regarding revalidation of old DD s

R.Padmavathi (Querist) 10 March 2015 This query is : Resolved
Sir,I have old DDs drawn in favour of Greater Visakhapatnam municipal corporation and misplaced them and found now.I contacted the bank people either to encash or revalidate the DDs but they refused to do so as they want me to produce the old employee who signed for the DDs but the employee left the job long back and cannot be traced.Help me find the solution in this issue.Iam ready to produce a notary copy or indemnity bond to the bank.Kindly help me to solve this issue.

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venkatesh Rao (Expert) 10 March 2015
There would be nothing wrong in re-validating the DD's. The bank would be right in demanding the presence of person or employee who signed the form for getting DD if the DD is now sought to be encashed.

Guest (Expert) 10 March 2015
When you don't have the original DDs, how you cn expect them to be revalidated in the absence of the DDs. You have to lodge a police report for loss of DDs and submit to the bank along with the indemnity bond. You are not required to produce the employee signing the DDs.

T. Kalaiselvan, Advocate (Expert) 11 March 2015
How old is the DD and whether non realisation has been confirmed?, If bankers do not cooperate you may write to the higher officials of the bank and if that too fails to invoke response, write to banking ombudsman for relief.

Rajendra K Goyal (Expert) 11 March 2015
The Bank should re-validate the drafts.

For cancellation of the drafts the applicant can only claim the cancellation. If the drafts were purchased by debit to firm account and the employee has signed as representative of the firm, Bank may entertain the request of the firm.

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