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I have issued a DD for an institute around 20 days before and now they returned the DD because managers signature were not there.could you tell me what is the procedure to reissue/cancel it and what will be the fine
Tags: dd, due, missing, reissuecancellation, signature
If you want to cancel a draft which is with you it is a simple procedure. Just make a letter to the bank stating cancellation details, signed by authorized signatory, attach Demand draft (if DD is Lost, attach the acknowledgement of DD Challan) and the bank will transfer the fund to your account. It may be noted some banks have prescribed format for DD cancellation. If you are not an account holder with the bank you still can cancel it by producing the counter-foil/receipt but the bank will charge a small fee for this. Be ready with some form of identification proof in case some overly cautious bank clerk asks you to prove that you are indeed the person whose name is on the counter foil.
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Latest activity: 13 years ago. This question has 1 answers.