Legal Question in Banking Law in India

A current account of Mr. 'X' is being operated through his Power of Attorney 'Y'. Later, a cheque signed by Mr. 'X' presented through Clearing. Will Bank honour the Cheque?


Asked on 3/27/11, 5:48 am

3 Answers from Attorneys
J. Radhakrishnan independent Practice

Unlessz the mandate to the bank is that the account could be operated only thru power agent and not otherwise, the BANK CAN ALWAYS honour the cheques signed by the ;principal account holder.

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Answered on 3/27/11, 9:07 pm
Aniruddha Pawse Aniruddha.P.Pawse Advocates

generally even when poa is appointed the principal's can still operate the account

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Answered on 3/28/11, 4:30 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

in case the attorney is not withdrawn, the cheque issued by X may not be honored.

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Answered on 5/02/11, 11:33 pm


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