There can be punishment for check bounce, how much time is available to pay the payment, know its rules

You must have heard about check bounce. Many times it happens when someone gives a check to the bank for payment, then it gets rejected. This is called check bounce. There can be many reasons for this. In such cases, not having sufficient amount in most of the accounts is a big reason. Even if there is a difference in the sign on the check, it gets bounced. The payer of the check is called the debtor and the person taking the check and depositing it for payment is called a creditor.

If the check bounces, the amount will be deducted from the account as a penalty. You have to inform the debtor on check bounce. You will have to pay that person in a month. If the payment is not made within a month, then a legal notice can be sent to him. Even after this, if he does not give any answer for 15 days, then a case can be filed against him under section 138 of the Negotiable Instrument Act 1881. 
 
Bounce of check can be punished for two years
. Bounce of check is a punishable offense and for this a case is registered under section 138. It is punishable with fine or imprisonment for two years or with both. In such cases, you have to pay the amount along with 2 years imprisonment and interest. The case will be registered at your place of residence. 

The check should be cashed in three months, in
case of bounce of the check, banks give you a receipt. In this logistics, the reason for the bounce of the check is given. You should keep in mind that the validity of any check remains for three months. After that his time limit expires. Therefore, it should be cashed within 3 months of receiving the check.