Legal Question in Banking Law in India
stop payment
A party deposits cheque after verbal agreement via broker for purchase of property. Then the cheque gets stopped. What is outcome of this?
Asked on 12/13/08, 11:45 pm
4 Answers from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: stop payment
Cancel the transaction and foreign cash, if any, received from buyer. The cheque amount may not be recovered.
Answered on 12/14/08, 8:01 pm
Homi Maratha
N.N. Maratha & Co.-Advocates
Re: stop payment
Transaction stands cancelled.
Answered on 12/15/08, 3:41 am
Nasir Butt
Nasir Law Associates
Re: stop payment
Already replied.
Answered on 12/15/08, 8:51 am
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
Re: stop payment
A case for chq dishonour u/s 138 Ni act can be filed
Answered on 12/14/08, 8:36 am
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