Legal Question in Banking Law in India

My friend has introduced someone to bank to help him opening a account with bank, later on it was found that the person has deposited illegal some cheque on his account and the account was opened with fake/wrong name. Since my friend introduced him, he was also charged for 420,467,468,471,120b. The whole thing came out only after 3 years. The main culprit is in jail, he has given the statement that they don't know my friend, he is not involved and he just helped him to open the account.

My friend just helped a person who was in need, and now he is in custody and finding hard to get BAIL. The bail was rejected from district court and put on supplementary by high court.

We are not getting any clue what can be done.

Any useful advice will be appreciated.

Regards,

Dinesh


Asked on 7/30/13, 9:28 pm

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

31.07.2013

Dear Dinesh,

To absolve your friend from the charges levelled against him, you should take recourse to the fact that the bank ought to have ensured compliance of all KYC norms prior to opening of the A/c.

Regards,

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Answered on 7/31/13, 1:43 am
J. Radhakrishnan independent Practice

Advice Your friend to file a petition in the High Court under Sec.482 of Code of Criminal Procedure to quash the complaint against your friend.

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Answered on 7/31/13, 7:48 am


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