CA Lokesh Pokharna (CA) 26 December 2017
Dear All,
We have given money to someone and against that we have taken cheque as a security . blank cheque was taken in the year 2011 at that time name was printed on the cheques , after 2012 new cheques came in the market which were containing name of ac holder as well.
I want to know 2 things - we can still present old cheque to the bank for payment , 2. and if yes then will bank issue us cheque dishonour memo if there will not be sufficient balance ?
Siddharth Srivastava (Advocate) 26 December 2017
Has security came into force? If yes then it is better to demand new cheques from drawer. Old cheques are discarded so bank may demand new cheque and also may refuse to accept the same and in such circumstance bank shall not issue memo.
Sudhir Kumar, Advocate (Advocate) 29 December 2017
you are yet to have a cause of action.
Member Strength 9,47,797 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
