Encashment of instruments: proceeds must be promptly realised and credited to a separate enforcement account net of commission. The Reserve Bank or an authorised person must promptly encash drafts, cheques or other instruments and credit the realised proceeds, less commission and expenses incurred for encashment, to a separate account maintained for enforcement purposes.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Encashment of instruments: proceeds must be promptly realised and credited to a separate enforcement account net of commission.
The Reserve Bank or an authorised person must promptly encash drafts, cheques or other instruments and credit the realised proceeds, less commission and expenses incurred for encashment, to a separate account maintained for enforcement purposes.
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