RAMESH PAI (MANAGER) 28 April 2011

help me in 138 N I Act

Respected sir,

I have been accused under 138 ni act, in the year 1996 our father took a loan in NBFC

where my elder brother was the Ist guarantor and i was the second guarantor. In the year 2003

my father passed away and in the year 2006 my elder brother also passed away. Now without

the notice to me they appointed arbitrator, on the decission of the arbitrator the NBFC charged

me 7,50,000/= the original loan was 300000/=. some how they managed to take a my signed

cheque. Now i donot how to manage the situation. Now the said NBFC(non banking financial

corporation) is also in trouble they have not paid the amount to the depositors.

Thanking you sir.

Reply Follow

5 Replies

adv. rajeev ( rajoo ) (practicing advocate) 29 April 2011

Whether cheque is bounced? Have you received any notice under 138 of NI Act? If these two are not, then write a letter to the bank to stop the payment of the cheque mentitoning the number of the cheque issued to the NBFL and send the copy of the same to the NBFL. You have to mention the grounds to stop payment.

Vikas Sharma (Company Secretary) 29 April 2011

Sir,

Whether stop payment does not results in any civil action. Kindly throw some light on relevant provisions.

Thanks.

Om Prakash Dhusia (HR assistant) 01 May 2011

Dear Ramesh Pai: with all the sympathy for trouble having fallen on you, if you are the guaranter and issued cheque to NBFC and if the cheque has been bounced then you are liable u/s NI Act 138.But please don't raise vague queries and if some memebr/expert wanted to help you then it becomes your duty to furnish him the details.How can you expect suggestion if you are not transparent?

krishnamoorthy (lawyer) 03 July 2011

sir ,

i want in ni act 138

in case death of complinant

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 03 July 2011

If case if files appear and contest with proper legal aid you can come out of it.

And as suggested by other expert that if you want help and proper advice you must provide all the details.Mere crying to seek sympathy will be useless.