Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Anand was the managing director and a shareholder of a company. The cheques payable to the company were indorsed by him to himself in the

Anand was the managing director and a shareholder of a company. The cheques payable to the company were indorsed by him to himself in the capacity as a managing director and deposited in personal account with the Bank Of India. The bank collected the money and allowed hnn 'o withdraw. The company soon went into liquidation and the liquidators sue the bank for recovery of money of the cheques payable to the company but credited to the account of Anand.

Will lhc liquidator succeed? Will Anand be able to claim any compensation from the bank or the company?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Civil Procedure

Authors: Stephen C. Yeazell, Joanna C. Schwartz

10th Edition

1454897880, 978-1454897880

More Books

Students also viewed these Law questions

Question

Where is the position?

Answered: 1 week ago

Question

What does stickiest refer to in regard to social media

Answered: 1 week ago

Question

1. Maintain my own perspective and my opinions

Answered: 1 week ago