Kamal had received a post-dated cheque of Rs. 1,00,000/- from Pankaj towards debt outstanding. Before the due date of cheque, Kamal deposited the same with Bank and Bank did not honour it and returned the same to Kamal.
a. Can Kamal re-deposit the same cheque on due date?
b. If the cheque is not dishonoured due to shortage of funds in Pankaj’s bank account, can the same cheque be deposited again when Pankaj confirms availability of funds?
c. If the same cheque is dishonoured 3 times due to shortage of funds, how many times Kamal can initiate legal action against Pankaj?
d. In general, what are the reasons for dishonouring the cheque by the Bank?
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