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Ingredients of Section 138 of Negotiable Instruments Act in India

  • A person must have drawn a cheque to another person for payment of certain amount;
  • Cheque has been presented to bank within a period of 3 months from date it was drawn;
  • Cheque is returned by bank unpaid because of insufficient fund in the account;
  • Holder of cheque makes a demand for payment of the said amount of money by giving notice to drawer and within 30 days period it is unpaid and returned;
  • Drawer fails to make payment to the payee
Category: negotiable-act-faq

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