Section 83 in Andhra Pradesh State Financial Corporation General Regulations, 2004
83. 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 so printed, engraved, lithographed or otherwise impressed shall be as valid as a signature in the proper handwriting of the signatory himself.(iii)The Corporation may issue and sell the bonds and debentures on such terms & conditions as may be decided by the Board, for the purpose of increasing its working capital.(iv)Depending upon the conditions prevalent in the money market 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.(v)Such of the bonds and debentures issued by the Financial Corporation as are guaranteed by the State Government as to the repayment of the principal and payment of interest and receipts issued by it for such of deposits as are guaranteed by the State Government as to the repayment of principal and payment of interest shall be deemed to be included among the securities enumerated in section 20 of the Indian Trusts Act, 1882, also to be approved securities for the purpose of the Insurance Act, 1938 and the Banking Regulation Act, 1949.(vi)The form of bonds and debentures:The bonds and debentures shall be in the form of promissory notes provided the debentures may be with or without securities.
