14. Bearer Bonds-Procedure when a bearer bond is lost etc.-
(1)Every application for the issue of a duplicate bond in place of a bearer bond which is alleged to have been lost, stolen, destroyed, mutilated or defaced together with its coupons or the coupons of which are alleged to have been lost, stolen, destroyed, mutilated or defaced shall be accompanied by a registration fee of Re. 1 per bond and a statement of the following particulars, namely: -i. particulars of coupons alleged to have been lost or in the possession of the claimant, as the case may be;ii. the name of the Public Debt Office or treasury at which the bond has been registered for payment of interest;iii. the circumstances attending the loss, theft, destruction, mutilation or defacement; andiv. whether the loss or theft was reported to the police.(2)The application shall be accompanied by-(i)the Post Office registration receipt for the letter containing the bearer bond or coupons, or both , if lost in transmission by registered post;(ii)a copy of the police report, if the loss or theft was reported to the police;(iii)where the lost payment of a coupon with regard to the bond was not made by the Public Debt Office, a letter signed by the officer of the treasury at which interest was last paid; certifying the last payment of such coupon;(iv)an affidavit sworn before a Magistrate testifying that the applicant was the last legal holder of the bearer bond;(v)any portion or fragments which may remain of the lost, stolen, destroyed, mutilated or defaced bearer bond or coupons, or both; and(vi)all coupons which are in possession of the person claiming to be the owner of the bond and coupons.(3)A duplicate of the letter to the Public Debt Office but not of its enclosures shall also be sent to the treasury at which the bond is registered for payment of coupons.(4)The loss, theft, destruction, mutilation or defacement of a bearer bond or coupons, or both, shall be further notified by the applicant [in the following manner:-(a)in the case of a bearer bond of the Central Government in three successive issues of the Gazette of India and of the local Official Gazette, if any, of the place where the loss, theft, destruction, mutilation or defacement occurred, and(b)in the case of the bearer bond of a State Government in three successive issues of the Gazette of that State and if the loss, theft, destruction, mutilation or defacement occurred at a place outside that state also in three successive issues of the official Gazette, if any of such place.]Such notification shall be in the from following, or as nearly in such form as circumstances permit:-"Lost" (" stolen", " destroyed", mutilated " or "defaced" as the case may be).[bear bond No.]"The ............. of the (name of the Government concerned) per cent loan.(coupons relating to bearer bond No.)(together with coupons or without coupons) for Rs. having been lost (stolen, destroyed, mutilated or defaced ), notice is hereby given that application is about to be made to the Public Debt Office for the issue of a duplicate in favour of the undersigned.Name of person notifying.Residence."(5)Where a bearer bond is reported to be lost, stolen, destroyed, mutilated or defaced, and the coupons are in the possession of the person claiming to be the owner of the bond and coupons, the Bank shall, on the expiry of such period as the Bank may consider proper from or immediately after the date of the last notification prescribed in sub-rule (4), if satisfied that the bond has been lost, stolen, destroyed, mutilated or defaced and that the claim of the applicant is just, cause the particulars of the bond so lost, stolen, destroyed, mutilated or defaced to be included in a list such as is referred to in Rule 18 hereof and shall order the Public Debt Office to issue to the applicant a duplicate bond with coupons and to pay the amount of any coupons which may be due on the execution of an indemnity bond taken for twice the value of the bond lost, stolen, destroyed, mutilated, or defaced if an indemnity bond has not been executed under Rule 22 (8) and on the surrender of the unpaid coupons of the original bond.(6)Where both a bearer bond and its coupons are reported to be lost, stolen, destroyed, mutilated or defaced the Bank shall on the expiry of six months from the date of the last notification prescribed in sub-rule (4) if prima facie grounds exist for believing that the bond and coupons have been lost, stolen, destroyed, mutilated or defaced, and that the claim of the applicant is just cause the particulars of the bond and coupon so lost, stolen, destroyed, mutilated or defaced to be included in a list such as is referred to in Rule hereby and shall pass a provisional order requiring the Public Debt Office on the expiry of two years from the date of publication as hereinafter provided of the list in which the lost, stolen, destroyed, mutilated or defaced bond and coupons are first included and on the execution of an indemnity bond taken for twice the value of the bond and twice the value of the coupons due for payment if an indemnity bond has not been executed under Rule 22 (8) and unless reasons to the contrary appear (in which case the matter shall be referred back to the Bank )-(a)to issue to the applicant a duplicate bond with coupons, and(b)to pay the amount of any coupon which may be due:Provided that if the date on which the bearer bond is due for repayment falls earlier than the date on which the period of two years prescribed in this rule expires the Bank shall within six weeks of the former date invest the amount of the bond in the Post Office Savings Bank and shall repay this amount together with any interest which may have accrued thereon in such Bank to the applicant at the time when a duplicate bond would otherwise have been issued.(7)Where the coupons only of a bearer bond are reported to be lost, stolen, destroyed, mutilated or defaced and the bond with any coupons attached to it is in the possession of the person claiming to be the owner thereof, the Bank, on the expiry of such period as it may consider proper from or immediately after the date of the last notification prescribed in sub-rule (4) and on being satisfied that the coupons have been lost, stolen, destroyed, mutilated or defaced and that the claim of the applicant is just shall cause the particulars of the coupons so lost, stolen, destroyed, mutilated or defaced to be included in a list such as is referred to in Rule 18 hereof and shall order the Public Debt Office to issue to the applicant a duplicate bond with coupons which are not due for payment and to pay the amount of any coupons which may be due on the execution of an indemnity bond taken for twice the value of coupons due for payment and on the surrender of the bearer bond and the coupons in his possession provided an indemnity bond has not been executed under Rule 22 (8). 18(8)In making any order under this rule the Bank may direct that the indemnity bond be executed by the applicant alone or by the applicant and two sureties as the Bank may think fit.(9)A provisional order passed under the sub-rule (6) shall on the expiry of the two years referred to therein become final unless it is in the meantime rescinded or other wise altered.(10)The Bank may at any time prior to the issue of a duplicate bond if it finds sufficient reasons alter or cancel any order made by the Bank under sub-rule (5) (6) or (7) and may also direct that the interval before the issue of a duplicate bond shall be extended by such period not exceeding two years as it thinks fit.
