After a cheque is bounced, a notice needs to be served to opposite party within 30 days from the date of cheque memo.
Amount needs to be claimed for which the cheque has been bounced, providing him 15 days to settle the matter
The opposite party has 15 days time from receipt of the notice to settle the said matter. No cause of action shall arises till expiry of given 15 days or if party pays within this specified period.
After completion of 15 days, if opposite party does does not settle matter or ignores notice, then holder of the cheque may file a criminal complaint before the appropriate court within 30 days of the expiry of said 15 days.
If 30 days period lapses & holder hasn’t file the case, then the delay can be ignored by the court on discretion and if sufficient cause being shown by the holder of the cheque.
You can also file for a civil suit for recovery of the cheque amount, along with the cost borne and the lost interest.
