If the cheque is crossed with the words'Account Payee'or similar then the cheque can only be paid into the bank account of the person initially named as the payee, thus it cannot be endorsed to a different payee.
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The Bill also proposed to introduce a new section 81 ( A ) into the principal Act to make it clear that a cheque which is crossed and bears the words " account payee " is not transferable.
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Affifuddin said the Bill also proposed to introduce a new section 81 ( A ) into the principal Act to make it clear that a cheque which is crossed and bears the word " account payee " across its face is not transferable.
How to say account payee in Hindi and what is the meaning of account payee in Hindi? account payee Hindi meaning, translation, pronunciation, synonyms and example sentences are provided by Hindlish.com.
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