A proprietor gave a post dated account payee cheque (dtd 5th April) on 23rd March to a supplier. The supplier presented the cheque before the cheque date in his bank. It came for presentation to the proprietor's bank on 28th March but was returned due to insuffient balance in the proprietor's account, due to which the "Cheque Return Charges" was debited to the proprietor's account. However there was sufficient balance on 5th April.
Now I want to know that was the bank right in debiting the Cheque return charges for no fault of the proprietor? Who is responsible for this negligence... Is it Supplier's banker or proprietor's banker? Or is it wrong to give post dated cheque itself??
CAclubindia
