Legal Question in Banking Law in India
Can a cheque for amount of ten crore be bounced by bank. Is there any amount limit.
Asked on 3/28/16, 6:05 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
28.03.2016
Dear Sir / Madam,
A cheque of any amount (there is no limit) can be returned back by the Bank if there are insufficient funds in the A/c of the A/c holder(s) (Drawer) or for any other valid reason.
Regards,
Answered on 3/28/16, 10:55 am
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