Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com DELHI STATE ELECTRICITY BOARD RULES, 1955 CONTENTS PART 1 :- Preliminary 1. Short Title 2. Definitions PART 2 :- The Board Terms of Office, Remuneration, Allowances and Conditions of Service of the Chairman and Members of the Board 3. Terms of office and conditions for re-appointment of members of the Board 4. Remuneration 5. Resignation 6. Leave and leave salaries 7. Travelling Allowances 8. Appointment of Government Servants 9. Contributory Provident Fund 10. Appointment of Consulting Engineers 11. Medical facilities PART 3 :- State Electricity Councils And Local Advisory Committee 12. Term of office and conditions for re-appointment of members of the Council and Committees 13. Secretary of the Council 14. Meetings of State Electricity Council 15. Proceedings 16. Quorum 17. Officers not entitled to vote 18. The Chairman of the meeting 19. Place of meeting 20. Fees and Travelling Allowances for Members 21. Secretary of the Committee 22. Meeting of local Advisory Committees 23. Quorum 24. Travelling allowance for Members of Local Advisory Committees 25. Restrktion on matters to be discussed at Meetings PART 4 :- The Finance Of The Board-Borrowing 26. Particulars of borrowing to be furnished to Government 27. Temporary borrowing by the Board 28. Power to re-borrow 29. Application of money borrowed 30. Temporary Investments 31. Issue of stock 32. Redeemability of stock 33. Issue of stock at discount 34. Power to grant mortgages 35. Power to issue and re-new Bonds 36. Security for bods 37. Extinction of securities redeemed or purchased 38. Unclaimed security 39. Appointment of Registrars 40. Registers of securities 41. Certificates of registered stock and bonds secured by trust deed 42. Right to transfer securities 43. Transfer of stock and bonds secured by trust deed 44. Transfer of mortgages and bonds not secured by trust deed 45. Inspection of register of mortgages 46. No notice of trusts 47. Transfer on death 48. Transfer otherwise than by death of holder or transfer in books or by deed 49. Change of Registrar 50. Registrar may take fees, etc 51. Registration fees 52. Registers to be prima facie evidence 53. Defaced or lost certificate 54. Closing of transfer books, etc 55. Arrangements with bankers 56. Protection of lenders and holders of securities 57. Protection of purchaser of land or property 58. Appointment of Receiver 59. Power of Receiver 60. Saving for power of revocation 61. Saving for Government 62. Saving for other obligations PART 5 :- Annual Financial Statement and Other Statements 63. Form of Financial Statement 64. Supplementary Statements 65. Submission of Statement to the State Electricity Council 66. Annual Statement of Accounts 67. Submission of annual report DELHI STATE ELECTRICITY BOARD RULES, 1955 In exercise of the powers conferred by section 78 of the Electricity supply) Act, 1948 (LIV of 1948), the Central Government hereby makes the following rules, the same having been previously published, as re- quired by sub-section (1) of the said section, namely: PART 1 Preliminary 1. Short Title :- These Rules may be called the Delhi State Electricity Board Rules, 1955. 2. Definitions :- In these rules, unless the context otherwise requires (1) "the Act" means the Electricity (Supply) Act, 1948 (LIV of 1948) (2) "Board" means the Delhi State Electricity Board set up under section 5. (3) "bond" includes a mortgage bond and a mortgage debenture executed or issued by the Board under the Act, whether or not the money borrowed is charged on the works and revenues of the Board or on the specific property forming part of the works of the Board. (4) "Chief Commissioner" means the Chief Commissioner of the State of Delhi; (5) "Committee" means a Local Advisory Committee constituted under section 17; (6) "Government servant" means a person in the employment; of the Central or the State Government. (7) "prescribed period" means the period or periods determined by the Chief Com- missioner within which provision is required to be made for the repayment of money borrowed by the Board; (8) "section" means a section of the Act; (9) "security" means any stock or bond issued or any mortgage granted by the Board. PART 2 The Board Terms of Office, Remuneration, Allowances and Conditions of Service of the Chairman and Members of the Board 3. Terms of office and conditions for re-appointment of members of the Board :- The Chairman and other members of the Board shall hold office for such period and shall on the expiration of their term of office, be eligible for re-appointment under such conditions as the Central Government may, from time to time, by order, direct. 4. Remuneration :- The remuneration of the Chairman or other member of the Board shall be such as may be determined in each case by the Central Government. 5. Resignation :- The chairman or any other member of the Board may resign his office by giving six months' notice in writing to the Central Government. The Central Government may, however, waive this condition at their discretion. 