chque returned with the remarks-account closed

KAPIL (Querist) 08 June 2011 This query is : Resolved
Sir,

I was given a cheque to some one person for Rs.1Lac as security 2 year back out of my saving account. Now the same account has been closed. Due to out of touch, i could not pass the information to same person. He presented the same cheque into bank and bank had returned the cheque with remark account closed. Now, he has suited upon me u/s 138. Please guide me.

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R.Ramachandran (Expert) 08 June 2011
First clarify, what for you issued the cheque?

M/s. Y-not legal services (Expert) 08 June 2011
Dear kapil sir.. You have to note one thing, that you have to be issued the cheque for disclose any liabilities. Otherwise you can not charged under negotiable instruments act.

sharad raghav - 9990549475 (Expert) 08 June 2011
as per sec-138,it is essential that the cheque should be issued on an account maintained by him means a live account.if a chque is on a dead account then it does not make any responsibility.but in your case it was a live account so you are responsible to pay the amount.

sharad raghav - 9990549475 (Expert) 08 June 2011
and more if you are saying that were not in touch with person then you can give him the amount within the notice period.

prabhakar singh (Expert) 09 June 2011
DEAR HE MUST HAVE SERVED YOU A NOTICE BEFORE FILING COMPLAINT,WHAT WAS YOUR REPLY TO THAT??????????????????????????///

Suresh Gupta (Expert) 11 June 2011
you are liable to pay the amount . if you would like to get rid of this case try to negotiate with the party and withdraw the case.

R.Ramachandran (Expert) 11 June 2011
Mr. Kapil has only got the privilege to put questions here; he does not have any obligation to clarify any points!

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