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Director of a pvt ltd company issued a cheque against loan taken on his personal assurance he mentio
30-Sep-2023 (In Recovery Law)
Director of a pvt ltd company issued a cheque against loan taken on his personal assurance he mentioned at the back of the cheque "The cheque is given for future commitment & should not be encashed without consent".The cheque was deposited & got dishonoured stating " Funds Insufficient" .Later upon inquiry , it was found that the company's name was changed few years back . He continue to be the Director in the new company with few new Directors.Request to understand the various possibility of recovery & any crpc/ ipc sections.
firstly if the cheque is dishonoured it's advisable to issue a notice under section 138 of the negotiable instruments act.
the noting at the back of the cheque doesn't amount for you to not encash it...the cheque was issued with the sole intention that the drawer of the cheque is under the knowledge that the cheque will be encashed someday..
the noting at the back of the cheque doesn't amount for you to not encash it...the cheque was issued with the sole intention that the drawer of the cheque is under the knowledge that the cheque will be encashed someday..
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Adv. Garima Anil Mehrotra
Mumbai | 500+ Answers
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