138 N.I.Act

rAJAN (Querist) 08 June 2011 This query is : Resolved
I am authorized by company to sign cheques on behalf of company , but the cheque is beign stopped by the company

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M/s. Y-not legal services (Expert) 08 June 2011
Whats your query sir.. I think your query is incomplete..

PALNITKAR V.V. (Expert) 08 June 2011
you can be prosecuted if other ingredients of sec. 138 are made out.

prabhakar singh (Expert) 08 June 2011
seeking pardon from Mr. Palnitkar,Mr.Tom is Right.
Here i have a question against your question,why did you not prefer to tell us while you are authorized to issue cheques,who on behalf of co. is authorized to stop cheques issued for payment by you??? i pose this question only because a co. though a juristic person,can act only through human medium.

sharad raghav - 9990549475 (Expert) 08 June 2011
you don't have to warry about that bcoz in case of dishonour of cheque ,company will be liable.and no one can make you liable for that as it was done on compnies behalf not in your personal capacity.

Guest (Expert) 08 June 2011
But the cheque is being stopped by the company not by you that you have to prove to escape from the liability otherwise it shall be presumed in favor of complainant .

PALNITKAR V.V. (Expert) 09 June 2011
With due respect to Shri. Prabhakar Singh and other experts, I would like to submit that the cheque was being signed on behalf of the company. The payment was stopped by some other person on behalf of company. The person who stopped payment, will say that he is not liable as he has not signed the chq. or that the payment was stopped as the other person has wrongly issued it. The person issuing the chq would say that i didnt stop the payment so i am not responsible. What the complainant as a holder in due course should do? Can such liability be tossed by the company? Is signing cheqs on behalf of company not the part and parcel of day to day affair of the company. Is a person who looks after day to day affairs of the company not responsible? And company being a juristic person, some other biological person has to be held responsible if imprisonment is to be awarded. Whom to sent to jail? the person who stopped payment or the person who signed the cheq.N what abt various presumptions under NIAct?

Advocate. Arunagiri (Expert) 09 June 2011
Whether you have a cheque bounce case?

Or are you asking for your status under this circumstances?

Sarvesh Kumar Sharma Advocate (Expert) 09 June 2011
at the end of the day company will be lible!

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