Sushil (Mgr) 05 February 2010

Dishonour of CHeque for a Loan which was not taken

A finance company alleges that a privalte limited company took loan of Rs 10 Lacs.

There is no document of Loan Agreement.

There is no provision of interst on loan agreemnt.

There is no writttern application of Loan Agreement

The company allegged seeking loan had a suit of recovery filed against them during the alleged loan taking.

The date on which Loan was taken by the Mg. Director of the company as alleged by the Finance company , Mg Directoer of the company alledged to take loan was not in the said city as per the records of the Goverment.

There is no resolution in the company alleged to take loan for taking of loan

The case is a dispute of Directors in the Pvt Limited company.

2 groups of partners decided to ifnuse fund in company (aslo resoved in the board meeting) as unsecured loans from directors.

One group infused 10 Lacs Rupees through demand draft, claiming to be made from his account , and later missused company cheque and get them bounced ,

The siad Director also happens to be the director of the Finance company who alleged to given loan.

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5 Replies

Ya_Ta (Software Professional) 05 February 2010

very confusing details please post point by point for easy understand

Sushil (Mgr) 06 February 2010

In a pvt ltd company 2 directors decided to put unsecured loan

One direct0r being Mg director put 10 Lac as unsecured loans, other director also submitted Demand drafts in his father name for 10 lacs

within few months of putting funds, the company became sick and the company also reported some missing cheque to policstation

few days after the MG directror recived received notice for bouncing of said cheques , which the claimant , a finance company sayng tht they had advance a loan to the company.

As the pvt ltd company has not taken any loan from the finance company, and the director of finance company also happen to be the otehr drictor who signed on those cheques. AS he stole the cheques and used if to harass the Mg director.

THe finace company claims to issue a loan on a particular date, and its been proved the Mg Dir. was not in the said city on tht date. Nor there is any loan application, or loan agreement. The Pvt company also had a 4 years civil suit recvovery filed against it before this happenings.

(Guest)

Dear Sushil,

You case is very complicated. But to file any case in Section 138 of NI. Legally enforceable Debt and Liability has to be taken into an account. If there is no Legally enforceable Liability then in my opinion you cannot be booked under Section 138. It will be better to hire a good lawyer for the same.

Regards,

Vivek

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 19 November 2010

If the payment is made in the name of company the liability will be threre subject to limitaion.

peter (manager) 19 November 2010

hi my self peter rose,......................

It was a pleasure talking to you....was going through notes on dishonor in case of cheques and chanced upon your query....on an impulse called you....sorry!!!! anyways take care and thanks for being a friend!!!! stay connected!!!

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