Legal Question in Banking Law in
i have applied for a personal loan from a private bank. Apart from other documents bank is asking for a undated cheque for security. My question is, can the bank ask for an undated cheque legally ?
V.Agrawal
Asked on 2/07/11, 12:38 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
They can ask the undated cheque for the amount of EMI or for repayment on the due date.
It can't be called illegal.
Answered on 2/07/11, 8:16 pm
Related Questions & Answers
-
2years backdue to satyam shares free fall. due to free fall i have loss more than 4... Asked 2/05/11, 9:56 am in India Banking Law
-
Can court issue awaarent to arrest somebody using a cell no. which was used by... Asked 2/05/11, 7:56 am in India Banking Law
-
My father was died in 2006 and had a loan of rs 700000/- from idbi bank ,they filed... Asked 2/05/11, 2:58 am in India Banking Law
-
Is the legal heirs of the deceased guarantor held liable to repay the loan in case... Asked 2/04/11, 2:54 am in India Banking Law
-
My Neighbor has taken rs 68,000/- from me and he had issued me the cheque of the... Asked 2/04/11, 2:30 am in India Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
