Section 138 of the NI Act.1881

Querist : Anonymous (Querist) 04 July 2011 This query is : Resolved
A company had entered into a hire purchase financing for assets with another company and had issued post dated cheques towards payment of installments. After cheques bounced,the financing company filed a complaint under Section 138 of NI Act,1881.

In 1998,the Company which had entered into the HP transaction and issued the cheques,went into liquidation.

The Official Liquidator was summoned to represent the Liquidated Company but didnot appear.

Can the Liquidated Company be dropped as an accused and proceedings continued against others?

Follow Query

Report Abuse