I was running a business (manufacturing & export) in 2007 and one friend came to join in my business and he advised me that, he can invest in the company and and can work on partnership basis. I have agreed and he started coming to my place and my factory act as a partner but he never invested a single money to the company and he asked me to register a private limited company and once it is registered he can invest the money in it and we registered a Pvt Ltd company and all the charges I made and he told me to keep the account. He tried to borrow money from me by cheque in his name (Rs. 104000/-) and he promissed me to pay me back within 2-3 months and he have not returned but he again borrowed Rs.30000/- and have not returned. Then he took some cash also from me with a wrong signature on the back side of the voucher and writted in his language that, he received this cash. Previously he have taken a cheque of Rs.160000/- in his name which was supposed to encash but I have asked him to not submit to bank verbally and requested to return me the same and every day he was saying that, the cheque was missing and I will try to trace it but it was not traced and I have stopped the cheque payment.
When he was not returned my given money he tried to threatening to submit the cheque and file case against me if I have not given him the given cheque amount again. I have not responded to his voice but he submitted the same to bank and he sent me notice through Advocate and the case is still running.
But I just want to know that, if there is no liability to him from my side and my money is with him then is it valid this case against me of 138 NI Act?
I would like to receive a very good advise from you people as now the 313 statement is also over and from next date the evidence want to show.
Please advise me in this regard.
Manu Joseph
