Demand draft refund

This query is : Resolved 
 

(Querist)
20 March 2018

I have given a demand draft to a company on jan-2017, but after few weeks the company was banned by some legal issue, my demand drat which was submit to that company is still not withdraw / cashed as on mar-2018. please advice me what i have to do to get my money refunded.. i already complaint to bank but they are saying that the refund can be done by presenting the original demand draft. please suggest me what i have to do..



SHIRISH PAWAR, 7738990900 (Expert)
20 March 2018

Bank has rightly said to produce the original demand draft. You can ask the company to whom demand draft given to return back the same.

Vikram Singh (Querist)
20 March 2018

thank for your reply sir, but the company is closed and no body is there to ask any thing, I collected some other information about the company from area police station as :-
- the company is banned for some money laundering activities,
- the case is under CBI delhi,
- The company all account were freezed.
but some of the people said that as the my Demand draft amount is not transferred to the company ac and the company is fraud , so that the demand draft can be hold and refund by legal procedure..

Vikram Singh (Querist)
20 March 2018

thank for your reply sir, but the company is closed and no body is there to ask any thing, I collected some other information about the company from area police station as :-
- the company is banned for some money laundering activities,
- the case is under CBI delhi,
- The company all account were freezed.
but some of the people said that as the my Demand draft amount is not transferred to the company ac and the company is fraud , so that the demand draft can be hold and refund by legal procedure..

Vijay Raj Mahajan (Expert)
20 March 2018

Contact CBI Delhi for getting the bank draft back as that's your property which was wrongly sealed/seized by them along with other properties of the Company.
If that's not done move the court where criminal complaint case against the company is pending for getting order of the court to release your bank draft in possession of CBI the investigating authority in matter.

N.J.S.Rajkumar alias narasimha (Expert)
20 March 2018

Are you sure that your Particular Draft was ceased by the Dept. First confirm it thro a Letter Registered Post thro an Advocate. If you do not get a reply in 15 days. you could treat it as Lost and get it cancelled with your bank and the amount would be transferred to your bank.account. You need not discuss about other issues with the Bank which could complicate the matter. If at all the Dept gives a reply as Yes meet them in person and claim for the refund .

N.J.S.Rajkumar alias narasimha (Expert)
20 March 2018

Normally any Bank Demand Draft is Valid for 3 months Only( Please Confirm ) and if it was not encashed with in that time it would be invalid and you could claim refund.directly from the bank

Kumar Doab (Expert)
20 March 2018

Same Query;

http://www.lawyersclubindia.com/forum/details.asp?mod_id=168678&offset=1



You could have posted same facts in both threads in intiial posts itself..


You may try your luck, but success is unsure, as a Demand Draft is an instrument, which is payable on demand of the party named in that. Once that is deposited with the party that becomes the property of the person in favour of whom drawn. You cannot withdraw that without the express permission of the party.

So, you were entitled to cancel the DD to get its refund before deposit with the company by surrendering the same in original to the bank concerned. If the DD is also seized by the CBI that can also not be claimed to have been lost by making false statement.

However, out of ignorance about the banking laws, if the CBI officials do not present the instrument within the validity date of the DD with order to the bank to credit the amount of the DD in to the company's account for the purpose of taking note of the nature of transaction for the purpose of investigation, only then you can try your luck to get the amount of DD refunded after FIR with the police, but by submitting an indemnity bond also to refund the amount, if claimed later by the company or the CBI for and on behalf of the company. otherwise, you will have to forget that. But still FIR on false ground of loss of DD can at any time bounce back on you if the CBI comes to know about your claim back of the seized instrument with tainted transaction with the company.

Rest depends upon your own wisdom.

Kumar Doab (Expert)
20 March 2018

You have not clarified what online jobs you wanted this company to perform for you!

If you have written record to establish nothing outside purview of law leading to become illegal was wished by you then you may very well consider to act to get your money back...

Sudhir Kumar (Expert)
21 March 2018

bank's stand is correct.

You have already been explained other legal options.



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