Corporate bank accounts operation


Can a bank return a bearer cheque favouring "Selves" or bearer, citing reason that the payee name is not clear. On reverse of the cheque the authorized signatory of the company had signed under seal of the company and also signed in individual capacity. The cheque was presented for payment by employee of the company. The bank wanted that the word "Self" to be written in the payee column. The bank is adamant that their stand is correct. Pl clarify the mater, as the payee should be written correctly in case of corporate or firm or joint individuals as a plural of self, as followed in legal drafting as well. We do hope learned members will respond to this query. VishG
 
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