NPA by Bank
This query is : Resolved
19 June 2021
Our Company having CC and OD account but due to some circumstances our account NPA and bank issue letter to our customer for stop payments which credited another bank.
We are having same bank (which used CC & OD ) another Escrow account and our some customer make payments in escrow account but bank issue a letter stop payments .
It is correct or not bank has issue letter stop payments in escrow account which same bank and same branch.
Request you please give your opinion.
L.D Dharmadhikari
Our Company having CC and OD account but due to some circumstances our account NPA and bank issue letter to our customer for stop payments which credited another bank.
We are having same bank (which used CC & OD ) another Escrow account and our some customer make payments in escrow account but bank issue a letter stop payments .
It is correct or not bank has issue letter stop payments in escrow account which same bank and same branch.
Request you please give your opinion.
L.D Dharmadhikari
19 June 2021
Bank can't issue stop payment letter to your customers. It requires legal backing by a court order.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Value of property in capital gain
- Multiple trade mark
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- LC charges in relation to Asset purchased should be Capitalised ?
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
