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PDC maturity and NI act applicability during lockdown


07-Apr-2023 (In Criminal Law)
I have invested 10 Lakhs in Karvy ICD and I have PDC dated 12th April 2020 for the same amount of 10 L. I had received last quarter interest payout but skeptical on principal amount considering they are in a mess right now. Also, the timing of cheque maturity is wrong considering lockout and its further extension. Now please suggest what to do? 1. Can I submit the cheque and take a chance of getting it cleared? 2. If it gets bounced, can I resubmit it after 1 month or so? 3. If lockdown extends longer, anyway can I file criminal case as per NI act during a lockdown?
Answers (2)

Answer #1
587 votes
You can submit the cheque through bank on the date mentioned in bank if the same is dishonored you can present it as many times as you want within the day of validity of cheque. You can file civil and criminal case under NI Act. Feel free to contact me
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Advocate Swarnarka Chowdhury

Adv. Swarnarka Chowdhury

LawRato Mysore | 400+ Answers
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Answer #2
652 votes
Hi hi as you have already invested huge amount in Karvy Finance but fortunately you have received a post dated cheque hence you are safe but deposit the cheque within 3 months from the date of execution of the instrument I suggest you to deposit at the earliest.... incase if the cheque is been bounced you need to give him a legal notice within 15 days from the receipt of dishonour of your instrument thereafter you need to give 15 days time to reply the legal notice reply the legal notice during this lock down you file... In case any clarification message us
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Advocate Joseph Jojy

Adv. Joseph Jojy

LawRatoMysore | 50+ Answers
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