Vinayak maintains an account with the bank. A court attachment order for ₹ 10,000 on the account is received. State the action that will be taken in the following situations : (iii) A credit voucher for ₹ 3,000 being col
CS Professional · Banking - Law and Practice · PYQS · June 2018
Vinayak maintains an account with the bank. A court attachment order for ₹ 10,000 on the account is received. State the action that will be taken in the following situations : (iii) A credit voucher for ₹ 3,000 being collection of cheque realized has been released.
Answer & Explanation:
If at the time of the receipt of the Garnishee Order, the proceeds of the cheque sent for collection have been realized, this amount would also have to be included in the balance.
Topics: Banking Law and Practice
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