Section 42 in The Maharashtra Electricity (Supply) Rules, 1963
42. Redeemability of Bonds.
(1)The principal money secured by the bonds shall be repayable on such date, not being earlier-than five years from the date of each issue, as may be determined by the Board, with the previous approval of the Government, and such date shall be specified in the bond.(2)Notwithstanding the currency of the bonds issued by the Board, the Board shall be at liberty to redeem any bonds before the expiration of the said period, if so desired by the Board and the holder thereof shall be bound to accept repayment of the bonds held by him provided the interest is paid or agreed to be paid by the Board upto the date previous to the day of such premature redemption ;Provided that, no bonds shall be redeemed before the expiration of the latest date for repayment mentioned in the bonds unless at least three calendar months' notice of the intention so to redeem them has been given by the Board in at least three daily newspapers having wide circulation throughout India.
