Tag: Cheque

Accused Sentenced To Four Months Imprisonment In Cheque Bounce Case

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SRINAGAR: A court in Uri has sentenced an accused to four months of simple imprisonment after convicting him in a cheque bounce case.
A case was filed by Mohammad Dawood Lone, son of Abdul Karim Lone, resident of Ramgie Uri, against Abdul Rasheed Bhat, son of Anaytullah Bhat, a resident of Ihtishampora Boniyar under Section 138 of Negotiable Instruments Act before Sub-judge Uri.
In a 22-page long order, of which the gist is produced here, the learned judge, Altaf Hussain Khan, observed that the accused is sentenced to simple imprisonment for a period of four months and a fine of Rs 12,00,000 (Rupees Twelve Lakhs only) since the accused has paid an amount of Rs 1,94,0000 (Rs One Lakh and Ninety-Four Thousand Rupees) during the pendency of the proceedings in terms of the order passed by this court under section 143-A of N.I act, and the same is set off from the fine imposed. The rest of the fine amount of Rs 10,06,000 (Rupees Ten Lakhs and Six Thousand) shall be paid by the accused to the complainant as compensation within the period of 30 days from the date of this judgment.
“With these observations, the accused is convicted of the offense U/S 138 of N.I Act. However, keeping in view the object of Negotiable Instrument Act, the financial gains which the cheque amount in question could have fetched had the payment of the amount mentioned in the cheques been made to the complainant by the accused on the due date, as the complaint in hand has been filed on 21/02/2022. The trial of the case has reached a conclusion within a span of one year and two months. Furthermore, the accused is apparently of old age and is suffering from illness. His conduct during the trial has also remained satisfactory. He has also paid the interim compensation of Rs 1,94,000 to the complainant pursuant to the order passed by this court on 06/05/2022, in the application for interim relief submitted under section 143-A of Negotiable Instruments Act and other facts and circumstances. The accused is sentenced to simple imprisonment for the period of four months and a fine of Rs 12,00,000 (Rupees Twelve Lakhs only) since the accused has paid an amount of Rs 1,94,0000 (Rs One Lakh and Ninety-Four Thousand Rupees) during the pendency of the proceedings in terms of the order passed by this court under section 143-A of N.I act, and the same is set off from the fine imposed. The rest of the fine amount of Rs 10,06,000 (Rupees Ten Lakhs and Six Thousand) shall be paid by the accused to the complainant as compensation within the period of 30 days from the date of this judgment,” the order reads. (GNS)

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( With inputs from : kashmirlife.net )

May 7, 2023
Accused Sentenced to 4 Months Simple Imprisonment As Court in Uri Convicts Him in Cheque Bounce Case

