Demand draft

This query is : Resolved

Student (Querist)
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26 April 2012 A demand draft was issued by us to a vendor, his assistant forgot to deposit and en cash the same with his bank. 5 months have passed since the issue date?
As the bank has debited the amount from our company's account does this mean the amount is lost? OR
can the DD be renewed by paying additional bank charges?

thanks

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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26 April 2012 The amount never lost. You have to renew the DD by DD revalidation charges prescribed by the bank and then it is valid.

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