Q: A company is liquidated or has filed for liquidation and there are PDCs jointly signed by any of the signatories [company employees]. Advise if the joint signatory is still liable… A: Signatories will still be criminally liable for the bounced cheque. The criminal case can be made within 3 weeks…

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Liability for bounced cheques during company liquidation

If a company is liquidated or has filed for liquidation and there are PDCs jointly signed by any of the signatories [company employees], then please advise if the joint signatory is still liable for such PDCs (which have bounced, but no case is filed).

Hari Wadhwana

Al Nassar Advocates & Legal Consultants

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11 Sep 2018, 18:54

Dear Sir/ Madam,

Thank you for reaching out on your query.

Please note that the signatories will still be criminally liable for the bounced cheque. The criminal case can be made within 3 weeks from the cheque bounce.

I trust you will find this appropriate. You may get in touch with me on 052 9495731 or email on hari.wadhwana@gmail.com for further queries.

Regards,

Hari Wadhwana

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