Cheque bounce solution
Satyendra Singh
(Querist) 13 October 2012
This query is : Resolved
My client has issued some cheques to vendors in July`12 out of which 2 have been dishonoured due to insufficient fund and that time there was very financail crunch of my client
The vendor has lodged a complain in the court against against my client vide section 138 of Negotiable Instrument Act.
The court has issued Summons against the above issue.
Now the fund position of my client improved and ready to pay the whole amount.
Is it possible to solve this case out of court by meeting with the vendor and his advocate.
Pls. advise how can solve this matter,the vendor is also ready to settle this case out of the court
Pls. help
Advocate Bhartesh goyal
(Expert) 13 October 2012
Yes appear in the court on your case hearing date and either deposit the cheque amount in court or pay to same complainant in court.your case will be disposed off by absolving you.
Satyendra Singh
(Querist) 13 October 2012
Is affidavit required in this case
ajay sethi
(Expert) 13 October 2012
make an application for compounding under Section 147 of NI act on the first date of appearance .
the probelm that has arisen in many cases is the complainant takes the money but does not with draw the case . so better make application for composuning deposit the cheque amount in court nad pay the compounding charges
V R SHROFF
(Expert) 13 October 2012
Agreed with Shri Sethy.
On very first date, offer to pay, and compounding is allowed.
