cheque bounce and promicery note
8 months ago
i take debt to my relative 10lakhs in 2016 he transfer online i give 2 promicery note and 2 blank cheque for security purposes. i pay 8lakhs and i losses on bussiness then after 8years he call me and tell to put legal notice is valid 2016 promicery note and cheque has he fill under limitions of 3years he write convenent then he put case on me then i tell the cheque and promicery note was 8years old after ink age test the cheque signature was 8years old and date was 1month ago then what happened to me this case comes under nia act under criminal offences or not
A.Dear Client,
A criminal case under section 138 N I Act can be filed within three months from the date on which it was presented in the bank. Since there is no date on an undated cheque so the person holding the cheque is free to present the same on any date by putting a date on the cheque. The Supreme Court in the case of Sripati Singh v. State of Jharkhand, 2021 SCC OnLine SC 1002, decided on 28.10.2021, held that a cheque issued as security pursuant to a financial transaction cannot be considered as a worthless piece of paper under every circumstance and that there cannot be a hard and fast rule that a cheque which is issued as security can never be presented by the drawee of the cheque. If in a transaction, a loan is advanced and the borrower agrees to repay the amount in a specified timeframe and issues a cheque as security to secure such repayment; if the loan amount is not repaid in any other form before the due date or if there is no other understanding or agreement between the parties to defer the payment of amount, the cheque which is issued as security would mature for presentation and the drawee of the cheque would be entitled to present the same. On such presentation, if the same is dishonored, the consequences contemplated under Section 138 and the other provisions of N.I. Act would flow. In the case of Sunil Todi v. State of Gujarat, Justice D.Y. Chandrachud observed that a security cheque issued for the advancement of a loan would be mature for presentation upon the default of repayment of a loan. Upon dishonor of such a security cheque, the same would lie under the ambit of Section 138. In view of the aforesaid averments of Apex Court, you need to consult with an Advocate for guidance and steps.
A criminal case under section 138 N I Act can be filed within three months from the date on which it was presented in the bank. Since there is no date on an undated cheque so the person holding the cheque is free to present the same on any date by putting a date on the cheque. The Supreme Court in the case of Sripati Singh v. State of Jharkhand, 2021 SCC OnLine SC 1002, decided on 28.10.2021, held that a cheque issued as security pursuant to a financial transaction cannot be considered as a worthless piece of paper under every circumstance and that there cannot be a hard and fast rule that a cheque which is issued as security can never be presented by the drawee of the cheque. If in a transaction, a loan is advanced and the borrower agrees to repay the amount in a specified timeframe and issues a cheque as security to secure such repayment; if the loan amount is not repaid in any other form before the due date or if there is no other understanding or agreement between the parties to defer the payment of amount, the cheque which is issued as security would mature for presentation and the drawee of the cheque would be entitled to present the same. On such presentation, if the same is dishonored, the consequences contemplated under Section 138 and the other provisions of N.I. Act would flow. In the case of Sunil Todi v. State of Gujarat, Justice D.Y. Chandrachud observed that a security cheque issued for the advancement of a loan would be mature for presentation upon the default of repayment of a loan. Upon dishonor of such a security cheque, the same would lie under the ambit of Section 138. In view of the aforesaid averments of Apex Court, you need to consult with an Advocate for guidance and steps.
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A.Dear client,
As per Negotiable Instruments Act, legal notice must be sent within 30 days from the date of cheque bounce. Thereafter within 15+30=45 days from the date of sending the legal notice, case must be filed.
Notice can be given to drawer up to 3 years from date of issue of cheque for instituting a summary suit for recovery of money.
As per Negotiable Instruments Act, legal notice must be sent within 30 days from the date of cheque bounce. Thereafter within 15+30=45 days from the date of sending the legal notice, case must be filed.
Notice can be given to drawer up to 3 years from date of issue of cheque for instituting a summary suit for recovery of money.
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