Section 40 in The Maharashtra Electricity (Supply) Rules, 1963
40. [ Security for bonds. [Substituted by G. N. of 20.9.1967.]
(1)The principal money for which the scrips are issued by the Board and interest thereon shall be secured on the covenant of the Board to pay: and in the case of scrips issued in the form of debenture, it will be secured by creating a charge on the revenues of the Board.](2)The scrip shall be called "The Maharashtra State Electricity Board Debentures" or, as the case may be, "The Maharashtra State Electricity Board Bonds".(3)"The Maharashtra State Electricity Board Debentures" or "The Maharashtra State Electricity Board Bonds" shall be transferable by endorsement and may not be registered.(4)The scrips shall be issued in denominations of rupees one hundred, five hundred or one thousand or multiples thereof, as the case may be.
