Banking,regaring bankers cheque
V.V.RAMDAS
(Querist) 29 July 2008
This query is : Resolved
Dear Sir,
My client wanted to deposit some amount in his brothers loan account of a Bank through banker's cheque as per agrrement between two brothers but suddenly the younger brother played fraud in the agreement for which my client did not deposit the said Banker's cheque, obtained from bank earlier.The cheque was in favor of M/S ----Traders, Prop.X.
Subsquitly after some days requested the Bank to cancel the Banker's cheque and return back his mony.
Let me know whether my cleient is entiled to get back the said amount.
yors faithfully,
ramdas2k2.
Srinivas.B.S.S.T
(Expert) 29 July 2008
Yes your client is entitiled to get back the amount. Bankers cheque is equivalent to Demand Draft. Where you obtain the instrument after paying the amounts to the banker. Ofcourse the bank will deduct the commission charges tell your client to produce the original bankers cheque and request for a cancellation of the same.
V.V.RAMDAS
(Querist) 03 August 2008
Sir,
Thanks for your valueable advice.
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that is friend.
