Can a Bank cancel expired Demand Draft without revalidation?
Are there any regulations which Banks need to follow or any court judgement on cases?
3 Answers from Attorneys
No bank can not cancell the expired DD ]
for details contact me at [email protected]
Banks won't cancel on their own DDs. Issued by them.
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.
Related Questions & Answers
Dear Sir, In last Year me & 2more of my freinds started working for a company... Asked 7/25/13, 3:01 am in India Banking Law
In past i was working in a company. where i friend with all my colleague on day one... Asked 7/24/13, 12:36 pm in India Banking Law
We lost the criminal check bouncing case of amount 2lac . can we appeal for civil... Asked 7/23/13, 8:15 am in India Banking Law
Why we are using legal paper instead of A4 size paper in court / registered office.... Asked 7/22/13, 9:02 am in India Banking Law
If i am karta of the family can mortgage HUF property -- what about other family... Asked 7/19/13, 9:44 am in India Banking Law