Our Recommendations :-
Follow CA Final FB Page

What happens if you lose a bank draft cheque?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Pinky asked about 3 years ago

    0       0 Answer Now Comment Report
3 Answers
Open uri20170510 32134 1ue0f38?1494421710 rohit agarwal answered about 3 years ago

Dear Pinky, If you lose a bank draft, then the duplicate of the same can be obtained by the bank. First and foremost step to be taken by the purchaser is that he/she should inform the issuing branch immediately regarding loss of demand draft giving full particulars thereof in order to prevent misuse thereof. The standard procedure let down by State Bank of India is as follows. The procedure for issue of duplicate demand drafts by other banks are more or less same. In respect of lost demand drafts, duplicate drafts for amounts above Rs 10000/-(in cases where there is no reason to doubt the bonafides of the applicant) shall be issued by the issuing branches on receipt of confirmation of non payment from the drawee branch and on execution of stamped letter of indemnity with two sureties good for the amount involved. For issue of duplicate drafts up to Rs.10, 000/- requirement of the relative non-payment certificate from the other branch is waived. For issue of duplicate drafts below Rs.1,000/-, only indemnity letter will be necessary.

    5       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered about 3 years ago

As soon as find out that you have lost the demand draft issued by the bank, please notify the branch of the bank which issued the same. They will verify whether the same has been encashed. On submission of an indemnity signed by you, ( sometimes they may require to be signed by the payee of the draft also) on a stamped paper, the bank will arrange to issue a duplicate demand draft. This whole process, may take about a week, depending on the effeciency of the bank.

    1       0 Comment Report
Picsjoin 2017224123730582 Archana answered about 3 years ago

Hie Pinky, As soon as find out that you have lost the demand draft issued by the bank, please notify the branch of the bank which issued the same. They will verify whether the same has been encashed. On submission of an indemnity signed by you, ( sometimes they may require to be signed by the payee of the draft also) on a stamped paper, the bank will arrange to issue a duplicate demand draft. This whole process, may take about a week, depending on the efficiency of the bank.

    0       1 Comment Report
Similar Questions
Get Notifications
Videos
Books
Notes
Loading
SIGN UP
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.