Legal Question in Banking Law in India

I have a salary account in Citibank India and my account no. ends with 86448. My wife also holds s a same type of salary account in India and her account no. ends with 68448. Due to this confusion i have signed a cheque of 6400 INR on my wife's account by mistake and have given it to a person. After a few days that person deposits the cheque in the bank and it hits my wife's account and surprisingly the cheque gets paid for that amount to the payee, instead of being held back for a signature mismatch. Now we have a doubt on the bank's control mechanism in honouring cheques and having a feeling of insecurity in keeping the money in the bank. We have spoken to the bank and someone from the bank's compliance team accepts that it is bank's mistake in honoring the cheque. Can we ask for a compensation/penalty from the bank on these grounds? if so, how much can it be?


Asked on 11/22/12, 10:47 am

2 Answer from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

You have two remedies 1) Criminal by filing a complaint and prosecuting the bank Officials and Consumer to get damages etc. Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.

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Answered on 11/22/12, 10:21 pm


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