Puneesh (Trainee) 02 December 2012

Should i stop payment of my cheque ?

I have issued a post dated(after 3 days) cheque to a person, as a friendly loan for short term of 4-5 months. But now it came to my knowledge that the said person is not capable of returning the amount and his intention have gone dishonest. So, should i stop the payment of said cheque or what else precedure should i adopt.

Whether 138 NI Act is attracted against me (in case i issue a stop cheque request) or not. Please suggest me the course of action and the consequences thereof.

Thanks in advance for your consult.

Reply Follow

7 Replies

V R SHROFF (Sr. ADVOCATE Bombay High Court Mob: 9892432152) 02 December 2012

STOP PAYMENT IMMEDIATELY;

Also issue notice to Payee, that u do not intend to lend you any money, and changed your mind, and return the said chq to you , and that you had stoped payment of it.

You also mention , you have no liability to pay to ur frd.

It will not attact 138 ni

CHEQUE BOUNCE (Accused in cheque bounce can be convicted and money be recovered .PROSECUTE PROPERLY. chequebounce1@gmail.com) 02 December 2012

THERE IS LEGAL LIABILITY SO STOP PAYMENT WILL NOT ATTRACT ANY NI 138 CASE WHETHER YOU ISSUE NOTICE OR NOT.

IF YOU MAKE THE MISTAKE OF ISSUING NOTICE IT WILL AMOUNT TO BREACH OF TRUST SINCE YOU ADMIT THAT YOU ARE WILLING TO PAY FOR WHAT EVER REASON.

BUT IT WILL BE A GOOD JOB OF ADVOCATES TO PROVE THAT IT WAS LOAN BY YOU AND PAYMENT WAS NOT FOR ANY LIABILITY.

CHEQUE BOUNCE (Accused in cheque bounce can be convicted and money be recovered .PROSECUTE PROPERLY. chequebounce1@gmail.com) 02 December 2012

SMALL CORRECTION - There is no legal liability so you need NOT worry for cheque bounce., the MOMENT you give notice PRIOR OR AFTER THE CHEQUE BOUNCE you will be trapped with law, advocates, courts and what not........

Puneesh (Trainee) 02 December 2012

ok, now i am confused. Is there any legal liability or not if i stop the payment ?

SANTOSHSINGH. (ADVOCATE sardarsena@gmail.com) 02 December 2012

If you do not want to give loan stop payment and keep quite, no problem at all.

Puneesh (Trainee) 02 December 2012

@ santosh : but what if he presses charges on me ? I am not sure of his intentions any more.

R Trivedi (advocate.dma@gmail.com) 04 December 2012

How did you come to know within a day or two about his intentions ??

Talk him out and take the cheque back asap.

Related Threads

Start a New Discussion Unreplied Threads

Popular Discussion

Should i stop payment of my cheque ?

7 Replies

THERE IS LEGAL LIABILITY SO STOP PAYMENT WILL NOT ATTRACT ANY NI 138 CASE WHETHER YOU ISSUE NOTICE OR NOT.

IF YOU MAKE THE MISTAKE OF ISSUING NOTICE IT WILL AMOUNT TO BREACH OF TRUST SINCE YOU ADMIT THAT YOU ARE WILLING TO PAY FOR WHAT EVER REASON.

BUT IT WILL BE A GOOD JOB OF ADVOCATES TO PROVE THAT IT WAS LOAN BY YOU AND PAYMENT WAS NOT FOR ANY LIABILITY.

SMALL CORRECTION - There is no legal liability so you need NOT worry for cheque bounce., the MOMENT you give notice PRIOR OR AFTER THE CHEQUE BOUNCE you will be trapped with law, advocates, courts and what not........

Leave a reply

Recent Topics

Related Threads

Popular Discussion

Browse by Category