Old cheques reg

pushpakrishna (Querist) 03 February 2016 This query is : Resolved
dear experts,
a old cheque given for the purpose of a loan to the company and loan also setteled long back but cheque not returned by the company nor asked by the party .after 7 years the company filed a case u/s 138 of N.I act alleging some interest is due with recent date.
i think in 2012 old cheques all are cancelled by the Reserve bank of india. can any experts give an advice on the above and giving the exact date of cancellation of the cheques. thanq in advance

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Suhail A.Siddiqui (Expert) 03 February 2016
It is one of the good defence along with the final payment/settled loan evidence.

Rajendra K Goyal (Expert) 04 February 2016
Prove that the balance if any is time barred and cheque was given 7 years back. Change in style of the cheque is good ground for you.

Try to lodge criminal complaint against the misuse of old cheque.