Legal Question in Banking Law in India
A Fraud happen due to bank mistake
Bank cashier pay the amount to an unknown person of Rs.4,95,000/- without giving any information to the proprietor.
So please tell me what is the rule of bearer cheque payment.
Asked on 1/01/16, 11:01 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
02.01.2016
Dear Sir / Madam,
It is at the discretion of the Bank and it is not mandatory to ask the bearer to produce and verify his / her identity and note his / her mobile number on the reverse of the cheque. So the Bank is not legally liable to give the bearer's information to the proprietor.
Regards,
Answered on 1/02/16, 9:40 am
Related Questions & Answers
-
My brother in law forged my sister's signatures on her SBI Cheque and transferred an... Asked 1/01/16, 5:24 am in India Banking Law
-
Sir, I was in a partnership firm. My partner's son and daughter had two different... Asked 12/20/15, 4:10 am in India Banking Law
-
A customer has a proprietorship firm and he has cash credit account in a bank. Now... Asked 12/19/15, 10:52 am in India Banking Law
-
Sir, I had purchased a demand draft from a nationalised Bank duly endorsed "... Asked 12/18/15, 4:18 pm 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.
