Procedure in case of insolvency or death of surety or when a bond is forfeited
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Summary
When a bond's surety becomes insolvent or dies, or the bond is forfeited, the Court or a first-class Magistrate can require the person from whom security was demanded to furnish fresh security as directed in the original order. If fresh security is not furnished, the Court or Magistrate may treat it as a default on the original order and proceed accordingly.
Example
Ravi, a shopkeeper, was ordered to furnish security for a bond with Karan as surety. Karan dies, so the Court orders Ravi to provide fresh security as the original order directed. Ravi does not provide it, so the Court treats it as a default and proceeds to enforce the original order.
Bare Act
Enacted textWhen any surety to a bond under this Code becomes insolvent or dies, or when any bond is forfeited under the provisions of section 446, the Court by whose order such bond was taken, or a Magistrate of the first class may order the person from whom such security was demanded to furnish fresh security in accordance with the directions of the original order, and if such security is not furnished, such Court or Magistrate may proceed as if there had been a default in complying with such original order.
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