Repayment of Special Bearer Bonds restricted to account payee cheque or bank draft to named payee. Section 269TT mandates that amounts 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, thereby excluding bearer or non account payee modes of payment.
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Repayment of Special Bearer Bonds restricted to account payee cheque or bank draft to named payee.
Section 269TT mandates that amounts 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, thereby excluding bearer or non account payee modes of payment.
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