What if cheque was lost and misused Karachi?
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In Karachi, cheques remain an important means of payment. The city is home to the world’s biggest financial industry, and cheques are ubiquitous. Many are a bit boring in design, but in this case, the loss of a cheque can be the death of someone. I have been working as a lawyer in Karachi for nearly a decade. I have encountered a scenario where a cheque has been lost, and the person it belonged to is owed money. Such a cheque had to be sent to another person to clear the deb
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The first thing you notice when you visit Karachi is the beauty of the city. The sky is so bright, it seems to cast a warm light across the street, from towering skyscrapers to vibrant markets and mosques. It’s as if the sun was a small seed in the clouds, planted in the midst of all these magnificent buildings. My name is Rahat Ijaz and I have been a lawyer in Karachi for a few years now. I’m not some lawyer you can find at any corner, instead,
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In Karachi, a small part of Pakistan, if a cheque bounces after 14 days, the cheque is reported to the relevant authorities. If the amount on the cheque exceeds 500,000, the cheque becomes a national disaster, and the whole nation is thrown into chaos. Cheques are issued to businessmen to clear expenses like rent, credit card payments, and other services. It was a common practice that cheques were issued to the parties in good faith, especially to people on whose name
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My law firm has been doing business in Karachi for decades. A case happened today that left everyone shocked and aggrieved. A cheque from a client was returned unpaid. read more We demanded payment from the bank for issuing the cheque. The client did not pay. The bank was not aware of the cheque’s unpaid status. As a result, the client’s account was frozen, and we had to seek legal remedies. We requested the bank to open an account on the client’s behalf for his/her
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“We all know that cheque is one of the most popular and reliable payment methods in Karachi. But sometimes, it doesn’t work out as planned. Some cheque got lost or misused, which resulted in losses to the owner of the cheque. Such situations occur in Karachi and people in the city suffer a lot due to such loss.” Section: What if Cheque Was Lost and Misused Karachi, The Effect of the Misuse and Loss? Add an explanation here. You can also add details related to the effect of the misuse and
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It is a well-known fact that Karachi’s economy is in a recession period. The major reason behind this downturn in the city is the rise in inflation and increase in unemployment rates. There have been unforeseen natural calamities like cyclone Kisumbu, floods and hurricanes that have destroyed properties, homes, businesses and many others. However, one of the most devastating and costly losses in Karachi has been the loss of cash. What if a cheque was lost, and the c