Negotiable instruments act
Yamalapalli Haribob
(Querist) 26 March 2012
This query is : Resolved
I have filed a case under section 138 of ni act basing on the bouncing cheque.My case is that the accused borrowed amount under promissory note and later issued cheque for the same for discharging of debt due under pronote.The cheque was bounced and i filed complaint.The trail was also commenced and i have marked the pronote as exhibit in NI act case.After that , i have forgotten to file suit under pronote and same was barred by limitation.MY question is whether i will win NI act case.The accused have taken a plea that as the pronote is barred by limitation,there is no legally enforceable debt and is entitled for acquittal.What i have to do to save my case.
V R SHROFF
(Expert) 26 March 2012
If cheqe was issued within 3 yrs of Pro note date, it is well within the period of Limitation, and you can win ni case./
Shonee Kapoor
(Expert) 26 March 2012
I tend to agree with Shroff Sir.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
DEFENSE ADVOCATE.-firmaction@g
(Expert) 26 March 2012
There are variety of citations of various HC s regarding loan on pro note and maintainability of cheque bounce case for its payment.
1) Mumbai and kerala HC s have termed it as illegal transaction and hence no NI 138 case., since no legal liability.
2) P& H HC has said in one case has said that even one loan is not friendly loan and far want of money lenders liecense it is illegal but in other case since no such plea was taken in lower court so in revision such plea was not allowed to be raised.
So defense has immense opportunities to come out of any cheque bounce case.
