A perusal of Section 375 of the ISA clearly shows that the imposition of a condition of security/surety/indemnity bond is in order to indemnify person(s) or safeguard the interests of such persons who may be entitled to the whole or any part of the debt and security. A condition is imposed where the Court comes to the conclusion that it is necessary for any purpose, including any debt to be satisfied, any other claimants, any dues to statutory authorities etc.
2) There are a stream of cases, where having regard to the fact that the petitioners in testamentary cases where probate/letters of administration were sought in respect of the estate of the deceased, had been exempted from furnishing Surety Bond/Administration Bond on the ground that the will was in favour of the natural heirs and there was no contest to the request for grant of letters of administration/Probate. It was observed that where the petitioners/applicants were natural heirs/sole beneficiary of the deceased, any order directing the said petitioner(s) to stand as an administrator/surety of the estate of the deceased would amount to their/his standing surety for themselves/himself.
3)
In a recent decision in the case of Rajesh Sinha and Ors. vs. State in TEST CAS. 84/2011 decided on 06.04.2015, taking note of the judicial precedents on the above aspect, delhi HC Court had dispensed with the requirement of the petitioner therein furnishing the Administration and Surety Bond by observing as below:-
"9. On a conspectus of the above legal position on the requirement of furnishing a surety and Administration Bond, it may be noted that in a majority of decisions, it has been held that where a sole beneficiary/legatee is involved, the requirement of offering an indemnity bond/surety bond is dispensable for the simple reason that it would be an exercise in futility to call upon a sole beneficiary/legatee under a will that has been duly proved, to furnish an Administration Bond/Surety Bond when the estate of the deceased has been bequeathed in favour of the very same person