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Taken a loan from one person 4 year ago for business purpose
05-Oct-2023 (In Banking / Finance Law)
I have him interest per month 10000 interest I fail in business last 1 year I have gave him a cheque that time now he thrast me that he Bourne the cheque and case on me and I have no money wwhat can I do
In terms of Section 138 of the Negotiable Instruments Act, Cheque Bounce is a criminal offence when the cheque is given with a promise to pay any legal liability. The Act also prescribes for punishment of the said offence, if proved, both penalty and imprisonment.
However, there are several exception to the same, based on circumstances and factual aspects of the case, in purview of several judicial pronouncement of the Hon'ble High Court of Bombay and Supreme Court of which one bonafide person can take defence.
However, there are several exception to the same, based on circumstances and factual aspects of the case, in purview of several judicial pronouncement of the Hon'ble High Court of Bombay and Supreme Court of which one bonafide person can take defence.
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Adv. Shambhu Mahato
Kolkata | 25+ Answers
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