https://www.taxtmi.com/caselaws?id=188756 The Supreme Court set aside directions for payment of maturity value for lost Indira Vikas Patras (IVPs) in two appeals. It emphasized that IVPs, like currency notes, cannot be replaced per Rule 7(2) of the Indira Vikas Patra Rules, 1986. Referring to legal principles and precedents, the Court concluded that any direction for replacement was contrary to law. It clarified that no refund was required for one respondent already paid, and appellants were not liable for payment in the other case. The judgment aimed to prevent unsustainable directions conflicting with established legal rules on lost certificate replacements. en-us Wed, 05 Apr 2006 00:00:00 +0530 Thu, 15 Dec 2016 12:46:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188756 The Supreme Court set aside directions for payment of maturity value for lost Indira Vikas Patras (IVPs) in two appeals. It emphasized that IVPs, like currency notes, cannot be replaced per Rule 7(2) of the Indira Vikas Patra Rules, 1986. Referring to legal principles and precedents, the Court concluded that any direction for replacement was contrary to law. It clarified that no refund was required for one respondent already paid, and appellants were not liable for payment in the other case. The judgment aimed to prevent unsustainable directions conflicting with established legal rules on lost certificate replacements. Case-Laws Indian Laws Wed, 05 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188756