Section 3I in The Hyderabad (Abolition of Cash Grants) Act, 1952
3I. Mode of payment of certain compensation.
(1)The amount of compensation payable under sub-section (1) or clause (b) of subsection (2) of section 3, or under clause (a) of sub-section (1) of section 5-A, shall be paid in cash, or in transferable bonds as provided in sub-section (2), or partly in cash and partly in such transferable bonds as the State Government may determine.(2)Where any amount of compensation is to be paid in transferable bonds, such bonds shall carry interest at the rate of three per cent, per annum from the date of their issue and shall be repayable, during such period not exceeding twelve years from the date of their issue as may be prescribed, by equated annual installments of principal and interest.(3)The bonds shall be of such denominations and shall be in such forms as may be prescribed.
