Legal Question in Banking Law in India

Can a Bank cancel expired Demand Draft without revalidation?

Are there any regulations which Banks need to follow or any court judgement on cases?

Asked on 7/25/13, 11:24 pm

3 Answers from Attorneys

dear client...............

No bank can not cancell the expired DD ]

for details contact me at uttamtibrewal@yahoo.com

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Answered on 7/26/13, 2:53 am
J. Radhakrishnan independent Practice

Banks won't cancel on their own DDs. Issued by them.

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Answered on 7/26/13, 10:59 am
Fca Prashant Chavan Expert Edge LLP

29.07.2013

Dear Sir / Madam,

The bank is supposed to contact the A/c holder who has issued the Demand draft and credit the sum specified in the Demand Draft back to the holder's (Payer's) A/c since the validity period of the draft has expired. A Demand Draft cannot be revalidated on the same instrument. A fresh instrument has to be issued by the bank.

Regards,

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Answered on 7/29/13, 1:47 am


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