One of my relative was working in pvt. ltd company. It had 3 directors - promotor , his wife & one more person. The other person retired as director they wanted some known person as a director so they took my relative as director. He did not made any investment. He had only 1 % shares on his name.
The company used to take deposits from people in the form of pref shares. MD issued post dated cheques to many depositors signed by him alone without consent of other 2 directors which bounced due to lack of fund & company did not had funds to pay those depositors. Some of them filed complaint under 138 against all directors & company & some filed FIR. MD was taken to judicial custody.
My relative for no fault of him has got into trouble. He & his family members too had invested in the company as depositors & they did not get their interest for past 3 years & neither their money. Being working as director in company he had hopes that company's position will improve & he & his other relatives will get money back.
Now other depositors are also registering FIRs against him. I want to know
1. can police FIR be lodged without investigating? or asking the person to be accused his version.
2. The cheque bounce cases are more than 18 months old. Can FIR be lodged after 18 months for 420?
3. The company has gone into liquidation couple of months back. Will this make any impact on the cases?
4. What steps my relative needs to take to come out of this?
Can any expert guide?
Shrinkar
