NI act

Corporate & Other Laws

abhinav draws a bill on charan. abhinav endores bill to sujith by writting sans recourse. sujith endorses to lohith. lohith endorses bill to shashank. shashank endorses bill to abhinav [bill came back]. abhinav endorses bill to imdad. on payment date charan makes default. from whom imdad can collect bill amount. can imdad collect bill amount from abhinav[ who had returned sans recourse and gave to sujith]

lohith perumalla

CA Inter

★ 8K+

04-May-23 08:06

443

Answers (1)

Imdad can collect payments from prior parties (indorsers ) but not from Abinav , who issued sans recourse indorsement, so he is not liable

Sajeetha R

CA Final

★ 46K+

04-May-23 08:20

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