Section 21(xv) in M.P. Nagar Tatha Gram Nivesh Niyam, 1975
(xv)Debentures which by reasons of damage sustained have become unfit for circulation shall be replaced at the request of the holder on surrendering the damaged or defaced debentures, provided that the essential marks for genuineness and identity such as the number, the amount, the rate of interest, the date and signature of the Chairman and the member of the authority are still recognizable. Fresh debentures shall also be issued to replace lost or destroyed debentures when in the opinion of the authority the fact of destruction is proved beyond doubt. When such proof is not produced or when in case of damage the essential marks on the debentures are lost and no longer recognizable or the debenture has been lost or has been misled, a new debenture may be issued only after the debenture which is alleged to be missing or unrecognizable has been advertised by the claim and in the manner specified by the authority and is not claimed by any other person.
