Legal Question in Criminal Law in India
Hi,
Our Family Runs a busiess in partnership where i am the Partner and Signatory. Days Back my Husband Who looks after the business took loan in partnership firm against a cheque of our organisation and the cheque got bounced on the collection day due to insufficient fund The Drawer has issued a notice for payment of Loan only to me that to in my Parents address not at my registered address. Moreover he have not issued and legal notice to other partners.
plz instrust
1) What if i dont pay the amount as we are not in a position to pay?
2) Being a signatory is it only i am liable for the loan in the partnership firm or other 2 partners too?
3) what if the proceedings start.
thanks
Aasma Rama.
1 Answer from Attorneys
Dear client if cheque is signed by u then drawer can file case under sec 138 of n i act against u. U have to appear in court and have to put yr side. For proper discussion call me on 9604349028 or 8446247807
Adv prasad patil
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