WELCOME TO LEGAL WORLD

WELCOME TO LEGAL WORLD

Friday, October 8, 2010

TIME BARRED DEBT - CHEQUE BOUNCE

LEGALLY RECOVERABLE DEBT, WHICH IS NOT TIME BARRED DEBT - NOT ENFORCEABLE IN TERMS OF EXPLANATION TO SEC.138 . MERE ISSUING A CHEQUE WITHOUT ANYTHING MORE WILL NOT REVIVE A TIME BARRED DEBT AS PER SEC.25[3] OF INDIA CONTRACT ACT AND SEC.18 OF INDIAN LIMITATION ACT . SO WHEN THE CHEQUE WAS BOUNCED NO CASE IS MAINTAINABLE-2010[1] ALD CRIMINAL [BOM.NOC21]14.

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