Demand draft cancellation

Querist : Anonymous (Querist) 29 June 2018 This query is : Open
I had 2 DD's made on 24th of Jan 2017 from my ICICI bank account in favor of a Pvt Ltd company. The beneficiary co. has been charged by ED and STF and their office is sealed. The DD's have been misplaced by me for which I lodged an online FIR. I contact the bank for the cancellation as the amount is with banks suspense account. The asked me for the Indemnity bond, FIR copy and NOC from the beneficiary. I have the Indemnity bond and the FIR copy but cannot obtain the NOC as the co. is sealed and the directors are in Jail with case running against them.

Pl guide me how to get the DD's cancelled.

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Kishor Mehta (Expert) 29 June 2018
For all practical purposes a D/D becomes the property of the payee once it is submitted to him, further the Bank can not release the money without an official NOC from the payee even if the D/D is with you.

Ms.Usha Kapoor (Expert) 30 June 2018
I Agree with Kishor vMehta.

Ms.Usha Kapoor (Expert) 30 June 2018
I agree with Kiishor Mehta.

Sudhir Kumar, Advocate Online

(Expert) 30 June 2018
why bank should believe that the DD has not been handed over to payee and will not be presented for payment.

Ms.Usha Kapoor (Expert) 30 June 2018
I agree with Kishor mehta and Sudhir Kumar.

Querist : Anonymous (Querist) 30 June 2018
Kishore and Sudhir... The DDs cannot be cashed as they have expired long back. Even if the bank believes that the DD is with the beneficiary, without my consent the bank cannot issue a fresh DD.. Now in such a case that the beneficiary company has been sealed.. The money is with the bank..Will the money remain with the bank

Kishor Mehta (Expert) 30 June 2018
Only a Court of Law, If satisfied of the veracity of your claim, can help you recover the amount of expired DDs.

Querist : Anonymous (Querist) 30 June 2018
Thank you Kishore.. So I guess I need to consult a lawyer to proceed

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