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Description

A Section 138 N.I. Act notice is a legal instrument employed when a cheque is dishonored or the payment is not received. There are specific time limits associated with this notice. Within 30 days of the cheque return, the notice must be issued, and legal action must be initiated within 30 days after the notice is received by the accused.

Essential Terms:

Cheque Validity: 3 months
Notice Issuance: Within 30 days of cheque return
Legal Filing: Within 30 days after the notice is received by the accused