pls advice

Radhaswamy (Querist) 05 May 2010 This query is : Resolved
Debtor drafted a demand pro note on 1/6/2002. Also he issued post dated cheque for 1/12/2002.But payee presented the cheque on 1/7/2003. The cheque was dishournerd. What legal remedy is available for payee? Pls Advice..

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Krishnamurthy Ramdas Iyer (Expert) 05 May 2010
No remedy U/s 138 of N I Act.
However if there is proof of money to be recovered then Summary suit or money recovery suit.

A V Vishal (Expert) 05 May 2010
One of the pre-requisite of S 138 is the cheque has to be presented within 6 months of issuance, however, from your query it is clear that the cheque was not presented on the due date and the pro-note is also barred by limitation, what ever the reason may be, hence you are barred from proceeding under s.138 and also filing a money suit.