Determination of person entitled to a Bond
9. (1) If the Bank is of opinion that a doubt exists as to the title to a Bond or in cases of the Bonds to which clauses (i) or (ii) of sub-section (2) of section 8 apply, the Bank may determine the person in the manner hereunder as being entitled in its opinion to the Bond and payment of all accrued and accruing instalments and may by its order vest title in such person accordingly.
(2) The person claiming to be entitled to a Bond or to payment of accrued and accruing instalments due thereon shall apply to the Bank and adduce documentary evidence in support of his claim.
(3) On receipt of the application by the Bank, the Bank, if it contemplates making a vesting order, may, if it considers proper, request a District Magistrate to record or to have recorded the whole or any part of such evidence as any person whose evidence the Bank requires may produce or direct one of its officers to record such evidence or may receive evidence upon affidavit. Nothing herein shall preclude the Bank from determining title without enquiry in the manner laid down in this sub-section.
(4) The Bank shall thereafter give notice in writing to each claimant of whom it has knowledge stating the names of all other claimants and the time when and the officer of the Bank by whom the determination of title will be made.
(5) On the date and at the time fixed in the notice, the officer shall-
(i) examine the evidence adduced by the parties;
(ii) hear the parties affected and record such evidence as they adduce:
Provided that no further evidence shall be recorded or entertained in cases where the District Magistrate has been requested to record or to have evidence recorded, or the Bank has directed one of its officers to record the evidence; and
(iii) determine the issue as to who is entitled to the Bond.
(6) After determination of the issue by the officer, the Bank shall give to each claimant notice in writing of the determination so made.
(7) The notices under sub-sections (4) and (6) shall be published in three successive issues of the [* * *] official Gazette as soon as possible after the date on which they are respectively issued.
(8) The Bank may require the person considered by the Bank as being entitled to the Bond or to instalments due thereon to execute a security bond in the prescribed form with one or more sureties or to furnish security not exceeding twice the value of the subject-matter of the order, to be held at the disposal of the Bank, to pay to the Bank or to any person, to whom the Bank may assign the security bond or the security in furtherance of sub-section (2) of section 13 of this Act, the amount thereof.
(9) On the expiry of six months from the publication under sub-section (7) of the notice issued under sub-section (6), the Bank may make an order vesting the Bond and any instalments due thereon in the person found by the Bank to be entitled thereto.
(10) Notwithstanding anything contained in this section, the Bank may vest-
(a) title limited to drawal of instalments in guardian of a minor or a manager of the property of an insane person, and
(b) full title in the minor or the insane person to take effect on the minor attaining the age of majority or on the insane person becoming sane.