Tax-free bonds specified for North Eastern Electric Power Corporation: interest-bearing seven-year instruments admissible only upon holder registration. Central Government specifies tax-free bonds of North Eastern Electric Power Corporation Limited, 1997-98 (Series IV) as eligible for exemption under the Income-tax Act; the bonds are rupee-denominated instruments issued in 1997-98 bearing interest at 9.25% per annum for a seven-year tenor, issued in a limited amount with distinctive numbers, and the tax-free benefit is admissible only if the holder registers his name and holding with the issuing company.