Section 16(14) in The Small Industries Development Bank Of India (General Regulations), 2000*
(14)Payment by the Small Industries Bank to the nominee in accordance with the provisions of these regulations in respect of a security to which the nomination relates shall constitute a full discharge to the Small Industries Bank of its liability.Explanation .-For the purpose of regulations 16 and 17 "security" means-(a)any debenture issued under clause (a) of sub-section (1) of section 15 of the Act;(b)any deposit accepted under clause (d) of sub-section (1) of section 15 of the Act; or(c)any other deposit accepted under a scheme made under any law.
