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Negotiable Int. act & Summery Suite

(Querist) 19 May 2009 This query is : Resolved 
I had sold materials to one partnership firm & had collected Post dated Chq's from them. The cheques have bounsed for reasone exeeds arrangement & stop payement. It was my first transection. On return of chqs i have given him notice U/s 138 & intend to file suite against him. & they are denying all the transections.(the party has also defaulted with its bankers & his factory is Morgetged & bank intends to issue him notice under surfassi act)

If along with 138 i also file a summery suite to recover my dues but since his factory is morgetged i also feel need to file summery suite agains him so as to have my rights also on his factory's sale proceeds after banks payement is cleared.
Now i what to know,

Is it possible to get compensation from court of 138 as well as recovering my money by fileing summery suite in civil court? as i have learnt that 138 courts gets you only compensation or Jail to accused & not recover your dues Whereas only summery or civil suite can give you rights on defendents property to recover dues.

Kindky reply at earliest as i have very littel time
Y V Vishweshwar Rao (Expert) 20 May 2009
1 The Liability to pay the Cheque amount and no payment u/s 138 NI Act is deferent and it is with punishment and damages

2 The Suit / SCS for recovery of amount as due from a person and directing him to pay the decreatal amount.

3 Both cases u/s 138 & suit are indipendent in natuure

4 You can file suit for recovery of amount & you can file Case u/s138 of NI Act

Swami Sadashiva Brahmendra Sar (Expert) 20 May 2009
ditto


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