Terms of securities [See Regulation 12]

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....er as follows:- (1) the listed entity either directly ^1[or through the depositories] or through their ^3[Registrar to an Issue and Share Transfer Agent], shall use electronic clearing services (local, regional or national), direct credit, real time gross settlement, national electronic funds transfer etc for making payment of dividend/interest on securities issued/redemption or repayment amoun....

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....cter Recognition, Indian Financial System Code, etc. that are required for making electronic payment are not available or the electronic payment instructions have failed or have been rejected by the bank, listed entity or share transfer agent shall issue 'payable-at-par' warrants/ cheques for making payments: Provided that the listed entity shall mandatorily print the bank account details....