Demand draft revalidation

robin (Querist) 19 August 2013 This query is : Resolved
I purchased a demand draft 15 years ago.
I never used it.

shall bank revalid the demand draft now?

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prabhakar singh (Expert) 19 August 2013
Visit the bank to check if they are ready for otherwise your claim through court is time barred 5 times,where as a day late is enough to reject a time barred plaint.

Guest (Expert) 19 August 2013
You will have to forget it. Bank is not likely to entertain your request after 15 years. Even legally, your claim could have been valid within three years only.

By the way, what is the face value of the DD?

ajay sethi (Expert) 19 August 2013
it would be barred by limitation

Rajendra K Goyal (Expert) 19 August 2013
It is time barred.

If the Branch of the Bank is able and oblige to trace the old records (Generally vouchers are kept for 5 years)this may be re-validated. Again the paying Branch will have to search all its record whether duplicate issued have been paid or not.

If the amount is considerable, you can try.

R.K Nanda (Expert) 19 August 2013
not possible now.

robin (Querist) 20 August 2013
draft was of RS 1000 that time.

what is meant by "time barred"?

is cancellation of draft is also impossible now ?

is revalidation and cancellation both impossible now?

Guest (Expert) 20 August 2013
Time-barred denotes that a person is barred of any right on account of non-action for the priod prescribed under the law of limitation.

Once draft expires its validity period that becomes invalid that means the instrument is dead, invalid or cancelled for the purpose of honouring that, as a live, bonafide, legal, or legitimate document.

ajay sethi (Expert) 20 August 2013
you have woken up from your slumber AFTER 15 YEARS . you cnannot cancel or revalidate DD now

V R SHROFF (Expert) 04 November 2013
U lost ALL RIGHT OF DD

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