Cheque endorsed as "oudated"
AAK
(Querist) 03 December 2013
This query is : Resolved
Dear Experts
Cheque Dt: 20/08/2013 drawn on Corp.Bank at Mysore.
Cheque presented on 14/11/2013 at XYZ bank, Mangalore.
Cheque was retured with an endorsement as "Outdated".
The XYZ Bank now claiming that the cheque has no reached the Corp Bank at Mysore within its validity, hence returned as "out dated".
Whereas the RBI notification specifically states that the chq need to be presented within validity period of 3 months. The same has been done. I want to know whether the stand of the bank is correct? can based on this chq complaint u/s 138 can be filed?
http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=6805&Mode=0
BAALASUBRAMANNYAMM
(Expert) 03 December 2013
Here the bank committed mistake. If you want to defend, you can send a notice to the bank, asking them to honour it, in case if you re-present again. Failing which, you can made a notice to the RBI also. Because of the said reason, you have no right to file a case against the drawer of the instrument.
Rajendra K Goyal
(Expert) 03 December 2013
These days mostly outstation cheques are cleared through local CBS Branch of all Banks or trough National clearing. Delay in this process is minimum.
You can approach the drawer of the cheque to give another cheque in lieu of previous cheque.
You can send notice to collecting Banker and the payee Bank for wrongful dishonor of cheque claiming damages.
Raj Kumar Makkad
(Expert) 03 December 2013
The action of the banker is wrong and illegal for which a demand of due compensation can be made.
