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8(b). According to him, whether there is a fraud committed by the applicant's customer in collusion with the second respondent is a matter which cannot be decided in the absence of the said customer of the applicant. Even if there is any remedy available to the applicant towards the second respondent against whom an allegation of fraud is made, the Official Liquidator cannot be made responsible for the same. Once the demand drafts were forfeited, the transactions stood completed. The applicant company having paid the amounts under the demand drafts had no right to stop payment.

(4) ordinarily, a bank issuing a draft cannot refuse to pay the amount thereof, unless there was some doubt as to the identity of the person presenting it as being or properly representing the person in whose favour it was drawn, or in other words, unless there is reasonable ground for disputing the title of the person presenting the draft; and (5) once the draft has been delivered to the payee or his agent, the purchaser is not entitled to ask the issuing bank to stop payment of the draft to the payee on other grounds such as matters relating to consideration, and the issuing bank can thereafter pay back the amount of the draft to the purchaser of the draft only with the consent of the payee."