Section 12 in Public Debt (Compensation Bonds) Rules, 1954
12. Indemnity Bonds.-
In cases to which section 9, 10 or 12 of the Act applies, the Bank may require any person considered by the Bank as being entitled to a bond to execute a security bond in Form C, with one or more sureties or to furnish security not exceeding twice the value of the subject-matter of the order, with one or more sureties or to furnish security not exceeding twice the value of the subject-matter of the order, to be held at the disposal of the Bank to pay to the Bank or to any person to whom the Bank may assign the security bond or security in furtherance of sub-section (2) of section 16 of the Act, the amount thereof.
