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
Most certainly. Yes.
Definatly Bank can held responsible. Bank will bear the charges in this case. If bank refuse to reverse the charges you can certainly approach to "Banking Ombudsment Deptt."
:)cheers:)
| Originally posted by :CA Prakash Somani | ||
| " | Definatly Bank can held responsible. Bank will bear the charges in this case. If bank refuse to reverse the charges you can certainly approach to "Banking Ombudsment Deptt." :)cheers:) |
" |
bank is ready for reversing the charge, but crdit card company is not ready for reversal of Rs. 500 as penality, can we book bank under negligence of service and sue them
Ya surely you can do that. If bank is on fault than it will reimburse you the incidental charges too. Bcz it all happen on banks default.
Respected Sir
I am A MBA student from pune .I am doing a case study the topic is "in what condition can can refuse the payment of the cheque " .The account may have sufficient funds .can you give me the answer in detail .whether the bank have to give any explanation in such case?
yours faithfully
charudatta date
charudattadate @ yahoo.com
Karia Overseas
Ahmedabad
CA
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