Dishonor of Cheque
Period for payment
If payment is not made within 15 days of the receipt of the notice then the offence shall be deemed to have been committed.
The cause of action for filing complaint would arise after the completion of 15 days from the date the drawer receives the notice and fails to pay the amount within that period.
The court cannot take cognizance prior to the lapse of the period of 15 days even if there was a denial of the liability earlier, even after denial liability to pay the amount, the accused can at any time change his mind within 15 days of receipt of notice, make payment and avoid prosecution.
The offence shall be deemed to be committed only from the date when notice period expired.
The drawer cannot take the excuse that he had no reason to believe when he issued the cheque that the cheque may be dishonored on presentation for the reasons stated above.