138 ni act

sandeep (Querist) 05 October 2012 This query is : Resolved
i was distributor of a company a person who want franchisee paid rs 1 lack to a company by chq but company did not appointed him as a franchisee when he request for refund company director says (verbaly)me to give my chq to him and promise to transfer amount in my account i issued a chq to him but company didnt transfer amount in my account and chq bounced .am i liable to pay is this 138 ni offence .

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Arvind Singh Chauhan (Expert) 05 October 2012
You have done blunder. Now you have only defence that your are not liable to pay any debt or liability to him, it is company which is liable.

If he issues notice to you, consult with lawyer and answer carefully.

Nadeem Qureshi (Expert) 05 October 2012
yes, according to section 138 of NI Act if the cheque is bounced, the person is accused, but if the person who issue the cheque proved that he is not under any liability he can be discharge or acquittal.

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