golladeepthi
Hi
I am working as administrator in a corporate office. In our company there are four authorised signatories and mandatory given to bank is any two should sign the cheque whatever the amount may be. Out of four i am one of the authorised signatory Now the problem is i have signed a cheque of Rs.9.00lakhs which has bounced due to insufficient funds.
Here I want to know who is responsible when the cheque bounces. In any circumstances whether i am responsible because signature is mine
Awaiting for your valued reply
Deepthi

From India, Hyderabad
Lovebird143
7

DONT WORRY
NOTHING WILL HAPPEN,, DONT TAKE TENSION,,,
JUST CALL UP THE BANK AUTHORITIES, OTHER PARTY,
AND IF THEY KNOW U, THEN ITS TOO GOOD,,,
THEY WILL HANDLE THE SITUATION,,,
THIS SITUATION HAS ARISEN IN OUR COMPANIES SOME TIMES AND OUR ACCOUNTS GUY KNOWS HOW TO HANDLE IT :P :P
BUT BE CAREFUL NEXT TIME< AND DOUBLE CHECK BALANCE BEFORE ISSUING CHECK>

From India, Pune
Lovebird143
7

IF U DONT BELEIVE ME,,,
BE READy,,,
THE POLICE VANS WOULD COME SOON, and YOU WILL BE BEHIND THE BARS<,, eeeeks ,,, just think how it would be to be in JAIL,,
and the POLICE ASKING U QUESTIONS .... with torch light,,
EEEKSS
they may come at any time.... and then ur long trips to court will start...
----------
:oops: :oops: :oops: :oops: HEY IM SORRY,,
dont worry yaar, contact ur finance dept and ask them to handle this case, speak with the BRANCH MGR OF the BANK,, ,and explain him the situation..

From India, Pune
sameerparanjape
12

Hi,
Legally both the signatories are jointly and severally liable. But don't worry. Before procecuting you the other party has to issue you a legal notice claiming the amount. You can accept the liability (I mean your company) and make the payment.
S.M. Paranjape,Advocate

From India, Pune
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