NI Act 138

Dr.Gaurang N. Gandhi (Querist) 08 May 2010 This query is : Open
my client is a transport owner.

some person had stoled one truck with loaded goods total worth Rs.11,32,000/-

He was arrested by Police. then after one of his friend had given a cheque worth rs 7,00,000/- regarding surety against the said theft. after passing of time the transporter had deposited the said cheque in bank.

the cheque was bounced with insufficient balance.

can we proceed under NI Act?

We have already issued a statutory notice to the guarantor....

what should be next?

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