Regarding n.i act (urgent)
Nirupom Dutta
(Querist) 14 August 2014
This query is : Resolved
A cheque was issued by a financial company to my client who is an agent of this financial company. The said financial company is a registered company under society registration act .During 2007-08 the said company announced one scheme that if any one invested Rs- 500 they will get the amount double after 5 years and accordingly people through the said agent invested money in said above scheme of the company, now after maturity all the scheme holder authorized the agent to collect the maturity amount from the company on their behalf and as such the chairman of the company by calculating all the matured amount of all the certificate holders issued one cheque of Rs-1,00000.00 on the name of the agent. After presenting the said cheque to bank the cheque was dishonored due to insufficiency of funds. Now the said agent wants to file a complaint u/s 138 of N.I act
My quarry is:-
1. Whether is it possible to file the complaint against the chairman of the company who issue the cheque or against the company?
2. Whether the authorization letter by scheme holders to agent will be enough or a power of attorney is required to be executed in favor of the agent by scheme holders to conduct the suit.
3. Any other relief kindly suggests.
manoj joshi
(Expert) 15 August 2014
dear bro
he can file case against chair man
simpaly as we do in ni.act cases
facts will be same as u mentioned
no need of poa or any other doc
they can be used as witnesses
burden of proof will shift to chairman that why he issued such a cheque......
u ve consideration on behalf of certificate holders as u r agent
Advocate. Arunagiri
(Expert) 15 August 2014
1. You can initiate prosecution on the cheque signatory and another officer who are in-charge of day to affairs of the society.
Authorization letter is enough, only after accepting this authorization letter the society had issued the cheque.
ajay sethi
(Expert) 15 August 2014
case should be filed against chairman who issued cheque and the company . authorisation letter should suffice
Rajendra K Goyal
(Expert) 15 August 2014
case need be filed. agree with the expert.
Biswanath Roy
(Expert) 16 August 2014
Follow cheque bounce case along with the complaint of cheating against the Chairman of the company. This is a disguised CHIT FUND CASE.
Sudhir Kumar, Advocate
(Expert) 20 August 2014
repeated
http://www.lawyersclubindia.com/experts/regarding-N-I-act-urgent--490761.asp
Biswanath Roy
(Expert) 20 August 2014
Persuant to my earlier post and in connection thereto I advice you to report the incident to SEBI, Reserve Bank of India and Registrar of Companies in your state.
T. Kalaiselvan, Advocate
(Expert) 20 August 2014
I agree with the experts views that a private case u/s 138 NI act can be filed by following other formalities in this regard.
