138 N I Act
c.a.ashok kumar
(Querist) 04 March 2011
This query is : Resolved
whether a central government employee has to get permission from the department to give loan for interest or as a handloan.
under NI act whether body of the cheque to be filled by the issuer of cheque or signature in in cheque alone enough to file criminal case against issuer. pls give some citation
Raj Kumar Makkad
(Expert) 04 March 2011
If cheque is duly issued against a lawful debt and it is bounced then after giving notice to drawer, criminal case under section 138 NI can be filed.
Khaleel Ahmed
(Expert) 04 March 2011
Any body whether the employee or not, should get licence to lend money. Money lending is a business, hence necessary permission from the department is required.Any how the Government department will not give permission to employees.
In cheque there are three parties,drawer,drawee and payee.Any body can write the cheque but the cheque must contain the signature of the account holder.
malipeddi jaggarao
(Expert) 05 March 2011
Mr.Khaleel Saheb, a hand loan given against a promissory note - not as a regular business of lending - is it required to get licence to lend money for this occasional activity? Can't the lender have the legal recourse against such PN simply because he is not holding the money lending licence? Kindly throw some more light.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 05 March 2011
The moment you are charging interest all exemptions are gone.
Mere signature makes cheque doubtful .
Advocate. Arunagiri
(Expert) 05 March 2011
Central government need not get permission for lending his money for interest. But, he can not do the money lending as his business.
Signature is sufficient any body can fill it.
Ajay Bansal
(Expert) 05 March 2011
Agreed with aforesaid view of Arunagiri.
Advocate Bhartesh goyal
(Expert) 05 March 2011
Blank cheque duly signed by drawer is sufficient to file complaint, body of cheque can be filled by any one.
Guest
(Expert) 05 March 2011
Dear Ashok Kumar,
The query has been made in a very de-linked manner, as the following points are not clear:
1) What is the significance of NI Act with reference to loan given by a Central Government employee?
2) Who is the person issuing cheque, whether the Central Government employee or the other party taking loan from him?
Irrespective of whether the Central Government employee needs permission or not from his department, if he has given loan he has the right also to recover the same, and if the other party has issued duly signed cheque without filling in the body, the Central Government employee or any bearer, in case of a bearer cheque, can encash that. Even if crossed cheque has been given without filling in the name, any bearer would draw in his own name. It was for the issuer of the cheque to have been careful while handing over the signed cheque without name or amount.
The question arises, what is the doubt and solution to what problem is required?
PS Dhingra
Chief Executive Officer
Dhingra Group of Management & Vigilance Consultants
New Delhi-110089
Mobile: 09968076381
[dcgroup1962@gmail.com]