6. Leave and leave salaries :- (1) The Chairman or any other member of the Board shall be entitled to leave and leave salary under the model leave terms which may, from time to time, be applicable to Government servants in class I engaged on contract (2) The power to grant leave to the Chairman or any other member of the Board shall vest in the Chief Commissioner. 7. Travelling Allowances :- (1) The Chairman or any other member of the Board shall be entitled to travelling allowances for journeys performed for the purpose of the Board on the scale provided for in the Rules supplementary to the Fundamental Rules applicable to the class of officers to which the Central Government may declare them to correspond in status. (2) No journeys shall be performed by the Chairman or any other member of the Board for the purpose of the Board outside the State of Delhi without the prior approval of the Board. (3) The Chairman shall be the Controlling Officer in respect of his own travelling allowance bills as well as those of any other members of the Board. (4) The Chairman or any other member of the Board shall not be entitled to any travelling allowance for journeys performed on first appointment and on relinquish- ment, unless he is a Government servant and is entitled to such allowance under the Rules supplementary to the Fundamental Rules. 8. Appointment of Government Servants :- Notwithstanding anything contained in Rules 3 to 7 and 11, the allowances and other conditions of service of the Chairman or any other member of the Board, if he is a Government Servant shall be such as may be determined by the Central Government in each case. 9. Contributory Provident Fund :- The Chairman or any other member of the Board if he is not a Government servant, shall be entitled to the benefits of the contributory Provident Fund in accordance with the provisions of the Central Government Contributory Provident Fund Rules. 10. Appointment of Consulting Engineers :- The Board may, with the previous approval of the Central Government and subject to such conditions as that Government may impose, appoint a Consulting Engineer. 11. Medical facilities :- (1) The Chairman or any other member of the Board shall be entitled to such medical facilities as are enjoyed by officers of the Delhi administration of corresponding status. (2) The Chairman shall be the Controlling Officer in respect of his own medical bills as well as those of the other members of the Board. (3) The decision of the Chief Commissioner as to who are officers of corresponding status for the purpose of this rule, shall be final. PART 3 State Electricity Councils And Local Advisory Committee 12. Term of office and conditions for re-appointment of members of the Council and Committees :- The members of the Council and Committees shall hold office for such period and shall, on the expiration of their term of office, be eligible for re-appointment under such conditions as the Chief Commissioner may, from to time, by order, direct 13. Secretary of the Council :- (1) An officer of the Board, not being a member thereof, may be appointed by the Board as ex-officio Secretary to the Council. The officer so appointed shall not be entitled to any extra remuneration on account of such work. (2) It shall be the duty of the Secretary to the Council to call meetings of the Council and to give to the members thereof not less than 14 days notice in writing of the date, time and place of the proposed meeting. 14. Meetings of State Electricity Council :- There shall be an annual meeting of the Council to consider the annual financial statement of the Board. The Council shall also meet when a Supplementary Statement is placed before it. The Council may submit a report to the Chief Commissioner on any financial Statement placed before it by the Board. 15. Proceedings :- The proceedings of every meeting of the Council shall be recorded in a Minutes Book to be kept for the purpose and shall be signed by the Chairman of the meeting at that or at the next succeeding meeting. 16. Quorum :- The quorum for a meeting of the Council shall be five. All questions arising for decision shall be decided by a majority vote and the names of persons voting for and against a motion shall be recorded in a Minutes Book. In the event of an equality of votes the Chairman shall have a casting or second vote. 17. Officers not entitled to vote :- Officers of the Board, not being members thereof, may be invited by the Chairman to attend any meeting of the Council and such officers may take part in the discussion at the meeting but shall not be entitled to vote. 18. The Chairman of the meeting :- The Chairman of the Council shall preside at every meeting of the Council. In his absence a member of the Board shall be deputed by the Board to act as the Chairman. In the event of the absence of both the Chairman and the person deputed by the Board the members present shall elect a Chairman from among themselves. 