Employees' security investment: National Defence Bonds permissible if used only for contractual purposes and liquidity is maintained. Investment of employees' security deposits in National Defence Bonds is acceptable provided the principal and accruals are applied exclusively for the contractual service purposes, with the bonds regarded as comparably safe to a Post Office Savings Bank account; the company must ensure sufficient ready cash to meet legitimate payments and refunds from the security money.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Employees' security investment: National Defence Bonds permissible if used only for contractual purposes and liquidity is maintained.
Investment of employees' security deposits in National Defence Bonds is acceptable provided the principal and accruals are applied exclusively for the contractual service purposes, with the bonds regarded as comparably safe to a Post Office Savings Bank account; the company must ensure sufficient ready cash to meet legitimate payments and refunds from the security money.
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