Section 16 in The U.P. Avas Evam Vikas Parishad (Raising of Loans) Rules 1972
16. Liability in respect of debenture renewed.
(1)Where a renewed debenture has been issued under rule 15 in favour of any person, the debenture so issued shall be deemed to constitute a new contract between the Board and such person and all persons deriving title thereafter through him.(2)No such renewal shall effect the rights as against the Board of any other persons to the debenture so renewed.
