Section 7(6) in The M.P. Housing Board Regulations, 1977
(6)Return of security deposit and security bond when an employee is transferred. - When an employee who has furnished security in one office is transferred to another office under the control of the Board, the security shall be retained by the first office until the period specified in the security bond has expired, so that any amount ordered to be recovered during that period in respect of his service in the first office may be re-covered from him. On the expiry of the specified period the employee who took the security shall release it from the pledgee in his favour and pass it on to the head of the office to which the employee has been transferred, requesting him to return it to the pledger to get a fresh security bond executed by him and to have the security duly pledged in favour of the proper authority to the extent necessary.The pledger's acknowledgement mentioned above shall, however, invariably be obtained and sent to the head of the first office.The head of the office to which the employee is transferred shall require him to furnish security at once for any amount by which the security required for the new post exceeds that furnished for the former post. Apart from that, he may, if he considers the original security sufficient; wait for it to be passed on and duly pledged against and need not require the employee to furnish fresh security. He shall ascertain from the head of the office from which the employee is transferred, what amount of security he furnished therefor before it is passed on, and shall then decide whether that security will be sufficient or whether the subordinate shall be required to furnish security for the whole or any part of the amount.
