Legal Question in Banking Law in India

Hello Sir,

I bought a flat in pune and taken home load from Axis bank Pune, I have given a two post dated (ICICI bank ) cheques (Rs. 50,000 respectively )to builder as down payment. While making agreement we mentioned these cheque number on it.

Now the issue is one the check is cleared and other cheque is bounce due to date /signature mismatch.

Now the axis bank says u have to clear that bounce cheque then only we'll disburse your loan amount. i am ready to give another cheque to builder but we can't change it on agreement

is there any way we can solve this problem. ple help me.

Rahul L.


Asked on 12/03/09, 4:46 am

1 Answer from Attorneys
J. Radhakrishnan independent Practice

Yes you have to clear the 2nd bounced cheque given as advance to the builder. The Bank is in order in ensuring that whatever amount is shown in the agreement as advance paid by you is really paid.

Read more
Answered on 12/03/09, 10:01 am


Related Questions & Answers

More Banking Law questions and answers in India