Banker's accountability...return of cheques...reg

Anguluri Annappa (Querist) 01 March 2014 This query is : Resolved
Respected Experts,

Please advice who is accountable in the following case:

1. The Paying Banker who closed the account
of the customer without finalising the
position of unused cheque leaves and
returning a cheque in clearing with the
reason ACCOUNT CLOSED, thereby giving an
opportunity to commit fraud by his
customer.
2. The Service branch of the Collecting
bank, who could not intimate the return
position of the cheque before closure of
branch.
3. The Collecting bank branch passed the
credit in the normal course before clo
sure of the day's business resulting in
payment of a returned cheque.

If recovery is not forthcoming who is
accountable,
a. The Paying Banker who acted with
gross negligence so that his custo
mer defrauded public.
b. The Service branch who could not even
alert the collecting branch not to
pass the credit before closure of the
collecting branch.
c. The collecting Bank branch to have
passed the credit.

In this case the Collecting Bank branch
had taken all the precautions before
opening of the account of the customer
for whom the cheque was collected.

Yours faithfully.
Annappa

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Guest (Expert) 01 March 2014
Repeated academic query.

Already replied at:
http://www.lawyersclubindia.com/experts/Banker-s-accountability-return-of-cheques-reg-456821.asp

malipeddi jaggarao (Expert) 02 March 2014
Please do not post repeated queries.

Rajendra K Goyal (Expert) 02 March 2014
Repeated query.

Nadeem Qureshi (Expert) 02 March 2014
read your another post

ajay sethi (Expert) 02 March 2014
repeated academic query

T. Kalaiselvan, Advocate (Expert) 02 March 2014
I standby the opinion of the experts.

Sudhir Kumar, Advocate (Expert) 08 March 2014
repeated

http://www.lawyersclubindia.com/experts/Banker-s-accountability-return-of-cheques-reg-456821.asp

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