Cheque bounce threat
Querist :
Anonymous
(Querist) 11 December 2017
This query is : Resolved
I made a agreement with a company for selling their products, so i paid a secutrity deposity of 5 Lakhs by cheque along with 4 undated cheques worth 20 Lakhs rupees.
AS their product was not good, and heavy competion and collecting money from my clients was difficult, i wanted to quit.
Till tem my outstanding was 5.8 lakhs, so i asked them to dedect my commission and security deposity of 5 lakhs and have to pay only around 60 Thousand only....even accounts guy of that company given a confimation mail..
But the management had deposited my 10 Lakhs PDC CHEQUE , as it was bounced, they are sending me letter that if i dont pay 10 lakhs and threaten me that they will file a criminal case against me....
How is this possible,,, Please help me, I have all the bills i bought from them and records of all the payments made to them
kindly guide me....
P. Venu
(Expert) 12 December 2017
Yes, a criminal complaint could be filed under Section 138 of NI Act. But before filing the case, you need to be served with a statutory notice. If such a Notice is served, you may reply setting out the facts and forwarding the cheque/DD in respect of the amount that is actually due. That would, in my considered opinion, filing an action under NI 138 impossible.
Querist :
Anonymous
(Querist) 12 December 2017
I said them i will send a dd and asked them to return back my other PDC cheques with them and give a no due certificate, Instead they ask to pay whole amount and take back my deposit later
Guest
(Expert) 12 December 2017
Exchange by give and take policy is justified on their part. Give DD and take back PDCs. Otherwise, the company need not give you any cheque bounce threat, but can make sure that the cheque bounce case gets matured through the court law, which may even land you in jail.
