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Court dismissed cheque bounce complaint in recovery case. What to do?


05-Mar-2023 (In Cheque Bounce Law)
I have given the loan to some other company against his shares of the equal amount also i have received the cheques of the same amount of loan. After the expiry of period, the other company has not paid the loan amount so in terms of the agreement we have sold the shares but the value of shares was decreased and total amount of loan's only 10% recovered. THen we also presented the cheques before the banks but they also dishonoured. On filing the complaint before the court the court has dismissed our complaint on the ground that you have realised your amount of loan by selling the shares and thus, dishounouring of cheques does not fall under the purview of 138 of NI Act.
Answers (3)

Answer #1
880 votes
1st of all u have not mentioned complete case. Even though u have not mentioned reason for cheque dishonour, last but not least what kind of advice and advocate u have hired. Consult a better lawyer and
Answer #2
686 votes
You may choose to file suit for recovery and damages against the party provided the same is not time barred I.e. Within 3 years from the cause of action....

Please also examine the Agreement if executed
Answer #3
762 votes
Dear Sir/madam
Please share your agreement document so that better help can be provided.In this case we have to determine whether the complaint is maintainable as the loan amount must be having some interest condition too

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