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Zaffer Iqbal
Uri, May 7 (GNS): A Court in Uri has sentenced an accused to four months of simple imprisonment after convicting him in a Cheque Bounce Case.
As learnt by GNS, a case was filed by one Mohammad Dawood Lone son of Abdul Karim Lone, resident of Ramgie Uri against one Abdul Rasheed Bhat, son of Anaytullah Bhat, a resident of Ihtishampora Boniyar under Section 138 of Negotiable Instruments Act before Sub-judge Uri.
In a 22-page long order, gist of which is produced here, the learned judge Altaf Hussain Khan observed that the accused is sentenced to simple imprisonment for the period of four months and fine of Rs 12,00000 (Rupees Twelve Lakhs only) since the accused has paid an amount of Ruppes 1,94,0000 (Rs one lakh and Ninety Four thousand Rupees) during the pendency of the proceedings in terms of order passed by this court under section 143-A of N.I act and the same is set off from the fine imposed. Rest Fine amount of Rs 10,06000 (Ruppes Ten lakh and six thousand) shall be paid by the accused to the complainant as compensation within the period of 30 from the date of this judgment.
“With these observations, accused is convicted of the offence U/S 138 of N.I.Act. However, keeping in view the object of Negotiable Instrument Act, Financial gains which cheque amount in question could have fetched had the payment of amount mentioned in the cheques been made to the complainant by the accused on due date as the complaint in hand has been filed on 212022. Trail of the case 1 too has reached to conclusion within a span of one year and two months. Further accused is apperently old age and is suffering illness. His conduct during trail too has remained satisfactory. He has also paid the interim compensation of Rs 1,94,000 to the complainant in pursuance to order passed by this court on 6-5-2022 in the application for interim relief submitted under section 143-A of Negotiable instruments act and other facts and the circumstances. The accused is sentenced to simple imprisonment for the period of four months and fine of Rs 12,00000 (Rupees Twelve Lakhs only ) since the accused has paid an amount of Ruppes 1,94,0000 (Rs one lakh and Ninety Four thousand Rupees ) during the pendency of the proceedings in terms of order passed by this court under section 143-A of N.I act same is set off from the fine imposed. Rest Fine amount of Rs 10,06000 (Ruppes Ten lakh and six thousand) shall be paid by the accused to the complainant as compensation within the period of 30 from the date of this judgment”, the order, as per GNS, reads. (GNS)
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#Accused #Sentenced #Months #Simple #Imprisonment #Court #Uri #Convicts #Cheque #Bounce #Case
( With inputs from : thegnskashmir.com )

May 7, 2023
Man Sentenced To Six Months Jail, Rs 8 Lakh Fine In cheque Bounce Case

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SRINAGAR: A local court in the Sopore area of north Kashmir’s Baramulla district sentenced a man to six months of simple imprisonment and a fine of Rs eight Lakh in a cheque bounce case.
An official said that Judicial Magistrate Ist Class Sopore sentenced the man to six months simple imprisonment in a cheque bounce case and also imposed a penalty of Rs 800000.
The accused has been identified as Ghulam Mohiddin War son of Hayaat War Of Warpora Sopore
He was sentenced to six months jail after he was found guilty of the commission of an offense under section 138 of the Negotiable Instrument Act.
“A fine of Rs 8,00,000 which is double the cheque amount was also imposed on him,” the official said—(KS)

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#Man #Sentenced #Months #Jail #Lakh #Fine #cheque #Bounce #Case
( With inputs from : kashmirlife.net )

May 6, 2023
Man gets 2-year jail in cheque bounce case

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Srinagar, Apr 08: A local court on Saturday sentenced a man to two years imprisonment in a cheque ‌bounce case and imposed a penalty of Rs 10 lakh on him.
The Court of Special Magistrate (PT&E) sentenced the accused, who was identified as Altaf Hussain Rather, to two years simple imprisonment after finding him guilty for the commission of offense under section 138 of the Negotiable Instrument Act.
“A fine of Rs 1000000 (Rupees ten lacs) which is double the cheque amount is also imposed upon the accused. The fine of Rs 1000000(Rupees ten lacs) so imposed shall be paid as compensation to the complainant,” the judge Fariqa Nazir said, in an order, a copy of which is in possession of news agency—Kashmir News Observer (KNO)—(KNO)
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#Man #2year #jail #cheque #bounce #case
( With inputs from : roshankashmir.net )

April 9, 2023
Man Sentenced To Two-Year Jail In Cheque Bounce Case

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SRINAGAR: A local court on Saturday sentenced a man to two years imprisonment in a cheque bounce case and imposed a penalty of Rs 10 lakh on him.
The Court of Special Magistrate (PT&E) sentenced the accused, who was identified as Altaf Hussain Rather, to two years simple imprisonment after finding him guilty for the commission of offense under section 138 of the Negotiable Instrument Act.
“A fine of Rs 1000000 (Rupees ten lacs) which is double the cheque amount is also imposed upon the accused. The fine of Rs 1000000(Rupees ten lacs) so imposed shall be paid as compensation to the complainant,” the judge Fariqa Nazir said, in an order. (KNO)

