Section 22 in The U.P. State Electricity Board (Issue of Bonds) Rules, 1964
22. Payment of interest.
- Interest on a bond shall be paid by the office of issue of the Bank or in case payment at any other office of the Bank is permitted in the relative Bond, Prospectus by such other office, subject to compliance by the holder with such formalities as the office of issue, may require, on presentation of the bond, by interest warrant in favour of the holder payable at the office of issue or any other office of the Bank, as the case may be.Explanation. - In this rule "Bank" means any banking or other company or corporation appointed by the Board as its bankers for the issue, management and repayment of bonds.
