I had given a loan to someone on trust and received cheques for the same, now I am in thought what if he filed a petition for insolvency,. Loan is given for personal purposes.
What remedy available to me? What should i do?
Anil Khatri 04 October 2024
I had given a loan to someone on trust and received cheques for the same, now I am in thought what if he filed a petition for insolvency,. Loan is given for personal purposes.
What remedy available to me? What should i do?
T. Kalaiselvan, Advocate (Advocate) 04 October 2024
The cheque bounce case under section 138 NI act can be filed against him.
The cheque bounce case will not be abated even if he files an insolvency petition to absolve him from his liabilities.
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