Cheque clearing issue.

Querist : Anonymous (Querist) 11 November 2022 This query is : Resolved
Dear Sir,

My Name is Anupam Saxena & i am working as a Assistant Accounts Manager in a Pharmaceuticals Company, My Query is that i had a Cheque of HDFC Bank & Deposited in Axis Bank. Because the Account in Axis Bank. Problem is that the name on the Cheuqe was Yatish Kumar & the Axis Bank A/c No. Name was only YATESH & the bank official take the Cheque for Clearing. Now Problem is that the in the Statement HDFC Cheque is Debited & Showing under Clearing. So My Question is that is this Should be Clear due to name differ or if Cheque is showing under Clearing in my HDFC Bank Statement. will it be Reversed.

Please Suggest me the on this Matter.

Regards

Anupam Saxena

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Quick Summary

Anupam Saxena is experiencing a cheque clearing issue where a cheque issued to 'Yatish Kumar' was deposited into an Axis Bank account named 'Yatesh'. The HDFC cheque has been debited and shows as 'under clearing' on the statement. The question is whether the cheque will clear despite the name discrepancy or if it will be reversed. The consensus is that it will likely be reversed due to the name mismatch and it's advised to get a replacement cheque with the correct name.

kavksatyanarayana (Expert) 11 November 2022
It shall be reversed as Axis bank cannot accept when the name is different from their account record. So ask them to cancel it or ask them the procedure to be followed.

Dr J C Vashista (Expert) 12 November 2022
Get the cheque replaced with correct name.

Advocate Bhartesh goyal (Expert) 12 November 2022
Yes ,get replaced cheque with correct name.

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