Section 17(2) in The U.P. Avas Evam Vikas Parishad (Raising of Loans) Rules 1972
(2)The principal money and interest secured by a debenture shall be paid without regard to any equities between the Board and the original or any intermediate holder, or any set off or cross- claim, and the receipt of the registered holder for such principal money and interest shall be a good discharge to the Board for the same.
