Legal Question in Banking Law in India
Sir i have issued a cheque but after one day i stopped cheque payment due to some other reasons and informed to payee .i want to know that canhe file case against me. If so what action should i take. It s necessary to collect my cheque from him?
2 Answers from Attorneys
if you have stopped the payment and the cheque gets dishonoured they you will be liable under sec 138 NIA. you must get your cheque back to avoid future litigation
24.03.2014
Dear Sir / Madam,
Unless you have valid reasons to stop payment, say for instance, you have issued a fresh cheque in lieu thereof, or there is some sort of cheating done by the drawee as a result of which you have withheld payment, the drawee can lodge a recovery case against you under Section 138 of the Negotiable Instruments Act. Yes, you need to collect the cheque back from the drawee.
Regards,
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