Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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pravin jain (proprietor)     05 December 2009

Is transaction Debt or Other Liability under N.I. ACT

A Chartered Accountant  received fees in the name of his CA Firm, did pre investment feasibility report, Detailed Project report and certain other works.Due to some dispute  HUF of, proprietor of CA Firm issued cheques to repay the amount to the company and they  got bounced.

 Now question arises :

(1) Whether the karta of HUF shall be liable for fees received by
      CA firm ?  
(2) Whether fees received by CA Firm and returned by his HUF to the company is  a Debt or  Legally enforceable liability against karta of HUF?
(3) Whether cheque issued  by HUF to return the fees of CA Firm shall be treated as issued  for consideration?
PLEASE COMMENT ON THE PROBLEMS WITH RESPECT TO NEGOTIABLE INSTRUMENT ACT.
 


Learning

 4 Replies

Anish goyal (Advocate)     06 December 2009

Jain sir i m not able to understand your language. Please clarify more.

R.K.SUNDERRAJ (LAWYER HUBLI,KARNATAKA)     06 December 2009

There is confusion in the question,Anyway I would like to get a clarification,that do you mean that wheather the service rendered by you amounts to debt or legally enforcable debt.

pravin jain (proprietor)     06 December 2009

Dear R.K.SUNDERAJ

Yes,  I want to know whether amount received to rendered the services amounts to debt or legally enforceable debt.?

pravin jain (proprietor)     06 December 2009

Dear Anish Goyal

A Chartered Accountant  received fees in the name of his CA Firm,due to some dispute  instead of  CA Firm  the amount  returned to the client of CA Firm  by his HUFand the cheque   got bounced.

 (1) Whether the HUF shall be liable for fees received by  CA firm ?  

(2) Whether fees received by CA Firm and returned by his HUF to the company  amounts to Debt or  Legally enforceable liability?

(3) Whether cheque issued  by HUF to return the fees of CA Firm shall  cover under section 138 of N.I. Act.?
PLEASE COMMENT ON THE PROBLEMS WITH RESPECT TO NEGOTIABLE INSTRUMENT ACT.

 


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