19. Place of meeting :- All meetings of the Council shall be held at the Head Office of the Board unless the Chief Commissioner otherwise directs. 20. Fees and Travelling Allowances for Members :- (1) A member of the Council shall not be entitled to any remuneration other than that provided in his rule. (2) A member of the Council, other than a Government servant, shall be entitled to receive a sitting fee of Rs. 50 for each day on which a meeting is held and he is present and travelling allowances payable on the scale applicable to a Government servant of Delhi State of the first grade, but shall not be entitled to any daily or halting allowance. Provided that no sitting fee shall be payable to the Chairman or any member or officer of the Board, who is also a member of the Council. (3) A member of the Council who is a Government servant shall be entitled to draw travelling and daily or halting allowances on the scale admissible to him under the Travelling Allowances Rules of the Central Government or the State Government, as the case may be, for the time being applicable to him. 21. Secretary of the Committee :- (1) An officer of the Board may be appointed by the Board to serve as ex-officio Secretary to any or all local Advisory Committees. The officer so appointed shall not be entitled to any extra remuneration on account of such work. (2) It shall be the duty of the Secretary of the Committee to call Committee meetings in accordance with instructions received from the Chairman of the Board or from the Central Government. 22. Meeting of local Advisory Committees :- The Secretary shall give to every member of the Committee, seven days notice in writing of the date, time and place of the proposed meeting. 23. Quorum :- All questions arising for decision shall be determined by a majority vote and the names of persons voting for and against a motion shall be recorded in a minute book. In case of equality of votes, the Chairman shall have a casting or second vote. 24. Travelling allowance for Members of Local Advisory Committees :- (1) A member of a Committee shall not be entitled to any remuneration except the travelling allowances provided in sub-rule (2). (2) Travelling allowances on such scale as may be determined by the Chief Commissioner shall be payable to all non-Government servant Members of the Committee for attendance at meetings. (3) A member of the Committee who is a Government servant shall be entitled to draw travelling and daily or halting allowances on the scale admissible to him under the Travelling Allowances Rules of me Central'Government or the State Government, as the case may be, for the time being applicable to Jiim. 25. Restrktion on matters to be discussed at Meetings :- Notwithstanding anything in these Rules, the Board shall not be bound to answer any question at a meeting of the Committee, if, in the opinion of the Chairman, it would be contrary to public interest so to do. PART 4 The Finance Of The Board-Borrowing 26. Particulars of borrowing to be furnished to Government :- (1) Unless other wise expressly provided in these rules, the Board shall not borrow any sum of money except with the previous sanction of the Central Government. (2) While applying for previous sanction of the Central Government, the Board shall furnish such particulars of the amount, purpose, nature and circumstances of the proposed borrowing as the Central Government may require. 27. Temporary borrowing by the Board :- The Board may, for the purpose of meeting any current expenses properly chargeable to revenue or preliminary expenses connected with the raising of money by issue of bonds, stock or otherwise, borrow by way of temporary loan or overdraft from any bank or otherwise, such sums as it may require, on such terms, conditions and security and in such form as be approved by the Central Government. The amount so borrowed, together with the interest thereon, shall be repaid from current revenues within a period of twelve months from the date of the temporary borrowing or such extended period as the Central Government may allow. 28. Power to re-borrow :- (1) The Board shall have power to borrow (a) for the purpose of paying off any money previously borrowed by them which is intended to be forthwith repaid; or (b) in order to replace the money which during the previous twelve months has been temporarily applied from other funds of the Board in repaying money previously borrowed in accordance with these Rules and which at the time of such repayment it was intended to replace by borrowed money; (2) Any money borrowed under this rule shall for the purpose of repayment be deemed to form part of the original loan. 29. Application of money borrowed :- Except with the previous sanction of the Central Government, money raised by the issue of grant of any security shall not be applied to purposes other than those for which the money was raised. 