Legal Question in Criminal Law in India

I gave Rs 500000-/ to a firm by cheque on 13/4/210 which was encashed on same day. Firm give me a cheque for return of paymentwich was bounced on 1-6-10. I am not registerd financer. Please advice me.

1. Can notice may be issued to firm under section 138 of Negotiable Instrument Act.?

2. can I go to competent court for recovery?

3. Can FIR may be lodged under section 420.?

4.Some people says that without financer lincee no one give payment to any one on interest ,is it right?

thanking you

suresh soni


Asked on 6/13/10, 10:52 pm

2 Answers from Attorneys
VELAYUTHAM RAJKUMAR

you need to send him legal notice within 30 days of bouncing informing dishonor of cheque and requesting to pay within 15 days of receipt of notice. If within 15 days of notice party fails to give you the cheque amount, you may file complaint within 15 days and get him arrested as the matter is considered as non-bailable.

more Details:www.wisomlawfirm.com

Read more
Answered on 6/14/10, 12:26 am
ANURAG TIWARI

it is correct that you may not finance unless you have a valid licence for doing finance business.Now you can show this transaction as friendly loan not as as a commercial lending if you have not executed any agreement.

Anurag-9891406115

Read more
Answered on 6/15/10, 1:13 am


Related Questions & Answers

More Criminal Law questions and answers in India