Banking Matter
Querist :
Anonymous
(Querist) 30 July 2011
This query is : Resolved
Dear Sir,
Our society at mumbai is having bank account with one nationalised bank in our locality. The account has been managed by three committee member and mode of operation is 'any two of three'. Till now, two person were signing all the cheques. But from 01/04/2011, two of three has resigned from the committee and stoped signing any cheques. No intimation has been given to the bank by the third committee member and no required changes has been made in bank record. Howevevr, bank manager has been clearing all the cheques on the basis of one signature only. Is it right? If not, what action can we take against the bank.
prabhakar singh
(Expert) 30 July 2011
issue a notice to the bank informing its wrong and losses and to stop unauthorized payments failing which warn of suit/complaint with cost. .
