if demand draft is unpaid for many years then what happens?
if it is unpaid is it become bank's money after some years?
SUNIL (SOFTWARE ENGG) 09 September 2013
if demand draft is unpaid for many years then what happens?
if it is unpaid is it become bank's money after some years?
Prasun Chandra Das (Banker) 09 September 2013
Why did you post this under "Property Law" forum ???!!!
Like chqs, demand drafts/pay orders have a definite validity period, normally 6 or 3 months from date of DD/PO, or as per validity period as written on the DD/PO. After that the DD/PO expires/becomes stale and like chq, cannot be passed by the paying bank.
SUNIL (SOFTWARE ENGG) 09 September 2013
if it is unpaid is it become bank's money after some years?
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 10 September 2013
yes. it will be bank property
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