Stop payment
satheeshkumar k
(Querist) 05 March 2013
This query is : Resolved
i am working in a share broking. One client have invest Rs.690000( they give amount way of net transfer to demate account) for day trading and delivery basis. His invest after 7 months their investment amount come to around Rs.200000. They get my account cheque without fill the date, for their investment amount Rs.690000 for cheating to come with his friends. Am sufferingly going to give "stop payment" for that cheque through netbanking. Now they fill the date and going to collection of that cheque and that cheque was returned the reason of stop payment. He is going to court and file the case us 138. Now 200000 value shares in their account at the same time file the case against my cheque. This is legal to us 138?. Can i punished us 138?. Please tell.
Kiran Kumar
(Expert) 05 March 2013
Well Criminal Liability cannot be ruled out in your case as it is against the Dishonour of Cheque.
If on the date of presentation of cheque, there was Stop Payment instructions and simultaneously there were Insufficient Funds in the Bank account then certainly the prosecution u/s 138 NI will sustain.
But if the funds were sufficient and the Stop Payment Instructions were there then S.138 NI complaint will not sustain.
Raj Kumar Makkad
(Expert) 05 March 2013
You have no told whether you had replied against the notice sent by him or not and if yes what was your stand therein without which you cannot be advised further.
