Section 18
Legal effect of orders made by Bank.
The Government Securities Act, 2006
About this Act
An Act to consolidate and amend the law relating to Government securities and its management by the Reserve Bank of India and for matters connected therewith or incidental thereto.
No recognition by the Bank of a person as the holder of
a Government security, and no order made by the Bank under this Act shall be called in question by any
Court so far as such recognition or order affects the relations of the Government or the Bank with the
person recognised by the Bank as the holder of a Government security or with any person claiming an
interest in such security; and any such recognition by the Bank of any person or any order by the Bank
vesting a Government security in any person shall operate to confer on that person a title to the security
subject only to his personal liability to the rightful owner of the security for money had and received on
his account.