Hello Sir,
I had given a ch in the name of my own bro's firm for some transaction which did nt materialised and I forgotten to get it back. In the meantime without bringing to my notice my bro had given the same ch to the bank where he was availed a mortgage loan by mortgaging his own prop. Once the bank presented the said ch for colln & it was dishonoured and again the bank put it for colln after 3 months and it got dishonoured. Bank sent a demand notice to me after the second dishonour thro' the counsel and I hv sent a reply thro' counsel that I am nt at all concerned to this and the case is yet for hearing stage.
Sir my query is that
1) Whether the mandatory period for demand notice is 15 days or 30 days (after amendment 2002) after the intimation from bank reg dishonour
2) As I am neither a guarontor nor I hv given the said ch as security, but I had given the said ch for some other purpose to my bro which did nt materialised.
3) Please suggst me reg my defence
Please suggest your valuable suggestions sir
Thanking you sir
