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Security Cheque - Applicability of 138 NI Act
30-Jan-2023 (In Cheque Bounce Law)
Is Security cheque covered under 138 NI Act ? Any references to High Court / Supreme Court judgments for the same ?
yes ,security cheques are covered under section 138 NI act but the only thing which is to be looked upon is whether that cheque is bearing a date on which the debt will become due. Because a cheque should be for an existing debt or liability
with regards
Shasha Jain,Adv
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Adv. Shasha Jain
Delhi | 25+ Answers
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Hi,
To initiate a proceeding under 138 NI Act, the complainant has to establish that the Accused Person had some legal liability to pay a certain amount to complainant. For further information or legal services, feel free to have a word with us. All the best!
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Adv. Sahej Uban
Delhi | 700+ Answers
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Dear client,
if cheques are issued for security purposes and business dealing and transactions are thereafter with the other party and are on record, can't not be claimed under sect.138 NI Act.
pls. rate , put on review.
Thanks
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Adv. Sanjay Kr. Jha
Delhi | 200+ Answers
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