sec 269 SS
This query is : Resolved
30 October 2009
MR A HAS TAKEN A LOAN FROM MR Y . BOTH HAVE BANK ACCOUNT IN THE SAME BANK. LOAN AMOUNT IS TRANSFERED FROM THE BANK ACCOUNT OF Y TO THE BANK ACCOUNT OF A. NO CHEQUE WAS ISSUED BY Y FOR THIS TRF. AMOUNT WAS TRF THROUGH INSTRUCTIONS TO BANK BY Y THROUGH A LETTER FOR SUCH TRF.IS IT A VIOLATION OF SEC 269 SS FOR MR A BECAUSE HE HAS ACCEPTED THE LOAN WITHOUT ACCOUNT PAYEE CHEQUE.PL ANSWER WITH MATERIAL
30 October 2009
Dear,,
I would like to confirm that if trff amount by an account payee cheque that is use of nego instr,,,,so this is also a negt instrument that we say can hundi,,,,,
I would like to confirm that if trff amount by an account payee cheque that is use of nego instr,,,,so this is also a negt instrument that we say can hundi,,,,,
30 October 2009
This is not violation of section 269ss.
31 October 2009
I don't think this is a violation of SEction 269SS. Basic requirement is that it must have been routed thru' bank where the payer and payee are properly identifiable.
31 October 2009
No violation of Section 269SS
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