Cheque payment stopped - redeposit??
Deepak Nair
(Querist) 19 December 2011
This query is : Resolved
Dear Sirs,
Can a cheque which is dishonored for teh reason "payment stopped by drawer" be reposited for realisation?
Nadeem Qureshi
(Expert) 19 December 2011
yes,
The Supreme Court held in many cases that between the validity of the check there is no limit for present the check before the bank for encashment.
feel free to call
Deepak Nair
(Querist) 19 December 2011
Thanks a lot Nadeem Sir.
I wanted to confirm with regards to the reason for dishonour as "payment stopped by drawer", since i was a bit confused.
V R SHROFF
(Expert) 19 December 2011
If Chq return Memo is more that 30 days now, you re -deposit the cheque.
If within a month, send Legal notice u/s 138 NI Act.
ajay sethi
(Expert) 19 December 2011
As per sec. 138 (a) cheque required to be presented within six month from the drawn date.If cheque returned with endosement "Payment Stopped by Drawer",same cheque can be represented in the bank & bank cannot refuse to accept the cheque on the reason that already payment is stopped by drawer
Deepak Nair
(Querist) 19 December 2011
Sir,
The cheque can only be deposited after 30 days of the memo?
What if we deposit before exipry of 30 days? Kindly advise.
ajay sethi
(Expert) 19 December 2011
you can redeposit the cheque . what mr shroff meant was if 30 days have not passed you can issue legal notice for dishonour and you need not re deposit the cheque
DEFENSE ADVOCATE.-firmaction@g
(Expert) 19 December 2011
Stopped payment is no entry barrier now , the validity has been cancelled by the drawer of the cheque so six months limit not applicable.
Deepak Nair
(Querist) 19 December 2011
Dear Sirs,
Thanks a lot for your replies. Kindly ignore my 3rd question.
Raj Kumar Makkad
(Expert) 19 December 2011
I have no option but to admit the legal position in such cases repeatedly narrated by various experts.
prabhakar singh
(Expert) 20 December 2011
I am also of a similar opinion as expressed by dear raj kumar makkad
Guest
(Expert) 20 December 2011
Dear Deepak,
There is absolutely no sense in redepositing a cheque when specifically stopped for payment, as the bank will never honour a cheque once stopped for payment. Question of cancellation of validity has no concern, as it is not a case of cancellation of cheque and also that being just one sided action only without serving due notice to the drawee about cancellation of cheque or stoppage of payment.
Shonee Kapoor
(Expert) 20 December 2011
Right Mr. Dhingra, it won't be encashed but it is no bar from representing.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Guest
(Expert) 20 December 2011
@ Shri Shonee Kappor,
Thanks for endorsing my views please.
vasant kulkarni
(Expert) 20 December 2011
THE BANK MAKES A BOLD-LETTERED REMARK ON THE FACE OF THE CHEQUE "PAYMENT STOPPED BY THE DRAWER".IF YOU PRESENT CHEQUE,IT WILL NEVER BE PASSED EVEN IF THERE IS SUFFICEINT CREDIT BALANCE IN THE A/C.THE PAYMENT MANDATE TO THE BANKER IS WITHRAWN BY THE DRAWER.IT WILL BE A JUST A PIECE OF PAPER.
RAJU O.F.,
(Expert) 20 December 2011
Once stop-payment instruction is registered with the bank, they will record it in the folio of the account holder. Unless the account holder reversed his instruction to the bank in writing, the said cheque will not get passed, even if there is sufficient funds in the a/c. Normally instructions for stop-payment are given when cheque leaf/book is lost/stolen or the goods purchased out of the cheque amount was later found of inferior quality, or when the payment was already made to the payee by cash or DD, etc. If the drawer of the cheque reversed his instruction to the bank and thus intimated to the payee, then he can re-present the cheque for payment and there may be chance for getting the cheque passed for payment.
