Loss of NSC pledged to Bank while in custody of Bank I pledged 5 no NSCs…

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Loss of NSC pledged to Bank while in custody of Bank
I pledged 5 no NSCs totalling Rs. 4000o/- to Bank. The NSCs were lost while in custody of Bank. Bank is insisting me to sign and Indemnity bond in favour of the Postal department for issue of duplicate NSCs. Shall I sign the same or there is any other procedure?

4 thoughts on “Loss of NSC pledged to Bank while in custody of Bank I pledged 5 no NSCs…”

  1. Re: Loss of NSC pledged to Bank while in custody of Bank
    the procedure depends on the circustances.

    in the given circumstances the bank is liable to indemnify you but may seek some documents from you and its not possible to advice from here.

    For further detailed advice please contact personally. Consultation charges will apply.

    G. M. Gupta
    gmguptaandassociates
    61, paschim vihar extn
    New Delhi, NUS 110063

  2. Re: Loss of NSC pledged to Bank while in custody of Bank
    Since the NSC’s are lost in custody of the bank. Bank has to request you by letter, to complete the process of issuance of duplicate from postal department.

    on the pretext of the banks letter you can execute indeminity bond infavour of Postal department.

    Panduranga Acharya
    J & P Associates, Advocates & Solicitors
    No. 43, I Floor, Siddappa Complex, Mudalapalya, Near Vijayanagar
    Bangalore, NUS 560072

  3. Re: Loss of NSC pledged to Bank while in custody of Bank
    No problem if you sign I Bond.

    Alok Sharma
    Alok Sharma & Associates
    378, Western Wing, Tees Hazari Courts, Delhi India
    Delhi India, ID 110007

  4. Re: Loss of NSC pledged to Bank while in custody of Bank
    Yes You sign it.You can directly write to postal deparment for a duplicate one.

    birendra dash
    dash associates
    c/o hotel laxminivas,gole bazar
    Sambalpur, IN xxxxxxxxxx

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