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New cheque cts-2010

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This query is : Resolved

Sateesh (Querist)

07 February 2013 If a person is holding post dated cheques for selling his property and now if after April'2013 the old cheques leaves wont be valid and only new cheque leaves (accordance to CTS-2010) are to be used then how can the person deposit the cheques when the due date comes.
Can he deposit the old cheque leaves or once again need to collect new cheque leaves from the buyer?

CA Gopal Somani

CA Gopal Somani (Expert)

08 February 2013 RBI said it may be noted that the residual non-CTS-2010 Standard cheques that get presented in the clearing system beyond this extended period will continue to be accepted for the clearing but will be cleared at less frequent intervals, it said...
Please check the following link :-

https://timesofindia.indiatimes.com/business/india-business/RBI-extends-deadline-for-issuance-of-new-standard-cheques-by-3-months/articleshow/17615755.cms

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