So I bought Mustard seed from some supplier and I gave him 4 undated cheques worth 11 lacs each as a security assuming he would supply me continuesly . Mustard seed was bought in GST and the GST value of Mustard seed is 33.50 lacs. I made payments of 3.70 lacs via bank transfer before the date on cheque and 28 lacs in cash for which I have cash vouchers and 2 lacs after date on cheque but before cheque bouncing and he did not endorse any cheque for part payment .
Is it possible to club all 4 cheques and show legally enforceable debt was less than 44 lacs? Is it is possible that the court disallow cash transaction although in agri trade cash payments are allowed as we have to.mainky deal with farmers.
Since there was part payment after date on cheque and before bouncing of cheque . Will that part payment help me with all 4 cheque cases or just one?
I know part payment done after cheque date but before bouncing if unendorsed does not attract section 138 but what in case of multiple cheques by the same party within the same period.
Someone kindly give me some guidance . I am in deep trouble
