Legal Question in Credit and Debt Law in India

Supplied material on credit. Outstanding were remained un paid since 2008-2009.

Security cheque had been collected. But the company closed down operation as well as their bank account in 2011. I was constantly in touch with the party on phone for the settlement of my due. Some amount has been paid. The major amount is not paid.

How I will recover my money ? Can I use the blank security cheque leaves to draw my dues and present in my bank and if bounced file a suit against the party for check bouncing offence under rule 138


Asked on 3/20/15, 2:18 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

21.03.2015

Dear Sir / Madam,

Yes. You should deposit the security cheque(s) mentioning the total outstanding due amount therein and should they bounce, you should file a recovery suit under Section 138 of the Negotiable Instruments Act, 1938 against the defaulter, within a period of 30 days of receipt of intimation by your Bank of the cheque(s) having bounced.

Regards,

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Answered on 3/20/15, 9:55 pm


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