Answer By law4u team
Bharatiya Nagarik Suraksha Sanhita, 2023 - Section 495: Procedure in case of insolvency or death of surety or when a bond is forfeited
When any surety to a bond under this Sanhita becomes insolvent or dies, or when any bond is forfeited under the provisions of section 493, 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 securities in accordance with the directions of the original order. 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.
Brefe Detail
Section 495 of the Bharatiya Nagarik Suraksha Sanhita, 2023 outlines the procedures to follow when a surety becomes insolvent or dies, or when a bond is forfeited. The court or a first-class magistrate may require the individual to provide fresh securities. If the individual fails to furnish these securities, the court or magistrate may treat this as a default in complying with the original order.
Question & Answers
Q1: What happens if a surety becomes insolvent or dies?
A1: The court or a first-class magistrate may order the person to furnish fresh securities.
Q2: Under which section can a bond be forfeited?
A2: A bond can be forfeited under the provisions of section 493.
Q3: What if the person does not furnish the required fresh securities?
A3: If the security is not furnished, the court or magistrate may proceed as if there had been a default in complying with the original order.
Example
- Scenario 1: A surety for a bail bond becomes insolvent. The court issues an order for the defendant to provide fresh securities. If the defendant fails to do so, the court treats this as a default.
- Scenario 2: A surety dies unexpectedly, and the court requires the individual who requested the bond to secure new sureties. If they do not comply, the court may act on the assumption of a default.
Summary
Section 495 of the Bharatiya Nagarik Suraksha Sanhita, 2023 establishes the procedures for addressing the insolvency or death of a surety and the forfeiture of bonds. It empowers the court or magistrate to demand fresh securities from the party responsible, and non-compliance is treated as a default.
