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
1[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 tha t person a title to the security subject only
to a personal liability to the rightful owner of the security for money had and received on his
account.
1. Subs. by s. 6, ibid., for "the Central Government" (w.e.f. 1-4-1949)