(1) When a Government security except in the form of [a treasury bill or a prize bond or a Defence Certificate], becomes due for payment of principal the security in the form of -
(a) a Government promissory note
(b) stock for which certificates are issued
(c) a promissory note issued in Form I and
(d) a bearer bond.
(e) a Treasury Saving Deposit Certificate [(f) a Defence Deposit Certificate] Shall be presented at the office at which the interest on the security is payable or at the Public Debt Office of domicile and signed except in the case of a bearer bond by the holder on its reserve. In the case of bearer bonds coupon or coupons, if any for the half-year succeeding the date of payment of the principal shall be surrendered with the bond or bonds. In the case of stock held in the Subsidiary General Ledger Account, payment of the discharge value shall be made by a pay order issued by the Public Debt Office at which the stock is registered on receipt of a prior demand by the account holder and the acquaintance form duly completed by him.
(2) a treasury bill shall be duly discharged by the holder on maturity and presented at the office of issue.
(3) A prize bond shall be presented for payment on maturity at the Public Debt Office or at any office referred to in Rule 10 [(3A) A Defence Certificate shall be duly discharged by the holder on maturity and presented for payment at the Public Debt Office, New Delhi.]
[(4) If the Public Debt Office is of the opinion that a doubt exists relating to the title to a Government security, it may require the claimant to execute a bond in Form V with one or more sureties approved by the Public Debt Office, or to furnish security not exceeding twice the value of the security, 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 bond or security, the amount thereof.]
[25A. Disposal of Securities which have been repaid, renewed converted, etc.- A Government Security in respect of which a duplicate security or a new security has been issued or which has been discharged by payment may be perforated, punched cut or otherwise disposed of by the Bank in such manner as the Bank may consider necessary to ensure that the original security is not misused.]