NEGOTIALBLE INSTRUMENT ACT S. 138

DEVENDRA (Querist) 20 September 2009 This query is : Resolved
I have heard about one S.C. judgement which says that bank or co-op. society can't file complaint u/s 138. Is it true ?
If yes, please give information about that judgement.riven

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PALNITKAR V.V. (Expert) 21 September 2009
I didnt come across any such ruling. In fact banks are filing such cases in loan matters.riven

Guest (Expert) 21 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 THE BANK AND COOP.SOCIETY AND SEC.138 N.I.ACT.KINDLY NOTE THAT.

1.IN CASE CHEQUE IS GIVEN TO BANK OR COOPERATIVE SOCIETY FOR REPAYMENT OF ANY LOAN OR FOR ANY OTHER LEGALY ENFORCEABLE DEBT THEN BANK OR OPERATIVE SOCIETY CAN FILE COMPLAINT UNDER SECTION 138 OF NEGOTIABLE INSTRUMENTS ACT THROUGH THEIR AUTHORISED OFFICER PLEASE NOTE.
2.KINDLY NOTE THAT THERE IS NO SUCH JUDGEMENT AVAILABLE AS ALL JUDGEMENTS WILL BE AS PER THE PROVISIONS OF LAW AND PROVISIONS OF NEGOTIABLE INSTRUMENTS ACT SEC.138 AND OTHER PROVISIONS PLEASE NOTE.
3.KINDLY FURTHER NOTE THAT IN CASE COMPLAINT IS FILED BY OFFICER WITHOUT ANY PROPER AUTHORITY LETTER FROM BANK OR FROM COOPERATIVE SOCIETY THEN ACCUSED MAY TAKE DEFENCE THAT NO PROPER AUTHORITY LETTER FILED ON RECORD AND COURT MAY CONSIDER SAME FOR ACQUITING THE ACCUSED PLEASE NOTE.
IN CASE YOU NEED ANY FURTHER HELP KINDLY SEND DETAILS .
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS .
THANKING YOU
YOURS SINCERELY
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE.riven

Sachin Bhatia (Expert) 21 September 2009
There is no such judgement. Bank & co-op. are filing such cases. There is no judgement which restrict them from filing case u/s 138 on N.I. Act.riven