Name of whom be entered in pass book of payee or bearer
rajan chopra
(Querist) 30 September 2016
This query is : Resolved
Sir I made payment to one upender of Rs 20000/- through two cheques of 10000/- each without crossing the same of different banks and upender gave these cheques to one Abhishek for encashment on his behalf and both banks encased these cheques by getting the sign of Abhishek on the back of cheques.But One bank while entering the transaction in passbook of me has showed payment made to Upender and another bank showed that payment was made to Abhishek.Now wheather the two banks adopted right procedure or as per rules what is the right procedure ?
P. Venu
(Expert) 30 September 2016
Have you taken up the matter with the Banks concerned!
adv.bharat @ PUNE
(Expert) 30 September 2016
Author need to explain the query raised by expert.
Kuummaar AS
(Expert) 30 September 2016
You issued cheques to upender and must have written his name on the cheques. upender gave these cheques to Abhishek for encashment on his behalf.
"On his behalf is not understood." Please clarify, while signing at the time of encashing cheques, Abhishek used the name upender or abhishek.
rajeev sharma
(Expert) 30 September 2016
it seems that the cheque issued by you was a bearer cheque. the bank entered the name to whom they made payment.
Rajendra K Goyal
(Expert) 30 September 2016
Uncrossed bearer cheque can be presented and third person can receive payment. If it was crossed, write to Bank for debit from your Bank and refund.
Has concerned person refused receiving payment? If he agree that he has received the payment, get a receipt from him.
Guest
(Expert) 30 September 2016
Academic query.
By the way, what is the purpose of asking, whether it is payee or bearer?
If you have some specific purpose to act upon the transactions, please make that clear to the experts.
Raj Kumar Makkad
(Expert) 30 September 2016
Have you faced any problem? Is Upender denying that you have not paid to him the said amount?
If name of Upender was mentioned on cheques, the same cannot be got encashed in the name of Jitender.
This is a student query.
rajan chopra
(Querist) 01 October 2016
Sir I am explaining the query raised by experts. (1 ) Yes I have taken up the matter with the Bank concerned but they are not responding positively (2) Yes I have written the name Up ender after pay to option (3) ON HIS BEHALF means for him (4) Abhishek used his own name while signing on the back of cheque at the time of receiving payment (5) Cheque issued by me was uncrossed and bearer cheque (6) The Bank has made payment on behalf of me and they can not change the name of Payee (7) The concerned person has not refused to receive the payment. (8) The purpose of asking the query is that what is the right procedure as per Rules as one Bank is while making entries in pass book mentioning payment made to Payee and another is mentioning payment made to bearer (9) I have not faced any problum so far. I have explained the query raised by Experts and hope my query will no longer be un explained.
Guest
(Expert) 01 October 2016
Mr. Rajan Chopra,
MUCH ADO ABOUT NOTHING !
When no problem for you, no specific purpose to act upon, payment not denied by the payee, and you issued bearer cheque, not being account payee cheque, where was the concern for raising such a vague academic query?
About bank, what do you mean by saying, "they are not responding positively?" The bank has not erred in making payment to anyone, who presented the cheque. Even a thief could have encashed your cheque, as the bank acted only on your own instructions.
You are advised to read the text written on your cheques, you will understand what is what of that instruction.
Rajendra K Goyal
(Expert) 01 October 2016
(1 ) Cheque was bearer, uncrossed, paid in due course, nothing irregular/ no provision of law violated.
(2) Cheque remained bearer till bearer word not cancelled by holder in due course.
(3) person who presented the cheque for payment was holder / entitled for the payment.
(4) Person signing can sign his own.No person can sign showing he is other person.
(5) It can be paid on counter to the person presenting it.
(6) Bank has paid on behalf of payee, have not changed payee but paid to bearer as per your instructions.
(7) Matter ends here.
(8) Bank has adopted right procedure in paying the cheque.
(9) Then why to waste energy in such query.
Rajendra K Goyal
(Expert) 01 October 2016
Dear author,
Do not make issue of a matter having no base.
Agree with the expert P.S. Dhingra.
Rajendra K Goyal
(Expert) 01 October 2016
Dear Author,
Do not misuse the facility being provided to needy.
By the way how much amount was involved?
Raj Kumar Makkad
(Expert) 01 October 2016
It seems that no only author is WEHLA but he is successful in making many of us of his category.
Keep on raising such queries and we shall go on wasting our valuable time just for raising our score on higher side. One such query is sufficient to go much more higher.
Thanks Mr. Chopra.
Rajendra K Goyal
(Expert) 02 October 2016
Author has not replied the question, how much amount was involved?
Dr J C Vashista
(Expert) 05 October 2016
Sufficient time and energy available with author to engage the experts in solving this academic query.
