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Cheque detention charge

(Querist) 03 May 2016 This query is : Resolved 
Sir,

I issued a cheque in time on a stock trading firm against my purchase on 05-01-2016 . The firm submitted the cheque to its bank for encashment next day , 06-01-2016.
The cheque was encashed on 13-01-2016 after 7 day's detention . The Co. blamed me for detention that your bank has delayed the cheque encashment.The firm charged me a lump sum amt. for this . I contacted my banker who denied the case . My bank wanted to know in which bank the cheque was submitted. My bank is saying , the bank branch where cheque was submitted , is responsible for delay.The Co. already debited the amt. in my Ledger A/C without any satisfactory reply.
What I can do in this situation and am I actually responsible for this?
Ajay Bansal (Expert) 03 May 2016
File a civil suit for taking damages against the bank branch where cheque was submitted by your bank.
Rajendra K Goyal (Expert) 03 May 2016
Send legal notice for the amount and file suit for damages.
Hemant Agarwal (Expert) 04 May 2016
1. Once a receipt Clients cheque is duly acknowledged by the Trading Firm, the liability of the Client is legally over, unless and until the Clients cheque is dishonored for ANY reason.

2. Client has no "privity of contract" with the bank of the Trading Firm, hence no legal actionable cause arises, therein.

3. Clients dealing in stocks, in individual capacity is within the parameters of the Consumer Protection Act.

4. Any arbitrary levy of any charges on the Client by the Trading Firm, is negligence and deficiency and a dispute can be successfully filed with the local Consumer Court.

Keep Smiling .... Hemant Agarwal
VISIT: http://www.maharashtra-society-help-forum.com
malipeddi jaggarao (Expert) 04 May 2016
Agreed with the advice of expert Sri Hemant Agarwal. If you have acknowledgement/receipt for the cheque given, your liability is over unless the cheque was bounced on the basis of financial reasons. If the Trading Firm unilaterally debited your account, send a registered letter asking them to reverse the entry. If no reply file a complaint in the consumer court.


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