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Cheque Bounce law or cheque dishonour
01-Nov-2024 (In Cheque Bounce Law)
If accused transfer his immovable property to his wife after initiation of cheque bounce proceedings u/ s 138 of NI Act.
Is this transfer is fraudulent ? and remedies please
Transferring immovable property to wife is not fraudulent. However, if you've lost your case and the execution is pending when you don't have sufficient funds to pay off and you transfer the property without informing the Court, it may be a fraudulent scenario. Without knowing the actual facts it is quite premature for me to make a comment upon that.
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Adv. Puneet Srivastava
Delhi | 400+ Answers
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No it would be a fraudulent transfer unless untill there Is a stay on transfer of property in any other case. In a Cheque Bounce case accused needs to be bit careful as This Is a criminal case. Do seek a details legal Consultation and engage a lawyer to fight your case.
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Adv. Anubhav Kathuria
Delhi | 500+ Answers
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No its not fraudulent, until there is a lien on the property by the Court.
A transfer is valid as there is nothing which stops from transferring property in the given scenario.
At a later stage it maybe argued that the property was transferred only to avoid possible attachment of property.
That comes at a later stage.
A transfer is valid as there is nothing which stops from transferring property in the given scenario.
At a later stage it maybe argued that the property was transferred only to avoid possible attachment of property.
That comes at a later stage.
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Adv. Kunal Sinha
Delhi | 200+ Answers
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In cases of cheque bounce under Section 138 of the Negotiable Instruments Act (NI Act), if the accused transfers immovable property to a relative, such as a spouse, after the proceedings are initiated, this transfer could potentially be seen as an attempt to shield assets. This is especially relevant if the intent appears to be to avoid liability for paying the complainant in the cheque bounce case
Under the Transfer of Property Act, 1882, a transfer can be considered fraudulent if it is done with the intent to defeat or delay the interests of creditors. Courts may examine the timing and intent of the transfer.
Under the Transfer of Property Act, 1882, a transfer can be considered fraudulent if it is done with the intent to defeat or delay the interests of creditors. Courts may examine the timing and intent of the transfer.
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Adv. Nidhi Mathur
Delhi | 25+ Answers
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If an accused transfers immovable property to their wife’s name after a cheque bounce case is initiated, this can be considered a fraudulent transfer if it’s intended to avoid paying debts or liabilities arising from the case. Here are possible legal remedies:
1. Application under Section 64 of the Civil Procedure Code (CPC): You can ask the court to declare the transfer void if it was made to defeat the rights of creditors.
2. Insolvency Proceedings: If the accused is insolvent and unable to pay debts, you can file for insolvency proceedings, where such transfers can be scrutinized and possibly reversed.
3. Section 68 of the Transfer of Property Act: If the transfer is deemed fraudulent under this section, the court may set aside the transfer to satisfy the claim.
4. Attachment of Property: Request the court to attach the transferred property under Section 421 of the CrPC to ensure it’s available for satisfaction of a potential judgment.
1. Application under Section 64 of the Civil Procedure Code (CPC): You can ask the court to declare the transfer void if it was made to defeat the rights of creditors.
2. Insolvency Proceedings: If the accused is insolvent and unable to pay debts, you can file for insolvency proceedings, where such transfers can be scrutinized and possibly reversed.
3. Section 68 of the Transfer of Property Act: If the transfer is deemed fraudulent under this section, the court may set aside the transfer to satisfy the claim.
4. Attachment of Property: Request the court to attach the transferred property under Section 421 of the CrPC to ensure it’s available for satisfaction of a potential judgment.
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Adv. Jayatee Chatterjee
Delhi | 200+ Answers
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