30. Temporary Investments :- The Board may from time to time invest temporarily in such securities as the Central Government may by general or special order approve any sum raised by the issue or grant of any security and not or the time being required for the purpose for which it was raised. 31. Issue of stock :- (1) All stock issued by the Board shall be redeemable stock and shall be created by and issued in pursuance of a resolution of the Board. (2) The Board may issue such class or classes of stock as it may determine, but each class of stock shall have a distinctive title and shall be issued subject to the condition that all stock at any time belonging to that class shall bear one and the same rate of interest, shall become redeemable at the same time and shall in all other xespects be of the same character. (3) Subject to the provisions of the Act and these rules, stock may be issued of such amount, at such price and at such rate of interest as the Board may with the previous approval of the Central Government determine. 32. Redeemability of stock :- Stock issued by the Board shall be redeemed on the expiration of such period as the Board may, with the approval of the Central Government by a resolution determine: Provided that it may be redeemed before the expiration of the said period, if the Board, by a subsequent resolution, so determines; Provided further that no stock shall be liable to be redeemed before the expiration of the latest date for repayment mentioned in the original resolution creating the stock unless at least three months' notice of the intention to redeem the same may be given. 33. Issue of stock at discount :- (1) Where stock is issued at a price lower than that at which it is to be redeemed the difference between the price of issue and the price of redemption shall for the purposes of these rules be treated as a loan payable within the period expiring on the earliest date on which the said stock may be redeemed. (2) For the purpose specified in sub-rule (1), the Board shall create a Discount Sinking Fund out of the revenues of the Board, for the period of currency of stock or bond issues. 34. Power to grant mortgages :- (1) The Board may subject to the provisions of the Act and these rules mortgage or charge the works and all the revenues of the Board or any specific property forming part of those works. (2) No mortgage shall be granted by the Board for period of less than ten years and no extension of the term of any mortgage shall be for a period of less than ten years. Provided that the provisions of the sub-rule shall not apply to or in respect of any mortgage charged upon any specific property forming part of the works of the Board. (3) Subject to the provisions of these rules, every mortgage other than a mortgage of any specific property granted by the Board shall be by a deed made in the form specified, or similar to that specified, in appendix B. 35. Power to issue and re-new Bonds :- Subject to the provisions of these rules the Board may issue and renew bonds. 36. Security for bods :- (1) The principal money and interest for which bonds are issued by the Board shall be secured on the covenant of the Board to pay and the principal money and interest secured by any bonds or class of bonds may in addition be charged upon or secured by a trust deed charging the works and all the revenues of the Board or any specific property forming part of those works. (2) Bonds issued by the Board shall be called "Delhi State Electricity Bonds" or "Delhi State Electricity Mortgage Bonds" or "Delhi State Electricity Mortgage Debentures" as the case may require. (3) Bonds and applications for bonds shall be for amounts of one hundred, five hundred or one thousand rupees or multiples of one thousand rupees. (4) The principal money secured by a bond shall be repayable at such date within the prescribed period as may be specified in the bond being not less than five years from the date of the bond. (5) Nothing in this rule shall be construed as prohibiting the Board from redeeming a bond at any time by agreement with the holder of the bond if it thinks fit to do so. 37. Extinction of securities redeemed or purchased :- Any security redeemed or purchased by the Board shall be extinguished. 38. Unclaimed security :- If at the end of a period of twenty years after the date (hereinafter referred to as "the date of redemption") on which any class of security is to be redeemed, the Board, by reason of the holder of any security of that class not forthcoming or by reason of any doubt as to the ownership of any such security, is not able to redeem the security, said security shall thereupon be deemed to have been extinguished and the sum credited to revenue. 