Legal Question in Banking Law in India

I have initiated sec 138 proceedings against a Pvt Ltd firm for Cheques bouncing who in turn had raised allegations of supply of defective material on me as soon as he had received my lawyers notice. Now due pressure from from his bankerto settle the matter, he has come to settle my matter and has agreed to make 25% payment immediately and rest in six months for which he will issue new cheques and enter into a agreement for assurance of future payment. What kind of aggrement be binding on him to make the payment in future and not default again and what terms and conditions should be there in the agreement to make him liable in future


Asked on 10/14/09, 11:53 am

4 Answers from Attorneys
Seshadri Srinivasan www.lawconcern.com

Your lawyer handling cheque dishonour case will be able to assist you.

email: [email protected]

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Answered on 10/14/09, 8:47 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

better accept the pay order or draft in stead of cheques. they may again bounce and again you would have to go through the same process.

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Answered on 10/15/09, 12:27 am
J. Radhakrishnan independent Practice

better have it drafted and settled by your lawyer who handles your case.

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Answered on 10/15/09, 11:41 pm
Pravin Vaidya Independent

Based on short information supplied by you Guidance/sdvice cannot be given. Please submit all the details by email or seek assistance of the lawyer already engaged by you

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Answered on 10/22/09, 10:39 am


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