Legal Question in Banking Law in India
If an employee who is authorized signatory as well issue a cheuqe to a party but due to some dispute with directors he resigns from company and before that he make an stop payment on that post dated cheque that he had issued so in this case who ll be liable.(And he has resign from authorized signatory from bank before due date)
Asked on 4/28/11, 8:33 am
2 Answers from Attorneys
M K Law Associates
M K Law Associates
Hello !
Presuming that the Check issued is from Bank's Account, Bank will be liable. As Employee has signed the said check with an authority given by the Bank and there is no personal interest involve, therefore, Bank have to bear this Liability.
With Regards
Answered on 4/28/11, 3:18 pm
Professor SOMNATH MUKHERJEE
MUKHERJEE ASSOCIATES(Cell +91 9874753359/ 9477781578)
the above answer is correct
Answered on 4/29/11, 9:46 am
Related Questions & Answers
-
Can banks capitalize monthly installment (emi) and monthly interest both amounts for... Asked 4/27/11, 2:26 am in India Banking Law
-
Hii sir., before 1 week a cheque was submitted in canara bank for clearance , the... Asked 4/27/11, 1:44 am in India Banking Law
-
Hii sir, i need ur help A submitt a cheque of B, which was stolen from him;... Asked 4/26/11, 7:57 pm in India Banking Law
-
Hii sir, i need ur help A submitt a cheque of B, which was stolen from him; without... Asked 4/26/11, 3:53 am in India Banking Law
-
Pls suggest what is the risk involved to a bank if it mortgage HUF property Asked 4/24/11, 10:14 am in India Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
