Section 239(6) in The Navy (Pay And Allowances) Regulations, 1966
(6)The officer shall complete the mortgage bond (vide Appendix X1-C) within one month from the date of drawal of advance in the presence of the commanding Officer of the ship or Establishment or other similar authority and another officer, hypothecating the vehicle to the President of India as security for the advance and forward the same accompanied by a cash receipt and the bill for the purchase of a conveyance to the Controller of Defence Accounts (Navy) Bombay, for scrutiny that the advance has been utilised for the purchase of conveyance within the prescribed period and that the 'actual price' as defined in regulation 239 (4) is not less than the amount of the advance. The cash receipt and the bill shall be returned to the borrower through the Commanding Officer of the Ship or Establishment.
