Section 138 of the NI Act,1881

Querist : Anonymous (Querist) 02 July 2011 This query is : Resolved
The Complainant,a Company,filed a compliant u/s 138 of the NI Act,1881v in 1997 and the proceeding is on in the Trial Court.
The Complinant Company merged with another Group Company in 2001 but didnot inform this to the Court.

Can the proceedings be quashed at this stage?Charge hasnot been framed so far.

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prabhakar singh (Expert) 02 July 2011
Try,but Company can inform merger still to the Court.

M/s. Y-not legal services (Expert) 02 July 2011
No.. Nothing to worry about the case proceedings.. Its not a problem for your case

prashant pundhir (Expert) 03 July 2011
There is not any need to inform about the merger to the court.

Advocate. Arunagiri (Expert) 03 July 2011
The merger of the has to be informed to the court. But, not informing will not be a ground for dismissal of the case.

By the merger the new company is taking over the assets and liabilities of the merged company. This 138 case will be taken care by the new company.

Advocate Bhartesh goyal (Expert) 03 July 2011
I do agree with Mr tom.Not informing the court regarding merger of company does not fatal the case.Complaint of sec 138 of N.I Act is never mean for recovery of money but for penalise to accused so do not worry.

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