.
The payee must make a demand for the payment by giving a notice in writing, to the drawer of the cheque, within 30 days of the receipt of information by him from the bank regarding the return of the cheque as unpaid.
For detailed explanation of Section 138 of Negotiable Instruments Act, read this article: http://tilakmarg.com/answers/cheque-bounce-cases-under-section-138-of-negotiable-instruments-act-explained/
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