Banking · Negotiable Instruments Act

A bank collects a cheque for a new customer who opened an account two weeks ago without a proper introduction or verification of the permanent address through reliable third-party sources. The cheque is drawn in favor of a reputed partnership firm but is endorsed in favor of the customer in his individual capacity, and the bank proceeds to credit the funds without further inquiry into the customer's authority to handle firm property. After the funds are withdrawn, it is discovered that the customer had forged the firm's endorsement and had no title to the instrument whatsoever. Under which section of the Negotiable Instruments Act, 1881 would the bank attempt to seek protection, and is that protection likely to be granted by a court of law?