Demand draft

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pradeep (Querist)
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18 July 2012 hi.am joined in srm university.but i cancelled my seat.they had returned back of amount 2,00,000 as demand draft on my name.the demand draft issued on my name as pradeep kumar from city union bank of college.now i want to get back my lost demand draft.so how can i get it back.kindly help me.

CS Divya Sorayan

CS Divya Sorayan (Expert)
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19 July 2012 If you purchased the Draft for paying the amount to some one do the following:

Approach the Bank / Branch from where you purchased the draft with a written application intimating the loss of the Draft and asking them to exercise caution. [Demand Drafts cannot be stopped for payment] and issue a duplicate Draft.

Take a format of the Indemnity that the Bank will ask you to execute. Also find out the value of stamp paper on which the indemnity is to be executed.

Prepare the indemnity and provide it to the Bank/ Branch.

The Bank will arrange for issue of a duplicate, if it is still remaining unpaid at the centre on which the Draft was originally issued. It is for the Bank to find out before issuing the duplicate whether the original has already been encashed or still remaining outstanding in their books.

You will be charged some additional service charges for this.

If you are the recipient of the amount of the Draft - notify the loss of Draft/ non receipt of the Draft to the person who has purchased the draft and sent it to you. He will be required to do all the above steps as a purchaser at the Bank/ Branch from where he has purchased the draft

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