answersLogoWhite

0


Best Answer

Ye. Tthe Bank HAS A PARAMOUNT RIGHT OF SETOFF OVER A GARNISEE OR ATTACHMENT ORDER.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Garnishee order received by a bank in India There after whether bank can set off the balance in the account?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Movies & Television
Related questions

On my account it reads ledger balance and then available balance they are two different amounts what is ledger balance?

There are several definitions, here's a few: Account balance after all activity for the previous day has been posted to the account. An account balance that is the result of the total debit and credit activity as of a specific date and time. There is no indication of funds availability or usability. A record of the balance in a customer's account per the bank's records. The balance in an account at the beginning of each day, also known as the current balance. Includes all deposits and withdrawals that were posted from the previous night, whether or not funds have been collected. See also: Collected balance. Hope this helps you.


Will SAFCO garnish your wages for a 12000 repossession?

Any lender has to get a judgment before they can garnishee anyones wages.Then the debtor has to have wages before any lender can garnishee them. It is up to the lender whether or not they go that route in the collection process.


Can a bank stop you from closing an account?

If the account is in debt you cannot close the account without settling (paying off) the balance. Otherwise it is your right to decide on whether you want to keep the account or close it.


How can i Know whether current account provide same interest like saving account in UAE?

A current account is an account where the level of activity is far more than savings. It is often referred to as a check in account and is made to do frequent transactions as a result most of the times it does not have balance in it. In such cases, current account in banks in does not offer any interest on the account balance . They are 0 interest accounts.


Can you close your checking account if you have a balance left on your VISA card?

Yes, you can close your checking account even if you have a balance left on your VISA card. However, closing the account will not eliminate your obligation to repay the remaining balance on your credit card. You will still be responsible for making payments on the outstanding debt.


Where can you find subscription receivable in the balance sheet?

Whether Subscription Receivable account should be presented as an current asset or a contra equity account is debatable. The US SEC requires it as a contra equity account.


What services can be accessed using RBC Bank online?

The services that can be accessed using RBC Bank online include logging into your account, checking your account balance whether in your savings account or checking account, along with asking questions with an employee online.


What should you look for in a balance sheet as an investor?

1. value of a share. total assets/ total shares 2. whether the company is in losses? if the balance sheet shows profit and loss account at assets side, the company is in losses.


What factors do you take into account in determining the amount of depreciation?

You need to consider the useful life if the asset. The risidual income you expect to get from selling it on. And whether you are using straight line or reducing balance.


If you received a collection notice and the company stated they reported your account to the credit bureau on Monday if you pay it this week since it is the same week will your score remain the same?

If they reported your account to the credit bureau, your score will decrease whether you paid it or not.


Trial balance commission debit or credit?

Commission in a trial balance can be debit or even credit . It depends on a situation . If commission is given in the debit side of a trial balance then it is debit and if it is given in credit side then it is credit . But if no info is given it is taken as debit . Thanks


Verification of the money sent through moneygram?

To verify whether the money you sent was received you can:Call the recipient and ask him whether he received the moneyCall MoneyGram and ask them to investigate whether the money was received