Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT RATES :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: empanelment :: form 3cd :: due date for vat payment :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD
 
 
News Headlines »
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits

Bank not liable to pay amount of misplaced cheques: Panel
May, 27th 2008

A bank cannot be asked to pay the amount of a misplaced cheque unless it is proved that the instrument has been encashed by a third person, the Delhi Consumer Commission said.

"Unless and until, there is unauthorised encashment of such (misplaced) cheque by any third person due to negligence of the bank, it cannot be directed to pay the amount of the cheque, which the party (depositor) is entitled to receive from the third (cheque issuer) party," Commission President Justice J D Kapoor said.

At the most, the bank can be held liable to pay compensation for the negligence in misplacing the cheque, the Commission said.

Partly allowing an appeal of Central Bank of India, the Commission set aside a district forum order, directing it to credit Rs 72,175, the amount of three cheques that have been misplaced by it, into a complainant's account.

"As there is no evidence as to the encashment of the (misplaced) cheque by some unauthorised person, the order for directing the appellant bank to credit the amount of cheque was unjustified and uncalled for," Justice Kapoor said.

Holding that the act of misplacement of cheques, however, amounted to deficiency in service under the Consumer Protection Act, the Commission asked the bank to pay Rs 10,000 for causing mental agony and harassment to Ajay Aggarwal.

The cheques were issued by Punjab-based Janta Trading Company in favour of Aggarwal.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions