Legal Question in Business Law in India
Stop Payment of Cheque Or A/c Closed after issuance of cheque is punishable under Act 138b or Not.
What Are Legal actions i can take....
Is it Criminal or Civil
4 Answers from Attorneys
yes, it is punishable in the same manner as is for insufficiency of funds. Procedure is same in as much as one has to issue the notice within 30 days of dishonor of the cheque giving 15 days time to the drawer for payment. If payment comes, fine or else file the complaint within 30 days after the period of payment of 15 days has expired.
it is punishable under sec. 138 of negotiable instruments act and you may also file a suit for recovery u/o 37 of CPC. but u need to prove the debt or liability as well.
Yes it is punishable u/s 138 of NI act.
both civil and criminal action can be taken
both options are suggested by Mr. Rajiv gupta
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