Compliant under section 138 and 142 of ni act

Sachithanantham D (Querist) 05 August 2022 This query is : Resolved
HI SIR
PRONOTE RECIVED -- EXPIRED
LOAN GIVEN IS GURANTEED BY HYPOTHICATION OF IMMOVABLE ASSETS MORE THAN THE
LOAN VALUE
ALSO SUPPOTED BY CHEQUE
CHEQUE WAS PRESENTED AND DISHONURED
CAN WE FILE COMPLAINT UNDER SEC 138 AND 142 OF NI ACT

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Quick Summary

This discussion addresses whether a complaint can be filed under Sections 138 and 142 of the Negotiable Instruments Act when a cheque for an expired loan, secured by immovable assets and a cheque, has bounced. The consensus is that cheque bounce proceedings can indeed be initiated, and serving a legal notice under Section 138 is recommended.

kavksatyanarayana (Expert) 05 August 2022
Your query is not clear to me. A recovery suit may be filed by consulting a local lawyer.

P. Venu (Expert) 05 August 2022
Yes, the facts posted lack clarity.

Pradipta Nath (Expert) 06 August 2022
Yes you can. Serve the person a legal notice under section 138 of NI Act. I suggest you to please consider of doing noting and protest as well.

Advocate Bhartesh goyal (Expert) 06 August 2022
Yes, you can initite cheque bouncing proceedings.

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