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Meenakshi (Lawyer)     17 February 2010

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A lended some money to B in May 2007....B then on Feb 2009 issued a cheque to pay back and A deposited it just 2 days before the validity period(6 months).The bank returned the cheque stating outdated cheque and insuffiecient funds....its feb 2010....its too late to issue legal notice...what can be done to recover the money as B has no intentions to pay t back....



Learning

 13 Replies

Meenakshi (Lawyer)     17 February 2010

Also there is no promisory note.......

sugandh (student)     17 February 2010

b shall be booked under cheque bouncing...sec 138, NI Act

shrikant chede (law officer)     17 February 2010

Ragister case under negotiable insrument act section 138

V. VASUDEVAN (LEGAL COUNSEL)     17 February 2010

Quite a lot of gap between the date of presentation and the bank returning - What was happening in between did the presenter cheque follow this through with the bank. These details are crucial.Base on the facts, a legal notice to be issued before any prosecution vasudevan.

Meenakshi (Lawyer)     17 February 2010

A legal notice for 138 cannot be served any more as its a time barred debt........Acc to NI act legal notice can only be served within 30 days from the date of  knowledge of dishonor........

R.R. KRISHNAA (Legal Manager)     17 February 2010

Since you say that the cheque got dishonoured on feb. 2010, it is within the limitation period of 30 days. You can issue a legal notice for cheque dishonour.

kranthi kiran (Works In Judicial Department)     17 February 2010

I think cheque was dishonoured in the month of August,2009. Limitation for filing NI Act case is expired.No chance for intiation of Proceedings under NI Act. A suit for recovery of money based on the cheque can be filed as time lomit of 3 Years expires by may 2010


(Guest)

A can file civil suit  for recovery of amount with interest even without giving notice, as the limitation period for recovery is of three years, and cause of action of civil suit will be the  date of bounce of cheque.

1 Like

N.K.Assumi (Advocate)     17 February 2010

Civil,Suit can be filed, as the debt is not time barred computing from the period of money lend that is on May 2007.

Swami Sadashiva Brahmendra Sar (Nil)     17 February 2010

Mr Krishna is right.

Manish Singh (Advocate)     17 February 2010

only a civil suit for recovery shall lie under which you can also claim damages and interest. file a suit for recovery as there would be no other way out.

Arvind Singh Chauhan (advocate)     17 February 2010

I go with Manish Sir.

Daksh (Student)     18 February 2010

Ms.Meenakshi,

Send a legal notice enumerating the facts and circumstances under which the "LEGAL DEBT"  accrued to your client. It should also be stated that your client wishes to give one last opportunity for which the cheque in question should be replaced and or in the alternate the demand draft for the same amount along with the market interest be paid to your client.  Last but not least you reserve your right for any civil or criminal action (section 420).

To sum up this is to say and suggest that you have a right to initiate proceedings u/s 420 IPC to nail down the culprit if the limitation period for s 138 N I Act bars the same.

Best Regards

Daksh


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