It varies from bank to bank. If PO was in name of some company/organization, then they require sign and stamp of that company mentioning that payment is not required.
If it was in personal name, like i made po for car payment but party backed out, i went to bank for cancellation, they asked for cnic copy of the beneficiary alongwith sign. I had a lengthy arguement with bank manager, finally he signed the PO himself and crdited the amount back in my account.
This is very strange and ch******* ki pukh on part of bank.
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