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Negotiable Instruments Act

(Querist) 23 September 2009 This query is : Resolved 
Dear Experts, my client executed sale deed in favour of one X. As per the sale deed, a cheque for Rs.10,00,000/- to be given to my client as sale consideration. But the said X draw an account payee cheque in favour of my client and the X made endorsement of cancellation of cross and encashed the money as my client recived Rs.10,00,000/- as bearer of the cheque by forging the signature of my client with the collusion of the bank. Immediately my client lodged criminal complaint against X and the bank, but it was closed as mistake of facts. My querry is is the bank can pay money to the bearer of the cheque for highvalue cheque of Rs.10,00,000/- after the drawee himself cancelled the cross of cheque. What is the relief for my innocent client.riven
Arul Kumar (Expert) 23 September 2009
As a matter of policy, no bank gives Rs.10Lac through bearer cheque without proper verification. Now you have to establish in the court of law about the forgery and breach of contract.riven
adv. rajeev ( rajoo ) (Expert) 23 September 2009
Dear Shivasurya,
In your question it is not clear whether the cheque was presented for encashment in your client bank or x's bank.
When complaint is closed it is necessary to issue notice to X and the bank. After receving the reply from them then file a private complaint in the court. First court will refer the case to PSI for investigation. U don't go for it, u lead the evidence of your client and pray the court to issued summons to x and the bank.
U can prove the signature of your client.riven
Shivasurya (Querist) 23 September 2009
In the criminal enquiry the bank cashier deposed that the in practice, they can give highvalue cheque money to the bearer of the cheque as company of drawer of the cheque is well known of the bank and they have done similar transaction for the company of the drawer of the cheque. one more point is the account of the drawer with the said bank is OCC Account (Open Cash Credit Account. The cheque was encashed by the X from his own bank, my client never known about the bank of X where it situates and only after the commitment of the forgery, he knew the address of the bank. The final report of the police says that the signature on the back side of the cheque is tallyed with my client, but in real my client had not received the cheque amountriven
Raj Kumar Makkad (Expert) 23 September 2009
As the report of police is against you, it has now became a conflicting matter. The statement of cashier of the bank is contradictory to the report of the police. Better lodge private complaint before judicial magistrate and with the help of signature expert, prove your client;s signature as forged and fabricated and proceed accordingly.riven
Adinath@Avinash Patil (Expert) 23 September 2009
I agree with Rajeevriven
Sachin Bhatia (Expert) 09 October 2009
Agreed with Mr. Rajeev


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