Banking · Negotiable Instruments Act

Consider the following statements regarding Section 138 of the Negotiable Instruments Act, 1881: Statement 1: The dishonour of a cheque due to insufficiency of funds is a criminal offence punishable with imprisonment for a term up to two years, or with a fine up to twice the cheque amount, or both. Statement 2: For legal action to be maintainable, the cheque must have been issued for the discharge of a legally enforceable debt or liability, excluding gifts or illegal transactions. Statement 3: The payee must make a written demand for payment by giving a notice to the drawer within thirty days of receiving information from the bank regarding the unpaid return. Statement 4: If the drawer fails to pay within fifteen days of receiving the notice, the cause of action arises, and a complaint must be filed within one month. Which of the following evaluations regarding these statements is correct?