Legal Question in Criminal Law in India
Cheque bounce
I'am living in Bangalore running a finance company.
I had given three blank cheques to one person for the security of amount of Rs 8 lakhs. I have paid the intrest for 4 years of 2.5% every month. Due to some financial crises iam unable to pay the intrest form past six months.
Now iam seeking some time for the repayment. Person is not intrested in giving time he had bounce the cheque for 30 lakhs in different names of Rs 10 lakhs each and given lagal notice. Please help me how do i solve the above problem
3 Answers from Attorneys
Re: Cheque bounce
YOU MUST FIRST OF ALL GIVE PROPER REPLY TO THE NOTICES GIVEN TO YOU TAKING ALL NECESSARY DEFENCE IN THE MATTER, YOU HAVE TO BE VERY CAREFUL WHILE YOU REPLY TO SUCH NOTICES. IF NEEDED PLEASE CONTACT IN PERSON AT MY ADDRESS WITH APPOINTMENT ON MOBILE ; 09426101233 OR ON PHONE
Re: Cheque bounce
Dear Gentleman:
Issue of bouncing of cheque is very technical. In fact, your problem suggests looking at the documents, especially who is the holder of the cheque, the payee and drawer and finally who sent the notice to whom? In case you simply want time, you may make the payment within 15days of receipt of the notice or else the cause of action arises. Though as per law, the offence is complete once the payment of the cheque is not made within 15days of the receipt of the notice, the courts had been liberal in accepting the payment of the bounced cheque on the first hearing itself and compound the offence.
Bhushan Arya
Re: Cheque bounce
In view of presumption in favour of holder of a cheque, burden shall be upon you to prove that the blank cheques were issued as security only and not towards repayment of legal debt/liability due and holder was not entitled to write any name or amount thereon and present the same for encashment. Further, if you are in a position to prove these facts, you can also initiate a prosecution of criminal breach of trust and other offences against the person who misused the cheques.
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