Revalidation of demand draft

You have posted that:

 

"The DDs were deposited into our accredited Bank within validity period.'

In such case bank can not return these. You may relate the date on DD and deposit slip.

 

 

 

Its true that banks cannot return the demand draft in this case. How come the exporters are not to be found? You may be having their address etc.If not then dd issuing bank/branch can help you locate their address phone number, if issued by cash deposit then the voucher would contain the address. However banks wont part this information as a general inquiry.

Originally posted by : Amitava
	As a Govt. Organisation we got a few DD/Pay Order from different Exporters/Importers as Inspection fee. The DDs were deposited into our accredited Bank within validity period. However, after somedays bank returned a bunch of DDs citing expiry of validity period. Now, we can't find the Exports/Importers to do the revalidation of instruments. In this position, please confirm about how to gets the pay-orders/ DDs revalidated officially?

However, after somedays bank returned a bunch of DDs citing expiry of validity period

Ther eis a need to fix responsibility for fixing responsibility either for (i) accepting stale DDs. (ii) delay in deposit in Bank (iii) inspection of non-existing exporter.

 

Deep routed corruption is apparent.

You have posted that:

"The DDs were deposited into our accredited Bank within validity period."

 

IN that you abd your bank is not at fault.

You have full rights ( if you have posted thruth) to transfer the onus on the Bank that has returned the DD's, unpaid.

 

 

 

 

 

You would have presented the cheque at your own bank. It would have got returned by the bank which issued the draft, which may be the bank of the exporter. You have no hold on the other bank. If the return of the cheque was due to a fault on the part of your bank, then it would amount to deficiency of service and you can go to consumer court. If the cheque was presented at the paying bank within the vaidity period then NI:138 would be attracted. In the case of demand draft the exporter would not be drawer of the cheque. I do not know whether banks themselves are liable under section 138. In any case the civil liability of the exporter would always be there. But you can take action only if you are able to trace hm.