Legal Question in Banking Law in India
i HAVE PURCHASED A DEMAND DRAFT THR' A/C PAYEE CHEQUE OF MY SAVINGS ACCOUNT. BUT, UNFORTUNATELY, I HAVE TO CANCELL THE SAME. THE BANK IS ASKING FOR PAYEES AUTHORISATION. WHAT TO DO?
Asked on 2/23/17, 1:31 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
23.02.2017
Dear Sir / Madam,
You may obtain a "No Objection Letter" from the Payee in whose favour you have purchased the Demand Draft stating that he / she / they permit you to cancel the Demand Draft citing reason(s) for cancellation.
Regards,
Answered on 2/23/17, 6:48 am
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