Section 6 in The U.P. State Electricity Board (Issue of Bonds) Rules, 1964
6. Power to issue and Renew Bonds.
- (i) Subject to the provisions of these rules, the Board may by resolution issue bonds.(ii)The Board may issue such class or classes of bonds as it may determine but each class of bonds shall have a distinct title and shall be issued subject to the conditions that all bonds at any time belonging to that class shall bear one and the same rate of interest, and shall become redeemable at the same time, and shall in all other aspects be of the same character.(iii)All bonds issued by the Board shall be redeemable.(iv)Bonds issued by the Board shall be called the Uttar Pradesh State Electricity Board Bonds.(v)Bonds and applications for bonds shall be for amounts of Rs. 100 or in such multiples of Rs. 100 as may be decided by the Board.
