(1)Where there is a dispute as to the title to a Government promissory note in respect of which an application for renewal has been made, the prescribed authority may-(a)where any party to the dispute has obtained a final decision from a Court of competent jurisdiction declaring him to be entitled to such note, issued a renewed note in his favour, or(b)refuse to renew a note until such final decision is made, or(c)after such inquiry as is hereinafter provided and consideration of the result thereof, declare by order in writing which of the parties is in his opinion, entitled to such note and after the expiration of three months from the date of such order in writing issue a renewed note in his favour in accordance with section 10, unless within that period he has received notice, in writing that a suit or proceeding has been instituted by any person in a Court of competent jurisdiction for the purpose of establishing a title to such note.Explanation. - For the purposes of this sub-section, the expression 'final decision' means a decision which is not appealable or a decision which is appealable but against which no appeal has been filed within the period prescribed by law.
