cheque bounced
7 Nov 2014, 17:46
SIR,
I HAVE TAKEN A SCOOTER LOAN FROM SRIRAM FINANCE . I GIVEN HIM 11 INSTALMENT CHEQUES FOR Rs. 3553/- each which is due on 7 th of every month. One cheque no. 456382 dt. 07.11.2014 is returned. According to me cheque should clear on 08.11.2014 from my bank. Now Sriram finance want 500/- as a penalty . But what is my mistake. Should I pay penalty or not? Please suggest me.
1 Reply
[quote=“rlpal1971” post=11659]SIR,
I HAVE TAKEN A SCOOTER LOAN FROM SRIRAM FINANCE . I GIVEN HIM 11 INSTALMENT CHEQUES FOR Rs. 3553/- each which is due on 7 th of every month. One cheque no. 456382 dt. 07.11.2014 is returned. According to me cheque should clear on 08.11.2014 from my bank. Now Sriram finance want 500/- as a penalty . But what is my mistake. Should I pay penalty or not? Please suggest me.[/quote]