SIR,
KINDLY NOTE THAT ,
DUE TO SEVERAL CASES OF CHEATING AND FRAUD, BANKS ARE TAKING PRECAUTIONS TO SAFEGUARD THE INTEREST OF ACCOUNT HOLDERS.AND HENCE SOMETIMES INCONVENIENCE IS CAUSED TO EVEN GENUINE PERSONS.
1. FROM THE GIVEN FACTS YOU HAVE MENTIONED THAT SELF CHEQUE WAS ISSUED AND BANK DENIED THE PAYMENT TO THE BEARER.
2. IN CASE OF PERSONAL ACCOUNTS PERSON IS SIGNING THE SELF CHEQUES AND PRESENTING AT BANK COUNTER AND BANK WILL ALLOW WIDRAWAL AFTER CHECKING HIS IDENTITY PROOF AND SIGNATURE. IT IS A PRECAUTION TAKEN BY THE BANK OFFICERS.TO SAFEGUARD THE ACCOUNT HOLDERS INTEREST FROM ANY MISUSE OR THEFT OF SAID CHEQUES PLESE NOTE.
3. BUT IN CASE OF COMPANY ACCOUNTS AUTHORISED SIGNATORY IS SIGNING THE CHEQUES AND IF ANY OTHER PERSON GOES AS A BEARER OF SAID SELF CHEQUE , THE BANK OFFICER HAS TO VERIFY THE THE AUTHORITY, AS PERSON SIGNING SELF CHEQUE AND PERSON PRESENTING AT THE COUNTER WHO IS BEARER IS DIFFERENT.THERE ARE OTHER IMPORTANT FACTORS INVOLVED IN THIS , THERE MAY BE A LIMIT FIXED FOR CASH WIDRAWALS , AT THE TIME OF SENDING LIST OF AUTHORISED SIGNATORIES AND ACCOUNT OPERATING INSTRUCTIONS GIVEN TO BANK AT THE TIME OF OPENING THE SAID ACCOUNT IN THE NAME OF THE COMPANY PLEASE NOTE.
4 THAT MAY BE THE REASON THE BANK MIGHT HAVE ASKED TO WRITE THE NAME OF THE BEARER OF SAID CHEQUE TO SAFEGUARD THE INTEREST OF THE SAID COMPANY.
5. THESE DISPUTES CAN BE SORTED OUT BY THE CONCERNED AUTHORISED SIGNATORY AND MANAGER OF THE SAID BANK BY PROPERLY DISCUSSING THE MATER.
GOOD LUCK.
N.B.SAWANT., M.COM.LL.B., ADVOCATE HIGH COURT.
