sec. 138 N.I. Act.

Querist : Anonymous (Querist) 20 December 2010 This query is : Resolved
Dear Sir/ Madem

in the case of cheque dishonour, applicant buy a running institute from the seller and give him all amount except Rs.82000. for this amount he make a cheque in favour of seller. but before the cheque clearance the advertisement agency told him to clear the the balance with Rs. 75000. so he told hto the selleron mobile/verbally.
but the seller said that this matter is lies between the agency and seller. you are not bother for that amount.
but the actually amount is due on the institute not to the owner. that is why applicant not deposited amount in the bank account. result was that cheque had dishonour due to insufficient amount.
now my question is is my client( buyer) is put this matter in his safety.

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SACHIN AGARWAL (Expert) 20 December 2010
It is better to go for compromise in the matter. Your Client can demand the said dues by filing a separate suit.

Y V Vishweshwar Rao (Expert) 20 December 2010
If the sale Terms are with clause all dues shall be paid by the Vendor before the sale to you - your stand is correct - the Institute is sold with all rights and liabilities including the Agency Bill - it is otherwise - it depends on the terms of the sale of the institute .

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