Legal Question in Banking Law in India
R presented A with a bearer cheque in A's name. A's father took the cheque to the bank (since A was too young to have a bank account). Instead of collecting the cash, can he request the bank to directly credit it to his own account in the same bank?
Asked on 3/05/12, 2:57 am
4 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
the bearer cheque can be encashed by anyone who is holding the cheque at that time. in case A's name is written, then the same needs to be deposited in A's account and even if A is minor, an account by the guardian can be opened.
Answered on 3/05/12, 4:21 am
Bennet Master of Law
Bennet Raj Law Office
Subject to the cash limit. As well as discretion of Bank Manager.
Answered on 3/05/12, 11:49 am
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