Did you lose the Demand Draft issued from any Indian bank? Did the recipient lose the Demand Draft? Did you lose the Demand Draft in transit by Post Office? continue reading……My experience when I lost Rs.7000/- DD
I have lost a Demand Draft which was issued from my ICICI NRE account in Andhra Pradesh. The manager at the bank where the DD was issued told me that, in order to cancel a Lost DD they have to issue a duplicate DD first and then cancel the duplicate DD. For that, I need Rs. 140 India Non Judicial Stamp Paper from the Revenue Office (the value defers state to state, please check with your branch directly) and that I have to write in a predefined template (attached below) of theirs for canceling the DD along with the signatures of 2 sureties on all the pages of the stamp Paper.
The predefined template consists of three pages as shown above, first one consist of two pages, it is called INDEMNITY BOND which basically says that you have lost the Demand Draft and you wont hold ICICI bank responsible for any loses they may incur and the second one is Beneficiary NOC, this part has to be filled by you or the company (receiving party) assuring the bank that they do not have the draft etc. All these templates has to be written/typed on the stamp paper.
Overall, I would say not to lose the DD in the first place and if it is lost, best resort is to contact the branch manager directly who issued the Demand Draft, since each branch has their own requirement and templates.
My refund got credited in a week. They deducted Rs.110 for reissuing the Duplicate Demand Draft and I was told by the branch manager that last time when they did the similar case, it took around 4 months for cancellation.
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- JYHZ
I HAD PURCHASED A D.D FOR A UNIVERSITY 15/01/2016 AND SENT IT THROUGH VIA SPEED POST. BUT THE UNIVERSITY HAD DENIED.. YOU DONT SENT ME ANY DD. I felt that they cheated me and now I want to cancel the DD . is it possible for me ta cancel it NOW.
I purchased a DD and given to drawee but after giving them I felt that they cheated me and now I want to cancel the DD . is it possible for me ta cancel it
please send e indmnity bond
Has anyone heard of a bank named ING Vysya Bank.? Demand Draft was drawn and before it was handed over to the drawee., it was lost. ING bank told to draw an indemnity on a stamp paper of Rs. 200. After that, the bank said that the money can be credited only after the expiry of the validity period of the Demand Draft. On insistence, they asked to produce a copy of FIR. Scarp people and horrible systems.
Unfortunately this is the system we are dealing in India. All most all banks are same. They have to follow this procedure. On the other hand I would have said that I can’t find the DD.
Dear Sarjak,
It is true that bank requires an Indemnity bond for lost DD form you, but the commitment of the bank for crediting the amount of DD after validity expired is not acceptable. The demand draft can even be cancelled before validity expired. After the validity expire, the DD automatically be cancelled.