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State of Uttar Pradesh - Section
Section 426 in The General Rules (Civil), 1957
426. Examination of adequacy of securities.
- The adequacy of all securities shall be examined every year between April and June 30 and a report made to the High Court in Form B soon after the examination. When it appears to the District Judge that the value of security has from any cause become insufficient, he shall call upon the official for whom such security was furnished to furnish adequate and sufficient security within a definite time and he shall in the meantime obtain a personal bond with sureties for the deficiency of the security. [A mortgage security may be considered sufficient if it is a first mortgage of immovable property situated in India : provided that the property be not a lease-hold for a term of years, and that the value of the property exceeds by one-third of the amount secured] [Inserted by Notification No. 88/VIII-b-1, dated 31 May, 1961, (w.e.f. 9-6-1962).]. When there has been no mutation of ownership or sensible depreciation of the property pledged, it will be unnecessary to renew the security bond. A note of the result of the verification should be made in column 7 of Form No. 2-F given in Chapter XXIII, Rule 546.Form BAnnual report regarding security bonds of public accountants| District | Name of public accountant and office held by him | Amount of security given | Security bond where lodged | Have the provisions of the rules been dulyobserved | Remarks | |
| Value in pronotes or cash and notes or cash wherelodged | Value in landed property and when last verified | |||||
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