ok , let me clarify.
1. The previous book is definitely torn apart , but when you surrender the original book , if you cannot , you must submit the FIR , and then they issue you a new book , with a DUPLICATE stamp on it.
now here goes the value down.
so theres a difference , in getting a new book , and a duplicate book.
2. My personal experience is of doing all the documentation part of 40 cars , and NO m not a dealer.
it was just that one of my friend had made some deal with the VP of EFU ,
they had some recovered /accidented /lost books/ lost plates vehicles.
now the problem he was facing was that , clearance letter for every car was being given by the bank , some of the cars had books too.
but some had missing books /plates.
( as if some one doesn't pay the bank the installments , they take away the car and the book stays with the owner)
and he needed some inside contacts , to get through , in which i helped him. i took care of all the documentation part.
for eg.
we bought an ALTO 2007 , for 330000 ( minor accident /lost book ) clearance letter from bank available.
spent 20k on it + 35k for book , and sold it for 425.
the market for an ALTO 2007 is nowhere less then 525-540
i dealt with rent -a car owners , dealers and normal buyers , and this was the formula being used every where for such cars.
you are lucky to have been able to sell a duplicate book car as per a normal book market.
seriously.