sir, an nbfc issues a loan to its member upon surity of three other persons as jointly and severally. one surity issues a cheque for loan payment in whole. that cheque dishonoured by bank due to insufficient funds. what are the legal remedies in this case . is it comes under s.138 of NI act as that surity is not main loanee or he is?
any judgement in this regard is helpful,
thanx in advance