Legal Question in Business Law in India
i ,darshan jain from maharashtra ,india. doing buissness of distribution of micromax mobiles.. my turnover is 40 cr in a year,.
but now i got loss in bussiness, and having outstanding of rs. 40 lacs with company.
I am ready to do partial payments to company but they are not geeting agree. they have my blank cheques as security and now treatning of sec.138 .. and legal actions . i beg them for partial payments but not ready ...please advise me
2 Answers from Attorneys
you may ask your lawyer to get the case referred to mediation cell.
You send legal notices to the company stating not to present the blank cheques given to them as security. This will prevent filing of further cases under NI Act. Regarding the cases already filed ask your lawyer to refer the matter to mediation cell or lok adalat and try to settle it amicably.
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