SD (manager) 19 May 2014

Cheque dishonour-section 138 and 141

Hello

I have a given a loan to one of the company director (on his name) through my personal cheque and he issued me 2 cheques of the company with out date to support the transaction.

As per the verbal understanding, he was supposed to pay me the principal amount and interest within 2 months. Now after almost one year he is not returning the principal amount and interest except paying 10% of the total amount during one year.

I have all the text message and witness for this transaction (director brother-in-law and my friend) to support.

I would like to follow the correct procedure to file a criminal case in this regard.

Please note I issued a cheque to Company director name personal account and he has issued me 2 cheques of the company with his signature on it as director. The other director of the company is his father.

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2 Replies

adv. rajeev ( rajoo ) (practicing advocate) 19 May 2014

Present the cheques for collection. If they returned unpaid then issue legal notice and file a criminal complaint u/s 138 of NI Act.

Contract your lawyer because it is technical case.

Omprakash (Nil) 25 May 2014

Hello,

M/S Neesa Leisure Limited issued Post Dated Cheques towards interest of Fix Deposits made with them by me and my wife. Both cheques deposited in our respective Bank accounts on due date 31st. march,2014 in other city as I was out of town. Both the cheques are dishonoured with the reason given " OPENING BALANCE INSUFFICIENT."

When I reached to my town on 7th april,2014 I find a letter of dated 15 th march, 2014 from company for not depositing the cheques due to financial crunch in the Company and they are re structuring the payment schdules with additional interest for delayed period.

Many times company officials contacted in person as well as by phone but no positive response and till date no payment towards interest due of 31st. March received from them.

I want to ask with this forum whether a legal action is possible against company as their cheques are dishonoured due to insufficient OPENING BALANCE. Please advise.

OMPRAKASH

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