vey basic dubt

I RECD. A CHEQUE CROSSED 'A/C FROM SOMEONE...BUT I DONT HAVE TIME TO GO TO BANK..SO I WANT TO TRANSFER IT TO MY FATHER.... CAN I DO IT BY PUTTING MY SIGNATURE ON THE BACK OF THE CHEQUE...??IF YES..IS IT SO SIMPLE..?IF 'A/C PAYEE' CAN BE TRANSFERRED SO EASILY....THEN ANYONE CAN STEAL IT FROM ME & PUT MY FORGED sign & transfer THE MONEY....?

Replies (5)

Hai...

A/c Payee cheque can't be transferred jus like that....  Only bearer cheque can be transferred by the above process... A/c payee cheque ll only be credited in the concerned A/c...

 

NO A/C PAYEE CHEQUE CANNOT BE TRANSFERRED BY SIGNING ON THE BACK OF THE CHEQUE.

No Account payee cheque cannot be transfered so easily bearer cheques can be transfered in the above process A/c payee cheque can be cleared only through the bank by credting in the concerned a/c

Hi Surender..

when a cheque is crossed as A/c Payee then also the cheque can be ENDORSED to other person provided the endorsee has an account with some bank. This is the theory and as u said..there is a risk of forgery in this case..so,most of the banks do not prefer to collect a endorsed cheque even if it is a/c payee except in the case that the endorsor's account is also in the same bank . But theorotically, an a/c payee cheque also can be endorsed by mere writing the endorsee's name and signing on the back of the cheque.Only thing is that the payment cannot be made accross the counter but the amount is credited to the endorsee's account.

The case that u have mentioned was exactly the game plan of the famous Harshad mehta's forgery case.So, crossing of cheque only ensures the payment through bank account.

 

 dear shilpa singhal can you explain here harshad mahta's game plan

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details