Section 138 of niact

Querist : Anonymous (Querist) 07 August 2022 This query is : Resolved
if accused in 138 ni act submits cheque for loan amount in magistrate court then can court refuse to accept it.

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Quick Summary

If you're facing a Section 138 NI Act case and wish to pay the loan amount via cheque in court, the magistrate may accept it. However, they might request a demand draft depending on the case specifics. The best course of action is to approach the court to compound the case, leading to a compromise deed and potential withdrawal of the case.

kavksatyanarayana (Expert) 07 August 2022
No. You go to the court and ask for the compounding of the case there only as it will help you in getting a compromise deed which will be signed in the presence of the mediator and the case will be withdrawn before the court in your presence. It will be a better option for you.

P. Venu (Expert) 07 August 2022
Why 'if'? Please post the real issue, if any.

SHIRISH PAWAR, 7738990900 (Expert) 08 August 2022
Hello,

Court may not refuse to accept the cheque against the loan amount. However court may insist for dd of the amount as per facts of your case.

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