I don't think the eTV visa has the requirement to produce the certificate. The only caveat is that you need to fly in/out of an airport which issues the visa.
https://indianvisaonline.gov.in/visa/tvoa.html
I thought the surrender certificate was only required for applying for OCI (there is no PIO any more).
I am about to apply for eTV visa for travel and I am yet to surrender my passport, was waiting for my wife to get her passport to do it together, was more lazy than anything else. I also checked the eTV visa requirement, which didn't mention anything about surrendering certificate.
I would NOT travel with the Indian passport, it is illegal and asking for trouble. There is a significant fine if you get caught, not to mention all kinds of trouble that you will get into.