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Can a case be filled if the issuing bank has shut down operations
28-May-2023 (In Cheque Bounce Law)
Your Content I had given security cheques to ICICI Bank for a loan which is now defaulted? Cheques were of RBS (The Royal Bank of Scotland) Bank which is now closed in India! Important to note here is that, I never closed the account myself. Infact the bank closed down its operation, I have supporting emails, and there are several news articles from Times Of India, Hindustan Times stating the same, that bank is closing down its retail operations. Can those cheques attract 138 NI Act If presented? And Bank was operational when the cheques were given to ICICI Bank
Yes, under the scheme and object of 138 NI Act, even if account is closed bcoz bank is closed , it would still attract 138 proceedings if ICICI presented the cheque and get bounced, they will issue notice and u have to pay in the notice period and if u don’t pay in that period case is maintainable against you.
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Adv. Vikram Vishal Minhas
Delhi | 25+ Answers
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no, , bank closed is not covered under section 138 of NI act. but you have to face trial or civil case for recovery . you can take appointment with us and get assisted in the matter . we can handle your case as remedy available as per law
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Adv. Alok Rattan
Delhi | 100+ Answers
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