What Happens To Issued Cheques When Account Is Emptied?
What happens to issued cheques when the account is emptied?
Free Legal Advice - banking financial
Posted by: Avinash Sardana
Posted on: 2018-09-19
An instruction to the bank to stop the payment of the cheque should be issued. Further, the company should be intimated regarding the decision so as to not run the risk of prosecution for bouncing of the cheque. The transactions for which the cheques were issued are to be canceled.
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