One of my friend deposit a cheque for amounting Rs. 30,000 for credit card payment but the bank returns the cheques with remarks insufficient fund, but the account has around five times money (in Lakh), can bank be held responsible for this mistake and any legal action can be taken against Bank,
23 October 2008
thanks, yes the amount is much more than the cheque before clearance of cheques and still in account,
can u please tell me what is the procedure, what can I suggest to my friend, what may be the likely expenditure and expected time for legal action against the bank.
CAclubindia