39. Appointment of Registrars :- The Board shall before making each issue of stock or bonds and before granting any mortgage appoint and thereafter continue to appoint on such terms and subject to such conditions and instructions not in consistent with these Rules as they think expedient, an officer of the Board or any banking or other company as Registrar of the stock or bonds to be issued or as Registrar of mortgages for all- or any of the purposes of these Rules. The general practice of the Reserve Bank of India shall apply to all securities issued under these rules in respect of which the Reserve Bank is appointed as the Registrar. 40. Registers of securities :- Each Registrar shaii maintain a register relating to each class of security for which he is appointed Registrar (hereinafter referred to as "the register") in which shall be entered: (a)in the case of stock: the name, address and description of each holder from time 1.0 time of bonds of the class to which the register relates and the amount held by him. (b)in the case of mortgages: (i) the names, addresses and descriptions of the parties to each mortgage the number and date thereof, the amount for which the same is granted and particulars of the property mortgaged; and (ii) the date of registration of each mortgage and the date on which the same is paid off; (c) in the case of bonds the name, address and description of each holder from time to time of bonds of the class to which the register relates, a statement of the amount of the bonds held by him, the periods for which they are issued, and, the property (if any) on which they are charged, and, if the bonds are secured by a trust deed, the numbers and dates of the certificates issued to him as hereinafter provided, or if the bonds are not so secured, the number of each bond held by him, and the date of registration of each bond and the date on which the same is paid off. 41. Certificates of registered stock and bonds secured by trust deed :- O n the registration of stock or of bonds secured by a trust deed, the appropriate Registrar shall issue to the holder of the stock or bonds a certificate of the proprietorship of such stock or bonds (as the case may be), and such certificate shall be prima facie evidence of the title of the person named therein. 42. Right to transfer securities :- Subject to these rules and to the terms on which the security is issued the holder of any security may transfer the same in whole or in part, except that no mortgage or bond not secured by a trust deed shall be transferred in part, and no part of a bond secured by a trust deed shall be transferred which is not of an an amount for which a bond may be issued by the Board. 43. Transfer of stock and bonds secured by trust deed :- (1) Stock and bonds secured by a trust deed shall be transferred by an instrument in writing arid shall be executed both by the transferor and the transferee, and duly witnessed and the transfer shall be properly stamped. (2) The instrument of transfer and the certificate to which the same relates shall be deposited with and retained by the appropriate Registrar. Such Registrar shall cause an entry thereof to be made in a book to be called "the register of transfers"; and shall endorse on the deed of transfer a note of that entry, and shall issue a new certificate or certificates to the transferee or the transferor, as the case may require. A separate register of transfers distinguished by a number or otherwise shall be kepi for each class of stock and of bonds secured by a trust deed. (3) Not more than one class of stock or bonds shall be included in any transfer, and the deed shall relate only to the transfer, and shall not contain any recital, power or proviso whatever. (4) The transferor of stock or of bonds secured by a trust deed shall be deemed to remain the holder thereof until the name of the transferee is entered on the register relating thereto. 44. Transfer of mortgages and bonds not secured by trust deed :- (1) Mortgages and bends not secured by a trust deed shall be transferred by an instrument in writing. Each such deed shall be duly stamped and shall state its date and the consideration for the transfer and may be endorsed on the mortgage or bond to which it relates. (2) The appropriate Registrar shall keep a register of transfers of mortgages or of bonds not secured by a trust deed, and as soon as may be after the date of every transfer, the deed of transfer shall be produced to the appropriate Registrar, who shall cause entries to be made in the appropriate register of transfers of the date of such deed, the names, addresses and descriptions of the parties thereto and the number of the mortgage or bond transferred thereby, and until such entries have been made neither the Board nor the Registrar shall be in any manner responsible to the transferee. A separate register of transfers of bonds, distinguished by a number or otherwise, shall be kept for each class of bonds not secured by a trust deed. (3) On the registration of any transfer of a mortgage or of a bond not secured by a trust deed, the transferee, or his executors or administrators, shall be entitled to the full benefit of the original mortgage or bond, and the principal and interest secured thereby. (4) No person, except the last transferee registered as aforesaid, or his executors or administrators, shall be entitled to transfer, release or discharge any such mortgage or bond or any money secured thereby. 