89. Payment of instrument
on which alteration is not apparent.- (1) Where a
promissory note, bill of exchange or cheque has been materially
altered but does not appear to have been so altered, or where
a cheque is presented for payment which does not at the time
of presentation appear to be crossed or to have had a crossing
which has been obliterated, payment thereof by a person or
banker liable to pay, and paying the same according to the
apparent tenor thereof at the time of payment and otherwise
in due course, shall discharge such a person or banker from
all liability thereon, and such payment shall not be questioned
by reason of the instrument having been altered, or the cheque
crossed.
(2) Where the cheque is an electronic image of a truncated
cheque, any difference in apparent tenor of such electronic
image and the truncated cheque shall be a material alteration
and it shall be the duty of the bank or the clearing house,
as the case may be, to ensure the exactness of the apparent
tenor of electronic image of the truncated cheque while truncating
and transmitting the image.
(3) Any bank or a clearing house which receives a transmitted
electronic image of a truncated cheque, shall verify from
the party who transmitted the image to it, that the image
so transmitted to it and received by it, is exactly the same.
[Sub-clause 2 and 3 inserted vide Negotiable
Instruments (Amendment and Miscellaneous Provisions) Act,
2002 ]
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