[Resolved]  ICICI Bank — Clearing in Wrong Name

The Branch Manager,
ICICI Bank Limited
9A, Phelps Building,
New Delhi

Re. : Current Account[protected]

We have been banking with you with abovesaid current Account.

This is to bring to your notice that we had issued cheque no. 317393 dated 30-01-09 of amount Rs. 1, 74, 253/- to Manish Sawhney. Upon coming to our knowledge of theft of instrument from the drop box of HDFC Bank, Rajouri Garden Branch, New Delhi, where the same was presented by Manish Sawhney, we sent a letter dated[protected] for stop payment. The copy of the Cheque is attached as Annexure A, copy of FIR filed by HDFC Bank is attached as Annexure B and our letter dated[protected] as Annexure C.
However, we were informed by you that Cheque got cleared on[protected] before your making necessary entry in the system for Stop Payment. We were more shocked to see the Statement of the next date which mentioned that the aforesaid Cheque has been cleared in the name of Ravi Gupta.
Upon taking up the matter with you for clearance of the cheque in some other name, we were informed after repeated follow-ups that your RPC has apparently cleared and then recorded remarks as “payee name alteration is not visible to the naked eye nor under the UV lamp” and were later informed that your RPC has taken up the matter with presenting Bank for refund of money. Now, it is more than 30 days since we last heard from you in the matter.
We understand that cheque has been cleared by your RPC without performing due diligence as is evident from the copy of the Instrument that there were visible and obvious alterations in the name on the instrument wherein the name was changed from Manish Sawhney to Ravi Gupta and the statement that the changes were not visible with naked eyes is based on wrong founding. The copy of the altered Cheque is attached as Annexure D.
We have noted the following deficiencies in services from you:
1) A late entry in the system resulting in clearance of Cheque before necessary entry in the system.
2) Clearing of the Cheque in name other than the name in which it was issued.
3) No confirmation from you on refund despite repeated follow-ups even after more than 45 days from the clearance of the said cheque in wrong name.
For DLF Retail Brands Private Limited
Neeraj Parmar
General Manager - Legal