Based on the facts stated by you, your concern is entirely legitimate. In mutual consent divorce matters, the safest practice is generally to link the payment of the settlement amount with the recording of the second motion and passing of the final decree, unless the settlement specifically requires payment at an earlier stage.
As regards your first question, there is no universal rule that a Demand Draft must be deposited a fixed number of days before the final hearing. Different Family Courts follow different administrative practices. However, if a DD is prepared in the name of your wife, it is common for the husband to hand it over in court on the date of second motion itself after both parties affirm their consent. If a DD is prepared in favour of the court, it is generally deposited pursuant to a specific court direction. Merely because the counselor suggests an earlier deposit does not automatically create a legal obligation to do so.
Regarding your second question, a counselor ordinarily facilitates settlement and reconciliation. A counselor's verbal suggestion does not carry the same binding force as a judicial order passed by the Family Court. Unless there is a written order of the court directing you to deposit the settlement amount by a particular date, you may respectfully state that you are willing and ready to honour the settlement but would prefer the exchange of money and articles to take place contemporaneously with the second motion and final disposal of the case. This is a common concern in mutual consent divorces because either party can withdraw consent before the decree is granted.
Your apprehension is particularly relevant because, until the second motion is recorded and the decree is passed, either spouse generally retains the right to withdraw consent. Therefore, if the entire settlement amount is handed over months in advance and the other side subsequently refuses to proceed, recovery may become a separate legal dispute.
As regards the third question, there is generally no legal prohibition on obtaining a Demand Draft one day before the hearing. In fact, many parties obtain the DD a few days before the hearing to ensure validity and ease of presentation before the court. The important aspect is compliance with any specific direction of the Family Court. If the court itself has not fixed a deadline, you may request that the DD be handed over on the date of second motion after statements are recorded.
From a practical standpoint, many settlements are structured as follows: the husband brings the DD on the second motion date, both parties make their statements affirming consent, and immediately thereafter the DD is handed over in court and acknowledged on record. This minimizes the risk to both sides.
Therefore, before making any payment, carefully review the terms of the settlement agreement/MOU. If the MOU does not require advance payment and there is no written court order directing deposit before August 2026, you can reasonably insist that the settlement amount and return of belongings be exchanged at the time of the second motion proceedings and final decree. It would also be advisable to have your advocate place this concern on record before the court rather than relying solely on verbal discussions with the counselor.