Sample on Dishonoured Cheque - Judiciary.
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The NI Act makes the drawer of cheque liable for penalties in case of dishonour of cheques due to insufficiency of funds or for the reason that it exceeds the arrangements made by the drawer. The NI Act also contains sufficient safe guards to protect the drawer of cheques by giving him an opportunity to make good the payment of dishonoured Cheque when a demand is made by the payee.
Dishonoured means returned Normally when the cheque deposited by anybody for collection or presented for payment at the teller counter, the banker makes payment of the cheque subject to several conditions. When the cheque is returned by the banker.
Customers face cheque-mate District Judge Neil Hickman on the difficult battle to justify a stopped chequePeople tend to draw a cheque in the belief that if something goes wrong it can always be.
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Query on Cheque dishonour and bank charges - Accounts. 07 August 2015 Dear Experts X sells goods of Rs. 10000 to Y. Y gives X a cheque of Rs. 10000.
Banks should put in place an appropriate policy approved by the Board or its Committee taking into consideration the need to prevent misuse of the cheque drawing facility and avoid penalising customers for unintended dishonour of cheques. 3. This policy should be transparent, made known to every customer upfront and implemented fairly.