138 N.I.Act

Legal_Query (Querist) 12 September 2009 This query is : Resolved
Dear Friends,

I wanted to know whether a cheque given under "VAAYDA Transaction" can be utilised under NI Act.

Thnks & Rgds
riven

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Raj Kumar Makkad (Expert) 12 September 2009
Generally a cheque is issued to discharge a liability and NI Act also give reliance to this presumption, however, in the case like you, if the cheque has been presented without having any liability the same and has been dishonoured, in that case no offense is made out but the onus heavily lies upon you. It is better to take undertaking/receipt from the bearer of the cheque prior to its issuance that the same is against VAAYDA TRANSACTION and shall not be presented without written liability or direction from your side.riven

Bhumik Dave (Expert) 12 September 2009
Agreed with Mr. Rajkumarriven

Suresh C Mishra (Expert) 12 September 2009
it is seen that post dated cheques are obtained without providing any receipt as suggested by Sri Rajkumar jee , in such case i think the borrower should have send a notice just after giving such cheques to avoid further harassment.riven

Adinath@Avinash Patil (Expert) 12 September 2009
yes, if you proved legally executable libility n.i. act section 138 applicable.riven

Sachin Bhatia (Expert) 12 September 2009
If you prove that the cheque was issued by the accused in discharge of his libility than section 138 of N.I. act is applicable.riven

PJANARDHANA REDDY (Expert) 13 September 2009
WHEN CHQ BOUNCES FOR THE REASON INSUFFICIENT FUNDS IN UR ACCOUNT,THE 138 NI ACT ATTRACTS , U HAVE TO PROVE IN EVIDENCE MARKING ALL DOCS AND 313 Cr P C EXAMINATION AND UR ADVOCATE AURGUMENTS TO THAT EFFECT TO COME OUT FROM THE CASE..riven

Guest (Expert) 13 September 2009
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.09325226691, 09271971251
e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com
REGARDING N.I.ACT.KINDLY NOTE THAT.
1.YOU ARE HAVING CHEQUE IN YOUR FAVOUR.JUST DEPOSIT IT IN YOUR BANK AND IN CASE IT GETS DISHONOURED THEN SEND A NOTICE OF DISHONOUR OF CHEQUE WITHIN 15 DAYS FROM THE DATE OF DISHONOUR OF CHEQUE UNDER SECTION 138 OF NEGOTIABLE INSTRUMENTS ACT MENTION ALL FACTS AND HOW THE DEBT IS LEGALY ENFORCEABLE DEBT.

2 IN CASE THE OTHER SIDE SETTLES MATTER WITHN 15 DAYS OF SERVICE OF NOTICE THEN MATTER ENDS .IN CASE THE MATTER IS NOT SETTLED THEN YOU HAVE TO FILE A CASE UNDER SECTION 138 OF NEGOTIABLE INSTRUMENTS ACT WITHIN 30 DAYS FROM THE LAST DATE OF NOTICE PERIOD DATE .
3.KINDLY NOTE THAT TO PROVE YOUR TRANSACTION AND DEBT LEGAL YOU HAVE TO SUBMIT SUPPORTING DOCUMENTS ALONG WITH YOUR SAID TRANSACTION PLEASE NOTE.
4.KINDLY NOTE THAT THERE SHOULD NOT BE ANY DIFFICULTY IN FILING YOUR CASE IN THE COURT ON GIVEN INFORMATION.ONCE PROCESS IS ISSUED THEN ACCUSED HAS TO SETTLY THE DUES AS IT IS A CRIMINAL COURT MATTER AND SUMMONS AND WARRANTS ARE SERVED THROUGH POLICE PLEASE NOTE.

IN CASE YOU NEED ANY FURTHER INFORMATION KINDLY SEND EXACT DETAILS OR CALL.
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS.
THANKING YOU
YOURS SINCERELY
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE.riven

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