Online Copyright Registration in India

Protect your creative work
Books, Songs, film, websites, Software, painting, fashion Design etc
Call now: 09891244487

Ask Our legal Experts, on issues related to Divorce

File Mutual Consent divorce right away

Call at ph no: 9650499965
Search On:Laws in IndiaLawyers Search

To Appeal before CIC - Central Information Commission
For Filing and Hearing contact: Choudhury's law Office
Ph no: 9873628941

Poll

my friends father is doing a business and he while doing business because of his improper business ideas, he took money from known people in lakhs and from some people he took around 25 lakhs and paying 6 rupees interest monthly. while he was taking money

no option
0 (0%)
no option
0 (0%)

Total Members Voted: 0

Author Topic: Issuing Blank Cheques as a Security to private un licenced lender  (Read 837 times)

0 Members and 1 Guest are viewing this topic.

Offline naveenjpt

  • Newlaw
  • *
  • Posts: 1
  • Karma: +0/-0
  • Welcome to legal Service India - law forum for free legal Information
    • View Profile
Issuing Blank Cheques as a Security to private un licenced lender
« on: September 06, 2014, 03:15:41 AM »
my friends father is doing a business and he while doing business because of his improper business ideas, he took money from known people in lakhs and from some people he took around 25 lakhs and paying 6 rupees interest monthly. while he was taking money he gave them blank cheques . now his business is fully down and unable to return the money he had taken . now can he pay insolvency petition as he is not having any property and what happens if those blank cheques were used in wrong way. if we write the details of the cheques issued in ip notice and submitted to the court will those cheques have any life ??? please help me with your advise :'(

Offline advJitu

  • Jr. Legal Expert
  • **
  • Posts: 66
  • Karma: +4/-0
  • I'm Advocate Jitu, Champion - Company law in India
    • View Profile
Re: Issuing Blank Cheques as a Security to private un licenced lender
« Reply #1 on: December 06, 2014, 02:50:58 AM »
they person has no money than what if anyone fill ups 1 crore and submits to the bank, naturally the will not be honoured.

declaring insolvency won't be sufficient, those whom he woes money won't spare him for sure as he has taken huge amount.
he has to find his own solution there is no legal solution to is stupidity

Advocate Jitu, Champion -
Company law expert from Mumbai City

 

File a Consumer Complaint
Property verification
Call: 9873628941
 

Lawyers in India - Listed city wise Mumbai
Bangalore
Pune
Pondicherry
Jaipur
lawyers in London
lawyers in Birmingham
Chennai
Allahabad
Ahmedabad
Jodhpur
Indore
lawyers in Toronto
lawyers in Sydney

Cochin
Lucknow
Ranchi
Thane
Janjgir
lawyers in Milan
Johannesburg

Delhi - New Delhi
Chandigarh
Surat
Nashik
lawyers in New York
los Angeles
Kolkata
Hyderabad
Rajkot
Nagpur
lawyers in Dhaka
lawyers in Dubai

Copyright Registration

Ph no: 9891244487

For Mutual consent Divorce in Delhi - Ph no: 9650499965

Home | Bare Acts | Law Forms | Supreme Court Judgments | Legal Advice | Lawyers | Submit article | Sitemap | Contact Us

legal Service India.com is Copyrighted under the Registrar of Copyright Act ( Govt of India) 2000-2016
Get Free legal Advice here from top notch lawyers in India