Cheques Bounced 489-F Facts That You Should Be Aware Of
Suppose you receive a cheque from someone and when you take that cheque to the bank you get to hear that the cheque has been bounced? What would you do? Or you have given a cheque to someone in return of any service or debt and your cheque gets bounced what can you face? In such cases there are a few facts that you need to know about Bounced cheques. Any dishonesty done by using cheques comes under the section 489-F. This section of Pakistan penal code 1860 deals with the criminal laws. Money frauds done using cheques can be penalised as per the rules of this section.
Few facts you need to know about cheques Bounced 489-F
- Giving a bounced cheque to someone in return of a service, favor or a debt is considered a crime and must be punished.
- If you want to report any dishonesty done using bounced cheque you have to file a report. The receiving and issuance of the bounced cheque from the accused should be proved. Moreover the bank where the cheque was presented should also be mentioned.
- If someone has given you a bounced cheque that is less than 1 million the accused can receive two different penalties. He can spend up to 3 years in jail or he will have to pay double the amount mentioned on the cheque. In addition if the dishonesty is proven in court, the criminal can even get both imprisonment and fine.
- If you receive a bounced cheque and the amount mentioned on the cheque is more than 1 million but is not more than 5 million then the accused can be arrested and will have to spend up to 5 years in jail. Besides, the accused may have to pay double the amount of money that he has mentioned on the cheque as a fine. In rare cases the court can order the accused to pay a fine as well as serve his time in jail.
- If the amount mentioned on the cheque is more than 5 million the accused will have to serve up to 7 years in prison.
- If you have received a bounced cheque of more than 10 million Rs then the accused can be sentenced to up to 10 years of prison and a fine of double the amount that he has mentioned on the cheque.