45. Inspection of register of mortgages :- The register of mortgages shall be open to inspection at all reasonable times by any mortgagee or other person entitled to a mortgage, free of charge, and by any other person on payment of a fee not exceeding Rs. 5 as the Board may from time to time determine. 46. No notice of trusts :- No notice of any trust, express, implied, or constructive in respect of any security shall be entered in any register, or in any other book kept by the Board or any Registrar, or on any certificate or in any mortgage or in any transfer of any security, or, be receivable by the Board or any Registrar or affect any Registrar or the Board through any register or otherwise, and the receipt of any person in whose name any security stands in the register relating thereto shall be a sufficient discharge to the Board for any money paid in respect of such security. 47. Transfer on death :- (1) The interest of a deceased holder of any security shall be transferable by his executors or administrators. (2) Where two or more persons are registered as holders of any security those persons shall be deemed to be joint holders of such security with right of survivorship between them. (3) The Board or the appropriate Registrar may refuse to allow any executors or administrators to transfer any security until the probate of the will or the letters of administration to the estate of the deceased or a succession certificate under the Indian Succession Act, 1925 (XXXIX of 1925) has or have been left with the Registrar for registration and may require all the executors or the administrators to join in the transfer. 48. Transfer otherwise than by death of holder or transfer in books or by deed :- (1) If the interest in any security has been transferred by any lawful means other than a transfer in books or a deed in accordance with these rules on the death of a holder of the security, satisfactory evidence of the transfer shall be furnished to the appropriate Registrar by an affidavit of one or more competent persons or in such other manner a such Registrar, with the approval of the Board, may require. (2) The name of the person entitled under the transfer shall be entered in the appropriate register. (3) Until evidence has been furnished in accordance with sub-rule (1), the Board or such Registrar shall not recognise the transfer and no person claiming under the transfer shall be entitled to receive any interest on the security. (4) For the purpose of this rule, the expression "transfer" includes any case of apparent transfer in the name of the holder of a security, although the actual ownership of the security may remain unaltered. 49. Change of Registrar :- Subject to the conditions on which any security is issued, the Board may at any time determine the appointment of the Registrar for the time being of that security and appoint another Registrar in his place. 50. Registrar may take fees, etc :- A Registrar may refuse to permit an entry to be made in the stock transfer books kept by him or to register any transfer of a security unless (1) the fee hereinafter mentioned is paid in respect thereof, and the instrument of transfer is accompanied either by the certificate, or the deed creating the mortgage, or (in the case of a bond not secured by a trust deed) the bond to which it relates (as the case may be), and (ii) Such other evidence (if any) as he may reasonably require to show me rights of the transfer or to make the transfer is produced. 51. Registration fees :- (1) Except as otherwise provided by the conditions on which any security is issued theaprecate Registrar shall be entitled to charge a fee not exceeding three rupees as the Board may from time to time prescribe in respect of the registration of each one of the following: (a) any transfer, (b) probate of will or letters of administration, (c) change of name, (d) power of attorney, (e) order of Court, and (f) any other document affecting the registration of a security. (2) if any such registration affects more than one class of security a separate fee may be charged in respect of each class. 52. Registers to be prima facie evidence :- Each Register shall be prima facie evidence of any matter entered therein in accordance with these rules and of the title of any person entered therein as the holder of a security. 53. Defaced or lost certificate :- (1) If any certificate of any security is worn or defaced, the appropriate Registrar shall on surrender of the certificate and payment of a fee of three rupees, issue a new certificate to the person entitled to the surrendered certificate. (2) If it is shown to the satisfaction of the appropriate Registrar that any such certificate has been lost or destroyed he shall, after due notification in the official Gazette and on receiving indemnity to his satisfaction against all claims in respect of the lost or destroyed certificate and on payment of the charges of notification and a fee of Rs. 3, issue a new certificate to the person entitled to the lost or destroyed certificate. (3) A memorandum of the issue of a new certificate shall be made thereon and in the appropriate register. 