Legal Question in Banking Law in India

I have issued a cheque of Rs. 30000 to one party dtd. 26/01/09. but due to negligence of bank it was presented in my a/c on 24/01/09 & was cleared.

because of this on eleventh hour i had to call other party whom i already issued a cheque of Rs. 200000 to present it after 2 days.

By this act of the bank

1. i had to take favour from that party

2. My credential in the market has reduced.

What type of compensation can i ask from the bank & how ?


Asked on 10/28/09, 6:25 am

3 Answers from Attorneys
Seshadri Srinivasan www.lawconcern.com

You are entitled to compensation. File litigation after issue of legal notice.

Read more
Answered on 10/28/09, 9:05 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Most likely you will end up wasting your time and money on lawyer. Better to stay cool and forget the issue.

Read more
Answered on 10/28/09, 9:08 pm
J. Radhakrishnan independent Practice

while you can choose to file a case for compensation for mental agony and stress, the cost of suing will outweigh what you will ultimately get. Please caution the bank that they shall not repeat this type of indiscretion and leave the matter thereat.

Read more
Answered on 10/30/09, 8:51 am


Related Questions & Answers

More Banking Law questions and answers in India