Dishonour of cheque 138 act

Shraddha (Querist) 15 July 2016 This query is : Resolved
Our company has issued cheque and it is bounce we are 2 director for company then in this case who will liable company or directors individual?

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SAINATH DEVALLA (Expert) 16 July 2016
As the company is represented by both the directors in the day to day transactions both of them are jointly and severally liable for the documents issued for the same.

Rajendra K Goyal (Expert) 16 July 2016
Company and directors both jointly and severally are liable.

R.K Nanda (Expert) 16 July 2016
Nothing to add.

Guest (Expert) 16 July 2016
Well advised.

Dr J C Vashista (Expert) 19 July 2016
What is the advise of your company lawyer?

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