Legal Question in Business Law in India

I have given post dated cheques to my parties, whom i have to pay 13 lacs. Now i am not in a position to pay him his Amount, So what should i Do?? Should i Stop his cheques or i should give notice for not to deposited the cheques


Asked on 12/28/14, 3:52 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

28.12.2014

Dear Sir / Madam,

If you have issued the post dated cheques without writing the date, you can request the parties to deposit the cheque when you inform them to do so. If the cheques are already dated, even if you stop payment of the cheques, you will still remain liable under Section 138 of the Negotiable Instruments Act. if they are dishonoured. I recommend you make the necessary financial arrangements with your bank to ensure that the cheques are honoured when presented for payment.

Regards,

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Answered on 12/28/14, 5:33 am


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