SECTION 138

Querist : Anonymous (Querist) 28 August 2010 This query is : Resolved
dear sir
i want to know about stop payment cheque
matter are as under
i am trader of stock market
i give a cheque to the share broker
but broker sell my all shares without
my consent so i was stop payment instruction to the bank and bank have already stoped permenantly but party diposited cheque in the bank first time
cheque was return with remark "stop payment by drawer" but not send me notice
but party deposited again after four month
and return with same reason "stop payment by drawer" and send me a notice
my questation is notice is maintanble?
in my point of view
stop payment by drawer ?
and
account has been closed
in two reason not to deposit again notice issue in first time
am i right?
please advise me
thanks

Follow Query

Report Abuse

Dinesh Sharma (Expert) 29 August 2010
Legally once the cheque has been returned with remarks of 'Stop payment by drawer 'then the 15 days notice has to served within one month. You can take this plea and hopefully court will take cognizance to this technical legal fact.
Dinesh Sharma Advocate. dine_india@indiatimes.com

s.subramanian (Expert) 29 August 2010
You give a reply asto why the payment was stopped. Or else you can reserve that point for your defence in the prosecution if the other party chooses to do so.However you have a good defence and need not worry about it any more.

Adinath@Avinash Patil (Expert) 29 August 2010
YOU MUST REPLY THE SAID NOTICE STATING TRUE FACTS AND GIVE REASONS FOR STOPING PAYMENTS.

Guest (Expert) 29 August 2010
YOUR CASE IS GOOD AS THE OTHER SIDE HAD NOT ISSUED YOU ANY LEGAL NOTICE AFTER THE CHEQUE WAS DISHONOURED FOR FIRST TIME.AGAIN HE DEPOSITED AND GAVE YOU NOTICE.
THIS IS GOOD DEFENCE FOR YOU.AS CAUSE OF ACTION AROSE WHEN THE CHEQUE GOT DISHONOURED FOR THE FIRST TIME.LIMITATION PERIOD WILL START FROM THAT.THIS POINT IS OF COURSE WILL BE DECIDED ON THE BASIS OF ENTIRE EVIDENCE OF THE CASE.THERE ARE CITATIONS ON THIS POINT ALSO.
YOU MAY WRITE AND SEND DETAILS FOR FURTHER HELP.
GOOD LUCK.
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.9271971251, 9960223100
e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com

Sukhija (Expert) 29 August 2010
a person can deposit cheque for payment any no. of times within 6 months validity period.so no problem in this case if chq is deposited again without giving notice. once notice is given then he shd not deposit again.

DEFENSE ADVOCATE.-firmaction@g (Expert) 31 August 2010
Stop payment and closing of account do not constitute any offence under NI 138 against the accused whose cheque is bounced.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now