16 June 2014
Dear all, If I receive a cheque in which no parallel lines are drawn but the cheque is not 'Self' cheque (i.e a name is mentioned).My questions are :- (a) Can cash withdrawal be possible with this cheque? (b) can this cheque be drawn by person other than person named in the cheque?
16 June 2014
Only the person whose name is mentioned in the cheque can receive the amount mentioned in the cheque, and only through account payee cheque process. So in ur case u have to inform the person who has issued the cheque, regarding the matter.
Guest
Guest
(Expert)
16 June 2014
if its not acc payee cheque its surely a bearer cheque now with a name written on it... if it is signed on the back also then by showing id proof of the name written on the cheque u can withdraw money from this....
and until u show id u cant withdraw... so u cant give this to other person as it is not a self cheque dear...
17 June 2014
I agree with nikhil. A self cheque is like a cash itself. Coz, founder of the cheque is the owner, and the founder can encash it by signing on the back side(without any ID proof). And it is also not necessary that he/she put his/her sign. So it is just like cash.
CAclubindia
