In Brief
The Supreme Court heard appeals by the Superintendent of Post Office, Bolangir against orders awarding maturity value of lost Indira Vikas Patras (IVPs) to claimants. The IVPs, purchased for cash, operated as bearer instruments with no identity recorded. Rule 7(2) of the Indira Vikas Patra Rules, 1986 prohibits replacement of lost certificates. The Court held that since IVPs are akin to currency notes and purchased anonymously, the Post Office cannot be compelled to pay maturity value merely upon an indemnity bond. The refusal to pay is lawful application of Rules, not a service deficiency. The appeals were allowed and the original complaints dismissed.
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