GENERAL PRINCIPLES - Shivaji University

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CHEQUES LOST OR MISPLACED
1.75 If the cheque is lost or misplaced by the payee, the bank concerned shall be
advised immediately to stop payment thereof. Normally a fresh cheque shall be
issued only after the expiry of the period of six months from the date of issue of
the cheque. Should the payee, however, desire the cheque to be issued to him
earlier, it shall be issued only after the receipt of the advice from the bankers to
the effect that they have taken note of the instructions to stop payment and on
obtaining from the payee an indemnity bond duly executed by him.
1.76 If the cheque is, however, lost in transit, a fresh cheque may be issued to him
merely on the strength of a simple undertaking to be given by him after the advice
of stop payment is received from the bank. In all cases, before a fresh cheque
is issued the original cheque shall be reversed and proper entries made in the
cheque reversed register. The indemnity bond or the undertaking, as the case
may be, shall be attached to the fresh voucher which shall contain the folio
number of the cash book as also that of the cheque reversed register.
PAYMENT IN CASE OF DEATH
1.77 In case of death of the payee, the amount payable, shall be paid to his legal heirs.
The claimant shall be asked to furnish the office with a certified copy of the
Probate/Succession Certificate/Letters of Administration, if any, obtained by him
together with the original one which shall be returned to him after verification. In
case he has not obtained any representation to the estate of the deceased, his
attention may be invited to the following procedure-
(a) Where the amount payable is less than Rs.10,000/- the same may be paid to
the legal heirs of the deceased or to one heir if authorised by all the other
legal heirs of the deceased, on the strength of a certificate that they are the
sole legal heirs, issued by a Tehasildar, Government Gazetted Officer, Special
Executive Magistrate or a Registrar/ Head of the Department (in case of the
employee) and an indemnity bond duly stamped and executed by all the heirs.
(b) Where the amount payable is over Rs.10,000/- but less than Rs.50,000/-, the
payment of the dues may be made to the legal heirs of the deceased or to one
heir if authorised by all the other heirs on an indemnity bond being executed
in favour of the University on a stamped paper of the requisite amount by all
the legal heirs of the deceased and two approved sureties and he shall be
requested to furnish the office with an indemnity bond in the prescribed form
executed in favour of the University on a duly stamped paper together with a
certificate from a Tehasildar, Government Gazetted Officer, Special Executive
Magistrate or a Registrar/Head of the Department (in case of the employee)
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