Legal Question in Banking Law in India
I deposited payorder (of chd)made by "x" bank...i deposited in delhi-anothe bank..say M..bank.Now this M bank had sent the Payorder in their chd branch to get the payorder cleared from X bank(which had issued)..i.e issuing bank..The payorder got lost in transit and M bank ..chd branch cudnot present the same in clearing.......now can M bank on customers behalf give indemnity to Y bank ..to isuue duplicate payorder..pLEASE ADVICE...
Asked on 12/04/10, 11:46 am
2 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
yes, a duplicate pay order can be issued.
Answered on 12/04/10, 9:06 pm
Vishwa Arya
Arya & Co.
but where is Y bank coming from. I thought you mentioned issuing bank and 'x' bank and collecting bank as 'm' bank.
Answered on 12/04/10, 9:52 pm
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