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Cash withdraw by bearer cheque

(Querist) 24 April 2018 This query is : Resolved 
I have issued bearer cheque in name of navneet kumar sharma of rs 72000/-of punjab nation bank. Bank made payment to other person without taking any id and not intimate me..Whether bank can do that under RBI guidelines..Navneet kumar sharma commit farud with me he actually took cheque from me in favour of hdfc bank limited by written magic pen and withdraw from my bank 122000/- so what actions I can take against bank and fraud person .
Ms.Usha Kapoor (Expert) 25 April 2018
You file a police complaint against that man who cheated you on the pretext of taking bearer check in i the name of Navneet Kumar Sharma of Rs.72000 of Punjab National Bank and cheated you.Bank also was negligent in its duty towards you without taking that fraudster's ID and not intimated to you. Talk to the Bank higher ups in this regard and also issue a legal notice to the bank.Navneet Kumar Sharma took check from the client stating that he is taking it in favour of HDFC bank and filled the check amount for Rs.122000 and cheated our client or querist. and filled it with !22000 and withdrew that amount.by telling our client that he is taking the bearer check in the name of HDFC bank.
rajeev sharma (Expert) 25 April 2018
Once a bearer cheque is presented before a bank it is legally bound to honour that if your account has sufficient funds. You may take the help of RBI Circulars which directs that such a big amount will not be paid in cash to bearer of cheque. Generally the bank obtains signature of presenter on the back of cheque contact bank and and try to verify that. If the bank has paid cheque in cash it has certainly acted in negligence and not followed RBI guide lines.But first and foremost lodge an FIR with the police.


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