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Insolvency petition filed, can cheque bounce cases be quashed by same
21-Jul-2023 (In Cheque Bounce Law)
I filed an insolvency case as I dont have money and income. I am jobless. But borrowed money earlier to meet my expenses. I had given blank cheques for surity against the borrowing. After filing the Insolvency case and sent notice for insolvency to the borrowers, the lenders bounced the cheques given by me and proceeded for cheque bounce cases as criminal case in the court. My question is as I have filed insolvency, can I approch High court with a writ petition to stop cheque bounce cases as I filed Insolvency case and the cheque bounce cases to be stopped until the judgement for Insolvency is delivered.
Hi, If both the cases are in progress you need not approach High Court now. In cheque bounce case present the documents of insolvency case and argue mainly that you dont ahve money, though willing to pay. If your don`t get justice then appeal to high Court.
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Adv. S.K Prabhakar Shetty
Bangalore | 500+ Answers
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Issuing cheque without sufficient balance in the account is punishable under 138 of NI Act. Even you may declared as insolvent but whatever you have done is unlawful and you have to face the consequences either you have to pay the due or have to go through imprisonment.
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Adv. Rajesh K.S
Bangalore | 500+ Answers
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