What if cheque gets bounced and company is nowhere to be seen

I have got cheque from company for my work.When I put cheque in bank it's got bounce.md of company absconded and sold company property.My case is in court for 10 years.one other person has All ready attach the property for his claim.court has given order that company property selling was illegal.How much time it takes.company md present appear single time .What judgment I can expect.

Answers (2)

347 votes

usually if the property of the debtor sold only with a view to infringe the right of creditors such sale shall be null and void at the application of the creditor under section 9 of the insolvency act and the property is to sold in public auction and the consideration to be appropriated among the debtors

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53 votes

This is M.A RAHEEM KHAN Advocate, From : Hyderabad, @ lawrato.com

Court will issue Non-Bailable warrant against the MD of company in case he was
not appeared before the court, then police arrest him and produce before the court. if you have tenable grounds in your case then court passed the judgement that accused has to pay the amount with interest otherwise punish him with imprisonment or fine or both. For more information regarding your query consult me through this website.

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