Is demand draft cancellation is possible without original dd?
SUNIL
(Querist) 09 September 2013
This query is : Resolved
is dd cancellation is possible without original dd?
Devajyoti Barman
(Expert) 09 September 2013
It is unlikely.
However the bank may agree on compliance of certain formalities.
Guest
(Expert) 09 September 2013
Possible with signing of indemnity bond and after verification about non-encashment from the drawee branch of the bank, provided the bank's rules permit so.
SUNIL
(Querist) 09 September 2013
I HAVE TWO QUESTION. CAN YOU GIVE ME THE ANSWER PLEASE?
THE QUESTION IS ----1)if demand draft is unpaid will it become bank's money after some years?
2)IF DD IS UNPAID FOR MANY YEARS THEN WHAT DOES BANK DO WITH THE MONEY ? CAN BANK USE THOSE MONEY ?
I WILL BE VERY HAPPY IF YOU KINDLY ANSWER THESE QUESTIONS.
Rajendra K Goyal
(Expert) 09 September 2013
You have been advised in detail in your previous thread in the matter.
Repeated query:
http://www.lawyersclubindia.com/experts/What-is-the-time-limit-for-cancelling-a-dd--401886.asp#.Ui3mLT-Lq_I
SUNIL
(Querist) 09 September 2013
TO RAJENDRA K GOYAL,
NOBODY IS GIVING THE PROPER ANSWERS OF THESE TWO QUESTIONS.
PLEASE WRITE IT CLEARLY.
KINDLY PLEASE ANSWER THESE TWO QUESTION.
Rajendra K Goyal
(Expert) 09 September 2013
Every thing was clearly answered in your previous thread, if you were not satisfied, why new thread started. May be the answers are not as you wanted.
V R SHROFF
(Expert) 09 September 2013
Sunil,
why get so upset??
"NOBODY IS GIVING THE PROPER ANSWERS OF THESE TWO QUESTIONS.
PLEASE WRITE IT CLEARLY.
ur TWO QUESTION."
THE QUESTION IS ----1)if demand draft is unpaid will it become bank's money after some years? YES, THEY DEPOSIT IN UNCLAIMED FUND . U LOOSE ANY RIGHT TO CLAIM AFTER 3 YEARS.
2)IF DD IS UNPAID FOR MANY YEARS THEN WHAT DOES BANK DO WITH THE MONEY ? CAN BANK USE THOSE MONEY ?:
They may have any welfare fund, or adjustment for bad debts. They too loose money, when they can't recover Loan.
Better write to Bank's ObsOman for more clarification.
u did not provide DD beneficiary, amt , date of DD, under what circumstances u lost it etc.. It is discretion of Bank, Bank demand Indemnity BOND, and refund the purchaser of DD, after deduction of their process fees. , if within Limitation, and verifying the facts.
Guest
(Expert) 09 September 2013
Mr. Sunil,
Regarding your allegation, "NOBODY IS GIVING THE PROPER ANSWERS OF THESE TWO QUESTIONS," if you think that proper answer would be that which someone gives according to your own choice, then you are mistaken.
Further, you have put repeated questions on the same topic but with different versions. So far as I remember, your case is 15 years old for a DD of Rs.1000, and you want answer to soothe your heart, but you forget that even if someone of us gives you such an answer, which may satisfy your soul, even then that would depends upon the provisions of banking laws read with limitation act, which neither your bank would be ready to violate, nor the court can be compelled to deliver judgment to favour you.
To be frank, your claim was valid only up to 3 years, not for life.
When you had been sleeping for years together, why do you blame others for not speaking in your favour.
malipeddi jaggarao
(Expert) 10 September 2013
Your previous query is properly attended. I request the experts not to entertain this type of queries as the person keep on posting the query till somebody supports his view. According to me I have given a satisfactory and proper reply basing on the law and practice of banking. After lapse of time against he is disturbing everybody.
ajay sethi
(Expert) 10 September 2013
repeated query
Rajendra K Goyal
(Expert) 10 September 2013
Well replied by the expert PS Dhingra ji and malipeddi jaggarao ji. Nothing more to add.
SUNIL
(Querist) 12 September 2013
I AM VERY SORRY. PLEASE DON'T MIND.
ACTUALLY MY FINANCIAL CONDITION IN RECENT TIME IS NOT GOOD.
SUNIL
(Querist) 12 September 2013
TO MR. PS DHINGRA,
NO I DON'T HAVE ANY 1000 RS DRAFT.
I HAVE 3 OLD DEMAND DRAFT
1)ONE IS NEARLY 1 AND HALF YEAR OLD
2)ONE IS 5 YR OLD
3)ANOTHER IS NEARLY 6 YEARS OLD.
Guest
(Expert) 12 September 2013
If DDs were got made on your application, you may better try to get these DDs cancelled on written application with personal request to the Bank's Manager. But except your DD of Rs.150, your request for the other two, being more than 3 years old may probably not be entertained. However, if the proceeds are stil with the bank, possibly, the bank manager may agree to acced your request.
So, try your luck with the request to the bank's manager.
Raj Kumar Makkad
(Expert) 17 September 2013
Well advised by experts so no more to add.
SUNIL
(Querist) 21 September 2013
to MR. DHINGRA,
thank you SIR.
