Sec. 138 of n.i. act
Adv.Vishal Anil Vyavahare
(Querist) 12 June 2014
This query is : Resolved
Respected Sir,
My client provide his friend hand loan of Rs. 400000/-(Four Lacks)for his business purpose as he is having close and coordial relations with friends family. Friend and his wife approached to my client and requested to helped them, friend and his wife also assured to repay the entire amount within 2 months but they avoid to make payment. Instead of cash payment my clients friend and his wife handed over the cheque of Rs.400000/-(Four Lacks)of friends wife's account. As my client not had any direct transaction with his friends wife though for repayment of his husbands loan friend and his wife handed over the cheque from her account signed by her. Cheque has been dishonoured due to insufficiency of funds, my client send legal notice to her but she didnt reply.
My query is that Whether Friends wife legally Liable under section 138 of NI Act as she handed over the cheque for her husbands hand laon.
Please suggest with some case laws.
Thanks and regards,
Vishal A. Vyavahare
Advocate
09371821992
V R SHROFF
(Expert) 12 June 2014
As both came together, demanded Loan, and she issued cheque for that amount repayment, she is equally liable.
She can be tried u/s 138 n.i.
Rajendra K Goyal
(Expert) 12 June 2014
Agree with the advise of expert VR SHROFF ji.
Nadeem Qureshi
(Expert) 13 June 2014
For case law you should search through Google. Nadeemqureshi1.wordpress.com
Dr J C Vashista
(Expert) 14 June 2014
I agree with the advise of expert VR SHROFF ji.
T. Kalaiselvan, Advocate
(Expert) 15 June 2014
Due to joint borrow, the wife can be made legally liable for the debt and the cheque bounce case can be initiated against her.
ajay sethi
(Expert) 15 June 2014
both had requested you for loan . cheque issued from wife account . hence she would be liable as cheque has been signed by her in repayment of loan
