Legal Question in Bankruptcy in India

Hi Expert,

Can you please advice, in cheque bounce case if accused file 'insolvency petition' and he shows he has no asset. Will he walk away easily from punishment ? Can complainant file 'Civil suit' for money recovery?

Thanks in advance for your valuable suggestions.


Asked on 7/18/16, 4:20 am

1 Answer from Attorneys

Rajiv Gupta +91 9811284735 KarVai Legal Solutions www.karvai.in

the criminal liability u/s 138 may still be fastened even if the accused is declared insolvent. However, need to have more facts for more clarity.

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Answered on 7/22/16, 3:14 am


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