Legal Question in Banking Law in India

Can a cheque for amount of ten crore be bounced by bank. Is there any amount limit.


Asked on 3/28/16, 6:05 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP

28.03.2016

Dear Sir / Madam,

A cheque of any amount (there is no limit) can be returned back by the Bank if there are insufficient funds in the A/c of the A/c holder(s) (Drawer) or for any other valid reason.

Regards,

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Answered on 3/28/16, 10:55 am


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