Refsual of payment of cheque by bank
This query is : Resolved
Amresh Choudhary
(Querist)
23 October 2008
Dear
One of my friend deposit a cheque for amounting Rs. 30,000 for credit card payment but the bank returns the cheques with remarks insufficient fund, but the account has around five times money (in Lakh), can bank be held responsible for this mistake and any legal action can be taken against Bank,
please clarify
Amrish
One of my friend deposit a cheque for amounting Rs. 30,000 for credit card payment but the bank returns the cheques with remarks insufficient fund, but the account has around five times money (in Lakh), can bank be held responsible for this mistake and any legal action can be taken against Bank,
please clarify
Amrish
Bharath Kumar
(Expert)
23 October 2008
If the funds were parked in the account before the cheque had been received for clearance, you can go for legal remedy.
Amresh Choudhary
(Querist)
23 October 2008
thanks, yes the amount is much more than the cheque before clearance of cheques and still in account,
can u please tell me what is the procedure, what can I suggest to my friend, what may be the likely expenditure and expected time for legal action against the bank.
can u please tell me what is the procedure, what can I suggest to my friend, what may be the likely expenditure and expected time for legal action against the bank.
CMA Jitendra Singh
(Expert)
23 October 2008
During electronic clearence generally it happens ,you have to write ombudusman with all supporting details
Amresh Choudhary
(Querist)
23 October 2008
Dear CMA, my friend have confirmed with the bank, it was not electronic clearing, can u suggest how to book bank against such fault.
S.Srinivasaraghavan
(Expert)
30 October 2008
Appeal to ombudsman
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