MD Gets One Year Jail In Cheque Bounce

New Delhi:  It is a warning for the peoples, who use to issue cheques with different intentions  & are needed to be careful in future.

A Delhi court has awarded one year jail term to Prakash Industries Ltd's Managing Director in  cheque bounce cases and directed him and the firm to pay Rs 10 crore each to two Sahara group companies.

The convicted company had handed over cheques to pay back the money. However, these got dishonoured and both the complainant companies filed cases in this regard, which had given a loan of Rs 5 crore each to the firm, through him, in May 1996.

 

 

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