law: Government Securities Act 2006
  7.
  
  Recognition of title to Government security of deceased sole holder or joint
  
  holders. -
  1.   Subject to the
  
  provisions of sub-sections (2) and (3), if on the death of a sole holder or
  
  death of all the joint holders of a Government security there is no nomination
  
  in force, the executors or administrators of the deceased sole holder or all
  
  the deceased joint holders, as the case may be, or the holder of a succession
  
  certificate issued under Part X of the Indian Succession Act, 1925 shall be the
  
  only person who may be recognised by the Bank as having any title to the
  
  Government security.
  2.   Nothing contained in
  
  this section shall bar the recognition by the Bank of any person as having a
  
  title to a Government security on the basis of a decree, order or direction
  
  passed by a competent court declaring the person as having title to the
  
  Government security or appointing a receiver to take possession of a security
  
  or on the basis of a certificate issued or order passed by any other authority
  
  who might have been empowered under any statute to confer on any such person a
  
  title to the Government security or on the basis of such other documents as may
  
  be prescribed.
  3.   Notwithstanding
  
  anything contained in this section or in any other law for the time being in
  
  force, where the outstanding value of Government security held by a deceased
  
  sole holder or deceased joint holders, as the case may be, does not exceed an
  
  amount of rupees one lakh or such higher amount not exceeding rupees one crore
  
  as may be fixed by the Central Government by notification in the Official
  
  Gazette from time to time, the Bank may recognise a person as having title to
  
  such Government security of the deceased sole holder or deceased joint holders
  
  in such manner and subject to such conditions as may be prescribed.