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Is it okay to stop payment on an issued cheque?
24-Jul-2023 (In Cheque Bounce Law)
I had paid a sum of Rs. 15,000/- through a cheque to an educational consultancy for study abroad (MBBS in Russia) However, two days later, I donot wish to avail their services. Is it okay for me to stop payment of cheque by informing my bank? I'm sure they haven't initiated the procedure/made any payment since it has been weekend. They claimed the amount of Rs. 15000/- were registration charges for them. However, the receipt says the sum is paid towards 'air tickets'. Also, I have submitted my original documents - passport, 12th marksheet and passing certificate. Am I in a favourable position?
It is advisable to address a letter to the institution informing them about change of plan to study abroad and request them to hand over cheque as do not wish to continue with them and thereafter you can request for stop payment to your financial institution.
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Adv. Kunal Tiwari
Mumbai | 25+ Answers
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Yes you can issue stop payment notice to your banker regarding the said cheque. Since the mentioned documents in original are under the custody of opposite party, you have to sort out either by amicable settlement or legal process.
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Adv. Sudip Mallick
Mumbai | 25+ Answers
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