Section 4(2) in The Jayanti Shipping Company (Acquisition Of Shares) Act, 1971
(2)The amount of compensation payable to a shareholder in accordance with the provisions of sub-section (1) shall be given to him, at his option--(a)in cash (to be paid by cheque drawn on the Reserve Bank of India) in three equal annual instalments, the amount of each instalment carrying interest at the rate of four per cent. per annum from the appointed day, or(b)in saleable or otherwise transferable promissory notes or stock certificates of the Central Government issued and repayable at par, and maturing at the end of--(i)ten years from the appointed day and carrying interest from that day at the rate of four and a half per cent. per annum, or(ii)thirty years from the appointed day and carrying interest from that day at the rate of five and a half per cent. per annum, or(c)partly in cash (to be paid by cheque drawn on the Reserve Bank of India) and partly in such number of securities, specified in sub-clause (i) or sub-clause (ii), or both, of clause (b), as may be required by the shareholder, or(d)partly in such number of securities specified in sub-clause (i) of clause (b) and partly in such number of securities specified in sub-clause (ii) of that clause, as may be required by the shareholder.
