NPA by Bank

This query is : Resolved

Laxmikant (Querist)
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19 June 2021
Our Company having CC and OD account but due to some circumstances our account NPA and bank issue letter to our customer for stop payments which credited another bank.
We are having same bank (which used CC & OD ) another Escrow account and our some customer make payments in escrow account but bank issue a letter stop payments .

It is correct or not bank has issue letter stop payments in escrow account which same bank and same branch.
Request you please give your opinion.

L.D Dharmadhikari

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 June 2021 Bank can't issue stop payment letter to your customers. It requires legal backing by a court order.

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