Section 11 in National Housing Bank (Issue And Management Of Bonds) Regulations, 1989
11. Issue of duplicate bond and taking of indemnity.
(1)After the publication of the last notification prescribed in regulation 10, the prescribed officer shall, if he is informed of the loss, theft, destruction, mutilation or defacement of the bond and of the justice of the claim of the applicant, cause the particulars of the bond to be included in a list published under regulation 13 and shall order the office of issue:(a)If only a portion of the bond has been lost, stolen, destroyed, mutilated or defaced, and if a portion thereof sufficient for its identification has been produced, to pay interest and to issue to the applicant, on execution of an indemnity bond such as is hereinafter mentioned a duplicate bond in place of that of which a portion has been so lost, stolen, destroyed, mutilated or defaced either immediately after the publication of the list under regulation 13 or on the expiry of such period as the prescribed officer may consider necessary from the date of the publication of the said list;(b)if no portion of the bond so lost, stolen, destroyed, mutilated or defaced, sufficient for its identification has been produced:(i)to pay to the applicant, two years after the publication of the said list, and on the execution of an indemnity bond in the manner hereinafter prescribed, the interest in respect of the bond so lost, stolen, destroyed, mutilated or defaced till the expiry of the period of four years as next hereinafter provided; and(i)if the date on which the bond is due for repayment falls either than the date on which the said period of four years expires, the prescribed officer shall, within six weeks of the former date, invest the principal amount due on the bond in the Post Office Savings Bank, or if the applicant so desires, in current Bonds issued by the National Housing Bank maturing not earlier than the date on which the duplicate is due for issue and shall repay this amount, together with any interest which may have accrued thereon in such Bank, or in such Bonds in which the investment is made, to the applicant at the time when a duplicate bond would otherwise have been issued, and(ii)if any time before the issue of the duplicate bond the original bond is discovered or it appears to the office of issue for other reasons that the order should be rescinded, the matter shall be referred to the prescribed officer for further consideration and in the meantime all action on the order shall be suspended. An order passed under this sub-regulation shall on expiry of the period of four years referred to therein, become final unless it is in the meantime rescinded or otherwise modified.(ii)to issue to the applicant a duplicate bond in place of the bond so lost, stolen, destroyed, mutilated, or defaced four years after the date of publication of the said list; provided that;(2)The prescribed officer may, at any time prior to the issue of a duplicate bond, if he finds sufficient reasons, alter or cancel any order made by him under this regulation and may also direct that the interval before the issue of a duplicate bond shall be extended by such period not exceeding four years as he may think fit.(3)Indemnities :-(i) (a) when executed under sub-regulation (1)(b)(1) shall be for twice the amount of interest involved, that is to say, twice the amount of all back interest accrued due on the bond plus twice the amount of all interest to accrue due thereon during the period which will have to elapse before the issue of a duplicate bond can be made, and(b)in all other cases shall be for twice the face value of the bond plus twice the amount of interest calculated in accordance with cl. (a).(ii)The prescribed officer may direct that such indemnity bond shall be executed by the applicant alone or by the applicant and one or two sureties approved by him as he may think fit.
