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 : (iv) Vinayak's current account has been over
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 : (iv) Vinayak's current account has been overdrawn by ₹ 2,500.
Answer & Explanation:
In the instant case, as no amount is owed to Vinayak, the account is not attached.
Topics: Banking Law and Practice
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