What's Cheque Bounce / Cheque Dishonour
Cheque bounce or dishonour of the check shall arise when the check that is presented to the bank for payment is returned either because of inadequate funds in the drawer's account or the signature on the check does not suit the signature of the drawer or some such excuse. Throughout India, test fail is deemed to be a civil crime and the law regulating the crime is laid down throughout section 138 of the Negotiable Instruments Act, 1881.
The Causes of Cheque Rebound
Below are some of the reasons why a test is skipped or disheartened:
Insufficient funds in the account of the individual issuing the check
Unmatching the signature on the test 3. The date of the check, i.e. the date shown on the report, has yet to arrive
Stale verification, i.e. the verification, is submitted to the bank 3 months after the check has been given
When the transfer is stopped-where the drawer tells the bank to interrupt the transfer and not to pay for the check already given
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Difference between the number of terms and number
Disfigured or Broken Check-a check may be disheartened whether it is ripped, broken or not in a decent state or has any specifics that are not easily visible.