Legal Question in Criminal Law in
i had an trading account with a stock broking firm,when my account was opened i had given them 5 chqs.(amount was nt written)to purchase shares.but then he had miss-used my chqs.and incurred some losses where as my loss amt.was of only 40000 rs.now the debit bal shown is of 400000.00.my dad had met with an accident so i was in need of funds ,so i had informed the dealer to square off my position but then now after that they had deposited those chqs.they had filled a case against me u/s 138.kindly help me
3 Answers from Attorneys
you will have to contest and prove that there was no liability and the cheques were as security and not towards discharge of liability
you may take the defence and ask them to produce the true accounts. you may not be liable in case they do not substantiate the check amount with their accounts and records.
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