account payeed crossed cheque

AMIN M KESHWANI (Querist) 24 September 2009 This query is : Resolved
I am an Indian. I had issued four crossed account payee cheques canceling bearer words in favour of ICICI Bank Limited. I had given the said security cheques to an agent of ICICI Bank against proposed personal loan who turned out to be a fraud person. He misused two cheques and added his name, account number after the words ICICI Bank Limited. and deposited in his ICICI Bank a/c with Rs.11200/- on one cheque and Rs.8000/- on another cheque. Both the cheques were debited from DCB bank a/c on 18-6-09 and 20-6-09 respectively. Remaining two cheques were stopped by me.
Subsequently, I obtained a photocopy of those two cheques from DCB clearing department which clearly showed that his hand writings were completely different from my handwritings. On enquiry with ICICI Bank, I came to know that he is neither a staff of ICICI bank nor a loan account holder of ICICI Bank. He is merely a customer of the bank. I had written a full stop after the last words Limited. and it was clearly visible. I did not put a line after the words Limited. because the bank from whom I was to get the personal loan would require it for writing my loan a/c number. My intention was to give it to ICICI Bank for loan purpose only and for no other purpose. If my intention was to give the amount to any person, I would straightaway write his name. I will never write the name of the bank first and then the name of the person. Even in the case of dividends received from companies, they first write the name of the payee (shareholders name) and after that they add bank name and bank a/c number of the shareholder.

My question is – Was ICICI Bank right in crediting the amount to its customers account when the first name written on the crossed account payee cheques was of ICICI Bank Limited. ?
Does it matter if first name is of a bank or of a customer? Because I am under the impression that this amount can be credited only in ICICI bank a/c OR any other a/c which is under the control of ICICI bank such as loan a/c and it cannot go to any of the customers a/c of ICICI Bank.
Please advise me as to whether I can claim the loss of Rs.19200/- incurred to me from any of the two banks mentioned above?
riven

Follow Query

Report Abuse

Raj Kumar Makkad (Expert) 24 September 2009
Your,s case is very interesting. You are expected to first verify the identity of the person to whom you are handing over cheques claiming himself as employee of a bank. You failed to discharge your duty, however, you can file criminal case under section 420/467/468/471/120 B IPC against the persona making fraud with you along-with ICICI Bank. FIR can also be got lodged or criminal complaint can directly be filed before local magistrate.riven