N i act

Querist : Anonymous (Querist) 05 November 2011 This query is : Resolved
When a forged cheque is encashed on presentation to a bank, what is the liability of bank.

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Kiran Kumar (Expert) 05 November 2011
Bank can be dragged to Consumer Forum...and the complaint shall also be given to the Reserve Bank of India...heavy penalty can be imposed upon the bank by RBI.

please visit official website of RBI for relevant rules and complaint authority.

Querist : Anonymous (Querist) 05 November 2011
can any remedy sought at N I Act ?

prabhakar singh (Expert) 05 November 2011
Bank collecting the payment have defence under section 131 of NI Act.

Arvind Singh Chauhan (Expert) 05 November 2011
I go with Kiran Sir.

Guest (Expert) 05 November 2011
no remedy under n.i act. only seek redressal before ombudsman and consumer.

Nadeem Qureshi (Expert) 05 November 2011
Mr. Kiran is rightly explained. explained forged cheque?

ajay sethi (Expert) 05 November 2011
agree with kiran kumar . in case of forged cheque complaint can be filed with consumer forum and bank will have to reimburse the account holder .

Sankaranarayanan (Expert) 05 November 2011
yes i do agree with mr kiran's view, it is purely banker's duty to scrutinize whether it is genuine or not.

Guest (Expert) 05 November 2011
Agreed with Adv. Kiran kumar

Raj Kumar Makkad (Expert) 05 November 2011
Banker is duty bound to satisfy itself from all corners of cheque prior to releasing of payment and if it has defaulted in its statutory duty causing losses to account-holder then such banker is liable to meet losses with heavy penalty and warning/disciplinary action against concerned employee responsible for such carelessness.

Consumer Forum, Bank Ombudsman, RBI, Civil Court etc. are proper form for getting desired benefits.

DEFENSE ADVOCATE.-firmaction@g (Expert) 05 November 2011
First you have to prove how it is forged and how the custody has gone to the forger till that time no legal remedy.

And if your nexus is involved and crying after wards there will be criminal liability against you.

Advocate. Arunagiri (Expert) 05 November 2011
When a forged cheque is encashed, file a police complaint for forgery, adding the bank as a party.

Querist : Anonymous (Querist) 07 November 2011
Thanks to all experts.

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