cheque bounce

Achyuth (Querist) 14 September 2009 This query is : Resolved
My father is into pharmaceutical business. It is a partnership firm consisting of two partners. The business went into huge loss.My father's share of funds in the company is more than that of his partner.Now the partner is not turning up to the company since he has to invest. we don't no about his where a bouts, he has shifted his residence and changed his phone no too. so the only catch we have on him is that he has signed and given my father 5 cheques of 5 lacs each, undated. This he gave because my father sold our land and settled the account of the supplier. so if we now deposit the cheques ,i am sure it will dishonor. can criminal action be taken against him on the consequence of cheque bounce. we also have a supporting document regarding these cheques duly signed by him on the company letter head stating that " i have received sum of twenty five lacs for business development. can criminal action be taken against him. l will be grateful if i am suggested how to proceed further.riven

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A V Vishal (Expert) 14 September 2009
Achyuth

As per the query you say the partner is absconding, you can deposit the cheque and see, if it bounces then proceed legally against him under 138 of NI Act, however, the notice has to be sent to the last known address and when it is returned then try to advertise the notice in a newspaper, you can also file a criminal complaint of cheating against him, but the ultimate result would be even if the court passes orders exparte in your favour, it still cannot punish the guilty as he is absconding, only hope is if he has any property in his name, you can plead the court for attachment and declare the partner as a proclaimed offender.riven

Sarvesh Kumar Sharma Advocate (Expert) 14 September 2009
first u dishonord that cheques then 138 n.i.act will applicable.riven

Sachin Bhatia (Expert) 14 September 2009
First of all dishonord the cheque and proceed u/s 138 of N I Act. Apart from this also file another complaint against him u/s 420 of IPC, who knows in the meanwhile you catch him some where.riven

Guest (Expert) 14 September 2009
NANDKUMAR B.SAWANT.M.COM.LL.B.
(MUMBAI),ADVOCATE

MOBILE.09325226691, 09271971251

e.mail.adv.nbsawant@yahoo.com

e.mail.nandkumarbs@sify.com

REGARDING THE CHEQUES AND N.I.ACT.SEC.138 KINDLY NOTE THAT

1.YOUR FATHER HAS SUPPORTING AGREEMENT FOR THE CHEQUES ISSUED HENCE HE MAY SEND THE CHEQUES FOR CLEARING AND GET THE CHEQUES DISHONOURED.KINDLY NOTE THAT FOR FIVE CHEQUES FIVE SEPERATE NOTICES ARE TO ISSUED FOR DISHONOUR OF CHEQUE UNDER SECTION 138 OF NEGOTIABLE INSTRUMENTS ACT.

2.KINDLY NOTE THAT THE SAID CHEQUES ONCE DISHONOURED ,ON THE LAST KNOWN ADDRESS BY REGISTERED POST A.D. AND ALSO IN NEWS PAPER YOU CAN PUBLISH THE NOTICE.

3.IN CASE COVERS RETURNED UNSERVED THEN THE SAME CAN BE PRODUCED IN THE COURT ALONG WITH NEWS PAPER CONTAINING THE SAID NOTICE.

4.IN CASE PAYMENT IS NOT MADE WITHIN 15 DAYS FROM THE DATE OF PUBLICATION OF NOTICE OR SERVICE OF NOTICE BY REGD.POST AD. THEN YOU MAY FILE A CASE UNDER SECTION 138 OF NEGOTIABLE INSTRUMENTS ACT.

5 KINDLY NOTE THAT THERE IS A RECENT AMENDMENT AND COURT FEE STAMPS OF 2% OF THE AMOUNT OF CHEQUE DISHONOURED ARE TO BE PAID AT THE TIME OF FILING OF CASE AND OTHER MISCELLANEOUS EXPS WILL BE ABOUT TWO TO FIVE THOUSAND PER CASE PLEASE NOTE.

6 HENCE BEFORE DEPOSITING ALL CHEQUES KINDLY MAKE PROVISION FOR COURT FEE STAMPS OF 2% OF THE AMOUNT OF EACH CHEQUE AND ALSO FOR OTHER EXPS PLEASE NOTE.AND THEN YOU PLAN WHETHER TO SEND ALL FIVE CHEQUES FOR CLEARING AT THE SAME TIME OR AS PER YOUR FINANCES ONE BY ONE AND FILE CASE BY MAKING OTHER MONEY PROVISION AS STATED ABOVE.

7KINDLY NOTE THAT COURT WILL HEAR YOU AND YOUR LAWYER AND ISSUE PROCESS UNDER SECTION 138 OF NEGOTIABLE INSTRUMENTS ACT AGAINST THE SAID PARTNER ACCUSED.KINDLY NOTE THAT FURTHER LEGAL PROCEDURE IS THE JOB OF LEGAL EXPERT PLEASE NOTE.

YOU WILL SUCCEED .

IN CASE ANY FURTHER HELP IS REQUIRED

KINDLY SEND EXACT DETAILS OR PLEASE CALL.

WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS.

THANKING YOU

YOURS SINCERELY

NANDKUMAR B.SAWANT.M.COM.LL.B(MUMBAI),ADVOCATE.riven

Raj Kumar Makkad (Expert) 14 September 2009
No doubt complaint under section 138 of NI Act can be filed as per procedure laid down therein but in your case question is how shall you trace him and how shall you recover your payment? It shall be better if you simultaneously trace out his hidden movable or immovable property. If this is done, you may simultaneously file suit for recovery and seek stay against further disposal till the proceeding go on.riven