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Company wants go in insolvency


30-May-2023 (In Property Law)
We around 40 persons have purchased open spaces for shops and some people has purchased individual shops in mall at Ghaziabad, but not done registry yet, company's registered office in delhi, company has mortgage some area of mall to financier, company has given pdc cheques as per monthly rent now cheques are bouncing from last one 18 months, now what do we?
Answers (2)

Answer #1
988 votes
you can file a criminal case under the negotiable instruments act for bouncing of cheque. you can also go for a civil case for recovery of money which is a summary procedure. you can also approach the consumer forum for the same.
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Answer #2
611 votes
You should file a complaint against the builder in Rera in Greater Noida. Rera is deciding complaints within ninety days and giving relief.
Further you should file complaint under section 138 for bounced cheques. You should do the same on urgent basis in order to be within limitation.
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