Section 74: Deed to be executed while taking bail/bond, guarantee or bank guarantee

1) While taking a bail/bond from any person under this Chapter, the court shall cause a deed to be executed by such person in the form referred to in Schedule-29, containing the condition that the amount of bail/bond shall be forfeited if such person fails to appear at the time and place specified by the court.

2) While taking a guarantee or bank guarantee pursuant to this Act, the court shall fix the amount of guarantee and take security of property equal to such amount.

3) If a person required to furnish a guarantee furnishes the security of his or her property, the court shall cause a deed to be executed by such person in the form referred to in Schedule-30 containing the condition that the amount of guarantee shall be recovered from the property so furnished as security or from any other property belonging to him or her if he or she fails to appear at such time and place as specified by the court.

Explanation: For the purposes of this Chapter, the term “guarantee” also includes a bank guarantee.

4) If any other person furnishes his or her property as a guarantee for the person who is required to furnish guarantee pursuant to this Chapter, the court shall cause a separate deed to be executed by that person in the form referred to in Schedule-31 containing the condition that if that person fails to make the accused appear at such place and time as specified by the court, the amount of that guarantee shall be recovered from the property so furnished as guarantee or from any other property belonging to that person.

5) If the value of the property furnished as guarantee pursuant to this Section decreases subsequently for any reason, the person who has furnished such guarantee shall submit a property equal to the decreased value to the court.