forgery case

ravikanth (Querist) 16 July 2008 This query is : Resolved
1 International Bank opened a saving bank account in the name of Mr. R Singh and at the time of opening of the account handed over to him the copy of rules and regulations for conducting the account which also provided that the cheque book should be kept under lock and key and for loss if any arising from not complying with requirement, bank will not be responsible. The customer kept the cheque book in drawer and one of his office colleagues took off one cheque leave and by forging the signatures of Mr. R Singh withdrew the money from the bank. The customer claims the refund of the money:

can u tell me in which sections of
Banking regulation act, indian contract act, negotiable inwstruments act, will apply..........................?

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Guest (Expert) 16 July 2008
Indian Contract Act will apply.

H. S. Thukral (Expert) 16 July 2008
Customer can file a complaint in the consumer court.

arunprakaash.m. (Expert) 17 July 2008
You can file crimnial case against the persons who has embezzeled the property of your customer Under section 465 468 420 406 of Indian Penal code 1860.

R.S.Rajesh (Expert) 17 July 2008
Please refer to section 10( Payment in due course) and perhaps section 89 the liablity of the paying bankers under the provisions of the Negotiable Instruments Act.However the forgery has no protection to the banks as per the cases decided by the Supreme Court, since ther is no mandate from the drawer of the cheque for making payments on the forged instruments.

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