Sunil
(Trader)
(2611 Points)
Replied 04 November 2009
As usual they can arrange a Bank to repay the principal same way as they have been paying the interest on a non cumulative basis. The Bankers charge the fee and normally the registrar of debentures send pre printed cheques on behalf of the NBFC with the authorised signatory signatures pre printed on it. Usually the name of the debenture holder is printed along with Bank name and account number as per demat ac if held in demat form or as per information furnished by debenture holder if in physical form. As per RBI account information of debenture holder is mandatory. The paying banker makes arrangement for payment of instruments at par at the bank location of holder. If they do not have branch, they also arrange through another bank. the NBF has to negotiate the charges with their Bank. Per Section 269T the amount has to reach payee by A/C Payee instrument.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
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