quesPartner misuses the company cheque.

I am an engineer and started a pvt. ltd company with an investor with he being the director with 60% shares and me with 40% shares. The company account was operated jointly. However some months back i had given a blank cheque and asked him to pay the vendor. However he did not use the cheque and now when there were some issues in the company he misused the cheque and made it bounce by showing a payment of 2150000. I got a notice from the lawyer of the client against whom the payment was made that the company had taken a loan of 2150000 fro his client and we need to return it back within 15 days failing which legal action under Sec 138 will take place.I am very worried as there have been no transactions of this magnitude and don't know what to do. Do I face arrest?

  • ansAs gathered from your query, your company was to make a payment to a vendor of a certain sum but your partner has given the cheque with inflated amount deliberately which has bounced. First of all it is clarified that if the cheque has been issued by the company then if there is any liability, your partner is equally liable in criminal case.

    So it can not be said that your partner has misused the cheque to your prejudice only. As far as an action under section 138 NIA is concerned, primarily there are apparent lacuna, and I suggest you hire a good advocate to look in to it.

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Cheque Bounce Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
  • Related Articles

Consult best Cheque Bounce lawyers in India

Cheque Bounce Lawyers

Advocate Diva Arora Menon

  Nizamuddin East
 Experience: 10 years


Advocate Sunil Kadam

  Fort
 Experience: 8 years


Advocate Prashant Mendiratta

  Lajpat Nagar 4
 Experience: 23 years


Advocate R C Mahajan

  Paschim Vihar
 Experience: 22 years


View all >>

How it Works

Know how LawRato makes legal easier and effortless

Ask a Free Question

Post a question and get free advice from multiple lawyers

Talk to a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly