Legal Question in Banking Law in India

Re: Demand Draft Dishonoured

Yes, you have a valid case to approach consumer forum. because bank cannot dishonour a demand draft validily present. Further, a new demand draft issued to the purchaser can only be after obtaining adequate indemnity.

Re: Demand Draft Dishonoured

I agree with the above opinion.

Re: Demand Draft Dishonoured

You can approach the bank where the DD was taken and initiate the process for updating by giving an application and showing the proof of your account details and ID proof.

Re: Demand Draft Dishonoured

As per information given what I understand is that DD was given to you by the Purchaser of DD in settlement of amount due to you. He has however advised the issuing Bank that the same is lost & requested to issue Duplicate.This duplicate is not given to you by him & in the meantime he expired.The original DD which you presented was returned by the drawee Bank with the reason payment is stoppped by the drawer Bank.Since original DD returned by Drawee Bank is with you and the return by drawee Bank appears to be incorrect you may approach Banking Ombusman office in your state with all the details & documents and seek the redressal of your grievances

Pravin Vaidya

Re: Demand Draft Dishonoured

From the further details you have provided, you are the payee of the demand draft. If you have presented the dd in time for collection and if it has been refused to be paid on the ground that it has been reported by the purchaser as lost, you have every right to sue the Bank. The Bank would have taken indemnity from the purchaser of the draft before issuing a duplicate draft. Issue notice to both the draft issuing Bank and the legal heirs of the purchaser. What is the amount involved? If it is worth suing, please approach Sri.T.Venugopalan,Advocate, G3,Ground Floor, 13&14, Poes Road 3rd Street, Teynampet, Chenna-600 019, after prior appointment. you can ascertain the phone Number by recourse to the directory as providing the same in this reply is prohibited.

Re: Demand Draft Dishonoured

From the further details you have provided, you are the payee of the demand draft. If you have presented the dd in time for collection and if it has been refused to be paid on the ground that it has been reported by the purchaser as lost, you have every right to sue the Bank. The Bank would have taken indemnity from the purchaser of the draft before issuing a duplicate draft. Issue notice to both the draft issuing Bank and the legal heirs of the purchaser. What is the amount involved? If it is worth suing, please approach Sri.T.Venugopalan,Advocate, G3,Ground Floor, 13&14, Poes Road 3rd Street, Teynampet, Chenna-600 019, after prior appointment. you can ascertain the phone Number by recourse to the directory as providing the same in this reply is prohibited.