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#Man #Sentenced #TwoYear #Jail #Cheque #Bounce #Case
( With inputs from : kashmirlife.net )

April 8, 2023
Cheque Bounce New Rule: This small mistake will cause big loss

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Cheque Bounce Rule: If you also pay through cheque, then it is very important to take care of many things. Otherwise, if the Cheque bounces, you may have to go to jail along with the fine. Cheque bounce is considered a legal offense in the language of the court. In this, a provision has been made for punishment under the Negotiable Instruments Act of 1881.
When does a Cheque bounce?
When a bank rejects a Cheque for some reason and the payment is not made, it is called Cheque bounce. The reason for this happening is mostly due to lack of balance in the account. Apart from this, even if there is a difference in the person’s signature, the bank rejects the cheque.
Reasons for Cheque bounce

– Payee’s bank account does not have sufficient funds
– Signature does not match
– Account number does not match
– Cheque issued with date
– Amount does not match in words and figures
– Mutilated Cheque
– overdraft limit
What happens after a Cheque bounces?
When the Cheque bounces, the person giving the Cheque has to inform about it. After which he has to pay you within 1 month. In case of not doing so, a legal notice is sent to the person. Even after that, if no reply is given for 15 days, then a case is registered against him under Section 138 of Negotiable Instrument Act 1881. Under the Negotiable Instruments Act, 1881, the person can be prosecuted and the Cheque drawer can be punished for up to two years.
How long is the Cheque period?
Cheques, bank drafts are currently valid for 3 months from their issue.
Why are they valid only for 3 months?
It is common banking practice to dishonor a Cheque older than 3 months. This practice is for the protection of the person who has written the cheque, as there is a possibility that the payment may have been made through some other means or the Cheque may have been lost or stolen.
Keep these things in mind before issuing a cheque-
Whenever you give a Cheque to someone, make sure that you have money in your account.
Apart from this, the person taking the v should get it cashed within three months.
Whenever you pay someone with a cheque, avoid giving more space between words and figures regarding the name and amount.
Whenever you sign a bank cheque, remember that you have to sign in the same way as it is already recorded in the records of the concerned bank branch.
Whenever you pay someone through a bank cheque, make sure to note down the details of the Cheque like Cheque number, account name, amount and date.
Always issue account payee cheques.
The signature on the Cheque should be registered with the bank.
– Fill in the information on the check carefully and correctly.
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#Cheque #Bounce #Rule #small #mistake #big #loss
( With inputs from : kashmirpublication.in )

March 24, 2023
Cheque transaction Rules Change! Big news! This bank has

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Punjab National Bank: If your account is also in Punjab National Bank (PNB), then this news is for you. If you pay by cheque, then you will not be cheated. Yes, PNB has implemented a new system of cheque payment to save crores of customers of the bank from fraud.
Now Positive Pay System (PPS) has been made mandatory for customers to make cheque payments of Rs 5 lakh or more. This change will come into effect from April 5 next month.
It is necessary to give details of cheque in PPS
Public sector bank has taken this step to save customers from any fake payment through cheque. In a statement from PNB, it was said that this decision will come into effect from April 5, 2023. Earlier, it was necessary to give the details of the cheque in the Positive Pay System (PPS) for payment of cheque of Rs 10 lakh and above. The statement said that PPS is a system developed by the National Payments Corporation of India (NPCI). Under this, customers have to confirm the necessary details while issuing chequs of a certain amount.

