- BY REGISTERED AD POST
Please be advised that your
cheque dated ___ in the amount of Rs___ and made
payable to ___ has been dishonored by your bank
(specify bank name, address, and branch__). We
have learned that there are insufficient funds in
account___ to honor this check (copy of letter,
advice memo or notice received enclosed).
Accordingly, it is hereby
demanded that you immediately replace this cheque
with cash or a cheque in the amount of Rs___,
within 10 days of the receipt of this letter.
In the event we do not
receive payment in full of said funds by (specify
date), legal proceedings shall be immediately
commenced to enforce our rights, and we reserve
the right to take other legal steps, for civil or
criminal action as may be advised. Further, we also reserve
our option of initiating appropriate criminal
proceeding under sections 415, 417, 418 & 420
of the Indian Penal Code 1860, which incorporates
rigorous punitive/penal action. On your failure
to make the above payment within the said period
we will be entitled to interest at the rate of
____% per annum till the payment is received or
recovered as the case may be.
We are issuing
this letter as required under section 138 of the
Negtiable Instrument Act, 1881 for dishonour of
Hopefully this can be
avoided, and we thank you for your immediate
attention and assistance in this matter.
Finally, please be advised
that upon receipt of the above amount, we will
return the dishonored check to you.
|Very truly yours,
|Officer's or Your Name
|Name of Business