Duplicate receipt issuance under bank term deposit scheme: replacement on indemnity bond with limited exceptions and encashment restriction. Where a term deposit receipt is lost, stolen, destroyed, mutilated or defaced, the entitled person may apply to the issuing branch with particulars and circumstances. If the officer is satisfied, the branch issues a duplicate receipt on the applicant furnishing an indemnity bond with approved sureties or a bank guarantee. Exceptions allow issuance without sureties or guarantee for low value certificates on an indemnity bond alone, and issuance without any indemnity where a mutilated or defaced receipt is surrendered and identifiable. A duplicate is equivalent to the original but cannot be encashed at another branch without prior verification.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Duplicate receipt issuance under bank term deposit scheme: replacement on indemnity bond with limited exceptions and encashment restriction.
Where a term deposit receipt is lost, stolen, destroyed, mutilated or defaced, the entitled person may apply to the issuing branch with particulars and circumstances. If the officer is satisfied, the branch issues a duplicate receipt on the applicant furnishing an indemnity bond with approved sureties or a bank guarantee. Exceptions allow issuance without sureties or guarantee for low value certificates on an indemnity bond alone, and issuance without any indemnity where a mutilated or defaced receipt is surrendered and identifiable. A duplicate is equivalent to the original but cannot be encashed at another branch without prior verification.
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