Additional security to avoid risk
These details include account number, cheque number, cheque alpha code, date of issue, amount and beneficiary name. This provides additional security to avoid any risk while making payment of large amount of cheques. The bank said that customers can avail this facility by giving cheque details through branch office, online banking, mobile banking or SMS banking.
Availing the facility at the option of the account holder
As per RBI guidelines, PNB had earlier introduced PPS for cheque of Rs 50,000 and above presented in CTS clearing from January 1, 2021. It was also said on behalf of RBI that it is at the discretion of the account holder to take advantage of this facility. Banks may consider making it mandatory for cheque of Rs 5 lakh and above.
What is Positive Pay System
PPS is a system developed by the National Payments Corporation of India (NPCI). Under this, customers are required to reconfirm necessary details such as account number, cheque number, cheque alpha code, date of issue, amount and beneficiary name etc. while issuing a cheque of a certain amount. In this, the customer has to provide all these details to the bank.
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#Cheque #transaction #Rules #Change #Big #news #bank
( With inputs from : kashmirpublication.in )

March 4, 2023
Cheque Bounce Rules: There can be a big change in the rules

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Cheque Bounce New Rules: If the government implements new rules following the recommendations made by the expert committee, then there will be a reduction in Cheque bounce cases.

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New Delhi: Cheque Bounce New Rules: When you open a bank account, you are given many facilities. In which apart from Debit Card, Credit Card, Cheque Book, many other facilities are included. If you make payment through Cheque book then this is important news for you. Transaction of money through Cheque book has become very common. This is the reason why the cases of Cheque bounce are also increasing continuously. In such a situation, the Central Government can make major changes in the rules to reduce the increasing cases of Cheque bounce.
These suggestions were received regarding the change in the rules of Cheque bounce
According to media reports, the government may soon implement the new Cheque bounce rules. Regarding this, the government has also formed an expert committee of the Supreme Court. This committee has made several recommendations to the government. Apart from this, a high-level meeting was also organized by the Finance Ministry recently. During this, many suggestions have been received regarding the change in the Cheque bounce rules. After considering these suggestions, the government can implement it as a new Cheque bounce rule.

Finance Ministry is considering these steps
Under the rule of Cheque bounce, the Finance Ministry can take strict steps like deducting money from other bank accounts if there is not enough balance in the account of the Cheque issuing customers. Now you are making payment through cheque book, sufficient amount should be available in your bank account. If this does not happen then strict legal action can be taken against you (Cheque Bounce penalty). Along with this, many other steps are being considered including banning the opening of new bank accounts of the Cheque issuer in such cases.
Let us tell you that if the government accepts the recommendations made by the expert committee, then there can be many major changes in the cheque bounce rules. So let us tell you about it…
In case of cheque bounce, payment will be done from another bank account.
The biggest change that can be seen in the new rules is that now if you issue a cheque for payment and there is no money in your bank account, then money will be deducted from your other bank account for payment. . Till now it is happening that even if there is no money in the bank account, if you pay through cheque, then your cheque bounces directly. Now this rule will reduce the cheque bounce case.
There will also be a ban on opening new bank accounts
On the other hand, if your cheque bounces after the implementation of the new rule, then in such a case you will not be able to open a new bank account. Cheque bounce can also be seen as loan default. This is the reason why you will not be able to open your account in any other bank. Not only this, it will also affect your CIBIL score and in future, if you want to take a bank loan, then you may have to face a lot of problems.
Will there be any change in cheque bounce penalty?
However, there is no possibility of change in the new rules regarding cheque bounce penalty. At present, there is also a provision of punishment in the rules of cheque bounce. Under this, in case of cheque bounce, if a case is registered against the issuer of the cheque, a fine (Cheque Bounce Charges) can be imposed on him. In such a situation, the issuer of the cheque may have to pay twice the amount of the cheque payment to the other party. Along with this, there can also be a jail sentence of 2 years.
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( With inputs from : kashmirpublication.in )

