Section 116(3) in Arunachal Pradesh Municipal Act, 2007
(3)The purchase by, or the transfer, assignment or endorsement to, the Municipality of any debenture issued by it shall not operate to extinguish or cancel such debenture and every such debenture shall be valid and negotiable in the same manner and to the same extent as if it were held by or transferred, assigned or endorsed to, any other person.
