138 case

mangesh (Querist) 10 May 2011 This query is : Resolved
dear sir,we hv one partnership firm with 2partner in construction co. We added 1 more partner for finance purpose with legal documents. We hv recd part payment in firms name. after 6 months he told us to breakup partnership n return money with interest. He insist n pressurised me only for money and he took blank date pdc with written stamp paper. Now he is threatened me of ni138 act. so pl help me out for this matter.

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Arvind Singh Chauhan (Expert) 10 May 2011
Answer may be given after knowing the content of written stamp paper?

Advocate. Arunagiri (Expert) 10 May 2011
You have given the PDC, stamp paper. You have a least chance of defence if the cheque bounce case is initiated.

mangesh (Querist) 10 May 2011
it means there is no value of partnership deed.

PARTHA P BORBORA (Expert) 10 May 2011
If the deed of partnership was registered then the dissolution of the firm shall be in accordance with the provisions made under Indian Partnership Act. The terms and conditions of the deed are mandatory for the partners and if there is a specific procedure laid down in the deed for dissolution of the firm, partners are bound to follow.

Guest (Expert) 11 May 2011
Unless cheque is dishonoured due to shortage of funds, the case under sec. 138 can't be launched. On bounce back of the cheque he should have given due notice to you for payment. Please clarify if both events have happened or not?

M/s. Y-not legal services (Expert) 11 May 2011
you may inform to your banker for STOP PAYMENT on the subject cheques.. after dis honour of the cheques, he will issue a legal notice.. you may give a reply by stating all facts.. now you have cahncaes to break his case..

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