February 16, 2023
‘BB16’ Finale: MC Stan takes home trophy, Rs 31L cheque

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Mumbai: Rapper MC Stan was declared winner of ‘Bigg Boss’ season 16, in a star-studded grand finale that started on Sunday night and went into the early hours of Monday.
MC Stan, whose real name is Altaf Shaikh, came into the reality show with a huge fan base, and he took home the Bigg Boss trophy along with a whopping over Rs 31 lakh.
Over 130 days of battle inside the house, Stan to maintain his position all along as a strong contender for the trophy. He defeated Shiv Thakare, Archana Gautam and Shalin Bhanot in the grand finale.
Stan is an Indian rapper, lyricist, music producer and composer. He became popular after the release of his song ‘Khuja Mat’ in 2019. He hails from Pune, Maharashtra. He was just 12 when he began singing qawwali.
He was introduced to rap music by his brother. Before getting into rapping, Stan was into B-boying and beatboxing.
His one liners such as ‘Shemdi’, ‘appreciate you’, ‘Haq se’, ‘feel you bro’ and ‘Hindi matra bhasha’ and ‘Raavas’ have caught attention of all across the country.
Stan, who proudly calls himself as ‘Basti Ka Hasthi’, is one of the most popular faces in ‘Bigg Boss 16’ as he enjoys a fan following of 7.7 million on Instagram.
In the Top 3 segment, Priyanka Choudhary was competing against Shiv Thakare and MC Stan. However, she was shown the exit door after making it in the final three.

Salman praised Priyanka by the way she took the news. She competed with 14 people and came out with a smile and did not break down even though she came so close to the trophy.
He said for him, Priyanka is the winner because of the way she took the news.
After coming out of the show, Priyanka said: “Nahi sahi jitna mila utne main khush. Itna mil gaya bahut hai. First I thought I will leave in the first week, then I thought I will win the trophy…. I believed in myself, I thought I can win but I was practical too.”
The top five contestants were also seen performing before the winner was feted with the trophy.
Shalin was seen performing on the song ‘Bijli’ from Vicky Kaushal’s ‘Govinda Naam Mera’, Archana danced on ‘Hawa Hawaii’, ‘Anarkali Disco Chali’, Priyanka performed with Ankit on a romantic track and was later seen having a dance-off with her rival Shiv on ‘Dhan Te Nan 2.0’ from the film ‘Kuttey’.
The Bigg Boss 16 grand finale also saw a motley of personalities such as Sunny Deol, Ameesha Patel, Junooniyat cast, including Gautam Vig, Ankit Gupta and Neha Rana, Karan Kundra, Gashmeer Mahajani and Reem Sameer Shaikh from ‘Tere Ishq Mein Ghayal’.
Also present at the finale were eliminated housemates, including names such as Gori Nagori, Sreejita De, Soundarya Sharma, Tina Datta, Manya Singh, Abdu Rozik, Sajid Khan, Nimrit Kaur Ahluwalia, Sumbul Toqeer, Gautam and Ankit.
Friends and family of the top five housemates attended the grand finale, too.
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( With inputs from www.siasat.com )

February 13, 2023
Entrepreneur arrested after caught adding zeroes to Shark’s Cheque at Shark Tank India Show

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In the latest episode of the season 2 of Shark Tank India the Shark Anupam Mittal is seen going after an entrepreneur who tried to increase its company’s valuation by 10X simply by adding zero in the cheque given by Shark Anupam Mittal.

While the episode is yet to be aired the ad of the episode show an entrepreneur presenting his idea to the sharks and cracking a deal of 30 lakhs for 10% equity from Anupam Mittal. However, not happy with the valuation, the entrepreneur secretly added zero in the cheque and was caught doing show by the show host.

The same was reported to Anupam Mittal, who then not only reprimanded the entrepreneur but also cancelled the deal and reported the case to the police. Speaking to The Fauxy, Anupam Mittal said “this could have landed me in trouble since I don’t have 3 crore in my account and the cheque would have bounced“.

To avoid such cases, Shark Tank India will now have psychometric test for all the pitchers.

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#Entrepreneur #arrested #caught #adding #zeroes #Sharks #Cheque #Shark #Tank #India #Show
[ Disclaimer: With inputs from The Fauxy, an entertainment portal. The content is purely for entertainment purpose and readers are advised not to confuse the articles as genuine and true, these Articles are Fictitious meant only for entertainment purposes. ]

January 19, 2023