Legal Question in Banking Law in India
wheather investment of shares bussniess if a cheque is given and which bounce,it attracts section 138 of NI act
Asked on 3/06/11, 11:26 am
3 Answers from Attorneys
Vishwa Arya
Arya & Co.
yes, 138 is made out when the cheque drawn by the drawer towards the liability of the holder of the cheque is dishonoured and the holder issues a notice to the drawer that the cheque has dishonoured and then payment is still not made.
Answered on 3/06/11, 1:45 pm
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
in case the shares are purchased by the broker on the assurance that the cheque would be cleared, the offence is made out.
Answered on 3/06/11, 10:02 pm
J. Radhakrishnan
independent Practice
if the shares are purchased for which the cheque was issued, it will certainly attract Sec.138 prosecution
Answered on 3/07/11, 7:35 pm
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