A person who is a managing parter of a firm issues a cheque and died after 10 days. But the cheque was presented for colelction in bank after 4 months and dishonoured. Does the cheque is valid and can other partners be prosecuted?
V.S.Rajaram (Advocate) 20 February 2011
A person who is a managing parter of a firm issues a cheque and died after 10 days. But the cheque was presented for colelction in bank after 4 months and dishonoured. Does the cheque is valid and can other partners be prosecuted?
Adv. Subhadeep Saha (Lawyer.) 20 February 2011
Yes, the cheque is valid & the firm shall be liable to be prosecuted if the deceased partner issued the cheque in the name of the firm and in his official capacity. Other statutory requirements are also to be observed like demand notice & non-payment of cheque amount to file a 138 NI act case.
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