Cheque Bounce Laws in Nepal : Legal Consequences & Remedies
Cheque bouncing is a criminal offense in Nepal, where a bank refuses to honor a cheque due to insufficient funds or other reasons. This article covers the legal framework for cheque bounce under the Negotiable Instrument Act, of 2034 and the Banking Offence and Punishment Act, of 2064. It explains the procedures for filing a case, the remedies available to the aggrieved party, and the punishments for offenders based on the amount of the cheque. Understand how to handle cheque dishonoring, the associated legal processes, and remedies for recovery of the principal amount, interest, and penalties.