Legal Question in Bankruptcy in India

Check bounced and bank has charged under section 138.as the person has nothing to pay.no assets,no bank balance, can bank put him in jail after he files insolvency?if yes..for how long?he is senior citizen and undergoing treatment for various ailments.


Asked on 5/02/11, 9:36 am

2 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

as he is a senior citizen undergoing various ailments, then the punitive measures may not help the bank. the bank may attach his property only.

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Answered on 5/02/11, 9:49 am
Sanjay Kalra Sanjay Kalra & Associates

I differ on this from the opinion mentioned herein above. The punishment u/s 138 NI Act is 2 years of jail or double the amount of cheque or both. It depends on court to give which and what punishment to the accused.

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Answered on 5/02/11, 10:24 am


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