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Time & cost associated for debt recovery from a creditor in nclt
08-Jan-2023 (In Cheque Bounce Law)
Hi,
3 cheques of a creditor bounced in 2019. Now, the creditor is being detailed in NCLT & has stopped all operations. Is it wise to file a case in NCLT for debt recovery ?
Also, highlight the time & cost associated with the recovery.
According to me the best option for a bounced cheque is to file a complaint under 138 NI act and also under 420 IPC. It will be a criminal complaint and it includes arrest and even attachments of property if the creditor fails to make any payment.
Helpful?
Adv. Jitender Singh
Delhi | 1000+ Answers
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hello client as i can see your issues are really important for your company as well . but as the things you have mentioned here is not full . in my view you should file case for recovert . but as detailed and full version of case is nit been mention here so need to knw full case first fir best advice i can give.
Helpful?
Adv. Vishwanath Pratap Singh
Delhi | 1000+ Answers
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Why have you file the case in NCLT.
You must go for the Negotiable Instruments Act, 1881 n this is the best way to recover your debt …it’s has punishment with upto double amount of compensation too …kindly b in touch with us asap ..
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Adv. D. Khan
Delhi | 1000+ Answers
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