Section 77 in The Orissa State Financial Corporation General Regulations, 2003
77. Issue of Bonds and Debentures.
- (i) The bonds or debentures of the Corporation shall be issued under the signature of the Chairman or Managing Director and such signature may be printed, engraved or lithographed or impressed by such other mechanical process as the Board may direct.(ii)A signature of so printed, engraved, lithographed or otherwise impressed shall be as valid as a signature in the proper handwriting of the signatory himself.(iii)Depending upon the conditions prevalent in the money market and instructions and guidelines the Board may decide from time to time the manner and terms of issue and repayment of Bonds and Debentures by the Corporation, with or without the guarantee of the State Government.(iv)In the event of the State Government guaranteeing the repayment of such Bond and Debentures and payment of interest thereon, such Bonds and Debentures shall be deemed to be included among the securities enumerated in Section 20 of the Indian Trusts Act, 1882 and also to be approved securities for the purpose of the Insurance Act, 1938 and the Banking Regulations Act, 1949.
