Apni Law Staff asked 1 year ago
I’m a commission agent (kaccha arthia) in Ladwa, Kurukshetra, Haryana. Two years ago, in 2014-15, I sold paddy worth ₹10 lakh to a limited company in Delhi through their buyer in Ladwa. The company issued three checks of ₹3.3 lakh each on July 8, 2016. Two checks from Corporation Bank bounced due to insufficient funds, and one from ICICI Bank bounced because the account was blocked due to an NPA declaration. My check date was July 28, and a check bounced in May due to insufficient funds. When I checked the company’s bank account, it appeared they issued a new check after an earlier one bounced, indicating fraudulent intent. What legal options do I have? Can I approach the National Company Law Tribunal as a creditor and pursue company liquidation?
Best Answer
Apni Law Staff answered 1 year ago
You have multiple legal options. You can file a criminal complaint against the company under Section 138 of the Negotiable Instruments Act for the bounced checks. You can also approach the National Company Law Tribunal as a creditor, seeking company liquidation under the Insolvency and Bankruptcy Code, 2016, based on the unpaid dues and evidence of fraudulent intent.
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