21 January 2010
My wife had taken loan from pvt bank and invested 1 lakh in Money Mantra Pvt Ltd company run by Mr Navin Sharma in Gurgaon/Dwarka. He promised to give monthly profit on the invested amount, but we received only 3 months and after that he ran away in Dec 2008. Recently we came to know that he is behind the bars by EOW. We have a bounced cheque of 1 lakh given by him. Is there any option to get back the invested money?
Similarly she had invested 1,34,000 in City Limouzines Nehru Place Delhi. Coy promised to give monthly profit on the invested amount, but we received it only 8 months and after that he ran away in Aug 2009. We have 3 bounced cheque of 7,775 each given by him. Coy had also given a share certificate duly signed by Notary of its property worth rupees 50,000 in Mumbai. Is there any option to get back the invested money?
You have not stated the dates on which the cheques bounced. In a case u/s. 138 the notice should be sent to the drawer within 30 days from the date of receipt of information from the bank about the bounce. However, if no such notice is served then you have to file a suit for recovery of money. Apart from that you can file criminal complaint against the offenders.
do you think the members/experts herein in this forum are not capable to give solutions?
we are seeing you form many days and found that you are not able to give proper answers to the queries but capable to direct the members of this forum to some other site it appears that you are ?*(&*(^*&^ of that site to which you are directing.
any way I thank you for becoming member of this forum
21 January 2010
I think matter is time barred for 138 NI Act. Now the only remedy is to file recovery suit. You can also take criminal action against the employee or directors for cheating but you have to explain the delay. It is to be noted that if recovery suit is filed, Reserve Bank Of India and state must be necessary party. Try to find out whether any liquidation proceeding is pending against this pvt ltd company. Generally such companies are allowed to do business only after depositing the requisite reserve ratio in reserve bank, that in case of winding up or insolvency of company, claim can be sought from reserve bank.