Legal Question in Banking Law in India
Sir, In Banking, under CTS scenario, if the truncated cheque is also send physically to the drawee bank(paper to follow), then who is responsible if the cheque is a fraud or forged? Since the presenting bank has send the physical cheque to the drawee bank, is the presenting bank still responsible?
Asked on 7/12/13, 5:58 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
If the presenting bank which is the collecting bank has acted negligently or in bad faith it will be liable.Otherwise not.
Answered on 7/12/13, 6:04 am
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