12. Government Promissory Note.- (1) Procedure when a Government Promissory Note is lost, etc.-
The applications for the issue of a duplicate note in place of a Government promissory note which is alleged to have been lost, stolen, destroyed, mutilated or defaced either wholly or in part shall be accompanied by-(a)A statement of the following particulars, namely: -(i)The last half for which interest has been paid;(ii)The person to whom such interest was paid;(iii)The person in whose name the note was issued (if known);(iv)Particulars of coupons attached (if any);(v)The place for payment of interest at which the note was for the time being enfaced;(vi)The circumstances attending the loss, theft, destruction, mutilation or defacement; and(vii)Whether the loss or theft, was reported to the police; 10(b)The Post Office registration receipt for the letter containing the note, if the same was lost in transmission by registered post;(c)A copy of the police report if the loss or theft was reported to the police;(d)Where the last payment of interest was not made by a warrant issued by the Public Debt Office, a letter signed by the officer of the treasury where interest was last paid, certifying the last payment of interest on the note and stating the name of the party to whom such payment was made;(e)If the applicant is not the holder in whose name the note was originally issued an affidavit sworn before a Magistrate testifying that the applicant was the last legal holder of the promissory note and all documentary evidence necessary to trace back the title to the original holder; and(f)Any portion or fragments, which may remain of the lost, stolen, destroyed, mutilated or defaced note.(2)A duplicate of the letter to the Public Debt Office but not of its enclosures shall also be sent to the treasury where interest is payable.(3)The loss, theft, destruction, mutilation or defacement of a Government promissory note or portion of a Government promissory note shall be further notified by the applicant [in the following manner:-(a)in the case of a promissory note 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 a promissory note of a state Government in three successive issues of the Official Gazette of the State concerned and if the loss, theft destruction mutilation or defacement occurred at a place of outside that State also in three issues of the Official Gazette, if any, of such place]Such notification shall be in the form following, or as nearly in such form as circumstances permit-"Lost" ("stolen","destroyed","mutilated"or"defaced"as the case my be)The Government promissory note No. .............of the per cent loan of............. for Rs.............,originally standing in the name of.............and last endorsed to.............the proprietor by whom it was never endorsed to any other person having been lost (stolen, destroyed, mutilated, or defaced) notice is hereby given that payment of the above note and the interest thereupon has been stopped at the Public Debt Office, and that application is about to be made for the issue of a duplicate in favor of the proprietor. The public are captioned against purchasing or otherwise dealing with the above mentioned security.Name of person notifying.Residence"(4)(b)After the publication of the last notification prescribed in sub-rule (3) of this rule, the Bank shall, if it is satisfied of the loss, theft, destruction, mutilation or defacement of the note and of the justice of the claim of the applicant cause the particulars of the note to be included in a list such as is referred to in Rule 18 hereunder, and shall order the Public Debt Office.(a)If only a portion of the note has been lost, stolen, destroyed, mutilated or defaced and if a portion of the note sufficient for its identification has been produced to pay interest and to issue to the applicant on the execution of an indemnity bond such as is hereinafter mentioned a duplicate note in place of that of which a portion has been so lost stolen destroyed mutilated or defaced and on the expiry of such period as the Bank may consider necessary from or immediately after the date of the publication of the said list,(b)1f no portion of the note so lost, stolen, destroyed, mutilated or defaced sufficient for its identification has been produced-(I)To pay to the applicant 6 months after the publication of the said list and on the execution of an indemnity bond in the manner hereinafter prescribed the interest in respect of the note so lost, stolen, destroyed, mutilated or defaced till the expiry of the period of [three years] [Substituted by S.R.O. 1475, dated 28.7.1953] as hereunder and(i)If the date on which the note is due for repayment falls earlier than the date on which the said period of [3 years] [Substituted by S.R.O. 1459, dated 29.4.1954] expires the Bank shall within six weeks of the former date invest the principal amount due on the note in the Post Office Savings Bank unless before the expiry of such period the applicant has made specific request for the investment of the amount in securities of any of the current rupee loans of the [* * * *] [Omitted by No. 8(12)B/49, dated 23.10.1949] Government maturing not earlier than the date on which the duplicate is due for issue and in that case shall invest the amount in such securities and deposit the balance if any left after such investment in the Post Office Savings Bank. It shall repay the amount invested in the Post Office Savings Bank together with any interest which may have accrued thereon and, if any investment has been made in Government securities shall deliver such securities, together with the interest accrued thereon to the application at the time when a duplicate note would otherwise have been issued, and(ii)if at any time before the issue of duplicate note the original note is discovered or it appears to the Public Debt Office for other reasons that the order should be rescinded the matter shall be referred to the Bank for further consideration and in the meantime all action on the order shall be suspended. An order passed under this sub-rule shall on expiry of the two years referred to therein become final unless it is in the meantime rescinded or otherwise modified.(II)To issue the applicant a duplicate note in place of the note so lost, stolen, destroyed, mutilated or defaced two years after the date of publication of the said list; provided that-(c)If the note has been lost by enemy action to pay interest and to issue to the applicant on the execution of an indemnity bond as is hereinafter mentioned a duplicate note immediately after the date of the publication of the said list.(5)The Bank may at any time prior to the issue of a duplicate note, if it finds sufficient reason alter or cancel any order made by the Bank under this rule and may also direct that the interval before the issue of a duplicate note shall be extended by such period not exceeding [three years] [Substituted by S.R.O. 1459, dated 29.4.1954] as it may think fit.(6)Indemnity bonds - (i)(a) When executed under sub-rule (4) (b) (I) and not under Rule 22 (8) shall be for twice the amount of the interest involved that is to say twice the amount of all back interest accrued due on the note plus twice the amount of all interest to accrue due thereon during the period which will have to elapsed before the issue of a duplicate note can be made, and(b)In all other cases shall be for twice the face value of the note plus twice the amount of interest calculated in accordance with clause (a).(ii)The bank may direct that such indemnity bond shall be executed by the applicant alone or by the applicant and one or two sureties as it may think fit or that in lieu of furnishing personal sureties the applicant shall furnish collateral security in the shape of Government securities to be deposited with it for such amount and period as it may think fit.
