ni act

Querist : Anonymous (Querist) 03 March 2011 This query is : Resolved
we have borrowed rs 30 lac from a firm and also given him cheques. due to some circumstances we were failed and cheques were dishonoured and the party has filed a case on me in ni act sec 138 now we want to pay the amount to the party in instalments but he refused to take payment.if we make him payment 2 lac monthly what will happen

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Raju Ramparag Gupta (Expert) 19 March 2011
File an application for undertaking the Court and pray the magistrate that you want to settle the matter and will pay Rs.2 lac per month

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