Section 138 of NI ACT

Querist : Anonymous (Querist) 25 December 2009 This query is : Resolved
Sir/Madem,

A cheque was issued by a debtor to a creditor for a sum of Rs.4,50,000/- and the same was dishonored. By the time of issuing the said cheque, the total amount of debt due under the promissory note is only Rs.4,49,000/-. Original Borrowed sum is Rs.3,00,000/- along with interest it comes around Rs.4,49,000/-. Can the creditor file a Complaint under NI Act, for the prosection of the offence.

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n.k.sarin (Expert) 25 December 2009
yea, creditor can file complaint against the debtor.To avoid unnecessary litigation, after receiving notice from the creditor regarding dishonored of cheque debtor must makes payment to the creditor.

Querist : Anonymous (Querist) 25 December 2009
Sir,

I would like to further inform you that the legally enforceable debt is only Rs.4,49,000/- only. Whereas the cheque issued for the sum of Rs.4,50,000/-

Sachin Bhatia (Expert) 25 December 2009
Yes the creditor file a Complaint under NI Act, for the prosection of the offence.

Poonam Upadhyay pathak (Expert) 26 December 2009
Agree with the above opinions, the creditor can file a complain under the NI Act.

K.C.Suresh (Expert) 26 December 2009
wHAT IS YOUR DOUBT? The case for cheque and its dues or legally debetd amount.

Adinath@Avinash Patil (Expert) 26 December 2009
In my opinion there is no legally enfoceable liability of Ruppes 50,000/- as there is exising libility of Rupees 49,000/- as stated in querry. Hence N.I. Act section 138 is not attracts accussed will acuitted.

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