Legal Question in Banking Law in India
I had issued a cheque to a SBI collection agent for 200000 towards CC payment of SBI. He issued me a receipt. However in 2 hours I realized that the cheque will not be honoured as my loan amount wasnt processed privately. I informed them immediately not to deposit the cheque.
They still went ahead and deposited it which bounced due to insufficient funds.
Today i get a call saying they will
initiate sec 138 against me. Is it my fault that they deposited the cheque despite saying not to deposit it.
what should be my next course of action. please advice.
Asked on 8/28/17, 5:53 am
1 Answer from Attorneys
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