Modes of repayment require account payee cheque or bank draft for bearer bond redemptions, eliminating cash or bearer payment. The provision mandates that the amount payable on redemption of Special Bearer Bonds, 1991, shall be paid only by an account payee cheque or account payee ... Summary
Modes of repayment require account payee cheque or bank draft for bearer bond redemptions, eliminating cash or bearer payment.
The provision mandates that the amount payable on redemption of Special Bearer Bonds, 1991, shall be paid only by an account payee cheque or account payee bank draft drawn in the name of the person to whom such payment is to be made, notwithstanding anything contained in any other law.
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