54. Closing of transfer books, etc :- (1) The appropriate Registrar, with the approval of the Board and after giving due notice by public advertisement, may close the register of transfers of any class of security for a period not exceeding thirty days immediately preceding the date for the payment of interest on the security. (2) The persons who on the day of closing in accordance with sub- rule (1) are registered as holders of any security, shall be entitled to the interest next payable thereon. 55. Arrangements with bankers :- The Board may subject to the provisions of these rules make any arrangement with, and provide for the proper remuneration of, any banking or other company brokers or financial agents with respect to the issue of securities the registration and transfer of securities, the payment of interest on securities, the keeping of books and other matters incidental to the issue, management, redemption and re-payment of securities. 56. Protection of lenders and holders of securities :- A person lending money to the Board or holding any security shall not be under any obligation to inquire into or to take notice of, whether the borrowing or the creation or issue or grant of such security was or was not within the competence of the Board under the Act or these rules or whether or not the Board or any meeting thereof was properly constituted or convened, or whether or not the proceeding at any meeting of the Board were legal or regular, or to see to the application of any money borrowed or raised by any security or be answerable for any loss or mis-application thereof. 57. Protection of purchaser of land or property :- Where the Board sell, lease or otherwise dispose of any land or property charged as security for any mortgage or bond (other than land or property specifically mortgaged or charged), the land of property shall, in the hands of the transferee or lessee, be absolutely free from any charge for that purpose, and no transferee or lessee shall be found to acquire into the application of the money arising from such sale, lease or disposal or be in any way responsible for the mis-application or non-application thereof. 58. Appointment of Receiver :- If at the expiration of three months from the time when any principal money or interest has become due on any security and after demand in writing, the same be not paid, the person entitled thereto may without prejudice to any other mode of recovery, apply to the Court for the appointment of a Receiver and the Court may appoint a Receiver on such terms as it thinks fit. 59. Power of Receiver :- Subject to the terms of creation, issue or grant of any security in respect of which the Receiver is appointed, any Receiver appointed in pursuance of these ru'es shall have the like power of collecting, receiving, recovering and applying money as the Board would have had in order to provide the money required for the payment of the principal monsy or interest in arrear and such other powers and duties as the Court thinks fit to grant. 60. Saving for power of revocation :- The Board may, by resolution, revoke at any time, in whole or in part, any resolu- tion for the creation of any security passed by the Board if and so far as the same has not been acted on by the issue or grant of securities thereunder, and shall forthwith give notice of any such revocation to the Central Government. 61. Saving for Government :- No security shall be issued or granted as a security in respect of which the payment of the principal and interest or the principal or interest is guaranteed by the Central Government until the amount, price, rate of interest date and method of issue of such security, the arrangements for the application of the proceeds of the issue and for the repayment of the proceeds have been previously approved by the Central Government and no variation of any such arrangements shall be made without the like approval of Government. 62. Saving for other obligations :- Except as otherwise expressly provided, nothing in the rules shall relieve the Board from any obligation which may be opposed on it in relation to any borrowing power conferred by or under any enactment for the time being in force in the State of Delhi. PART 5 Annual Financial Statement and Other Statements 63. Form of Financial Statement :- The Board shall submit to the Central Government, each year an annual financial statement in the form specified in Appendix 'A* not later than such date in the month of February as the Central Government may specify in this behalf. 64. Supplementary Statements :- A supplementary Statement (if any), shall also be submitted to Government in ;he form specified in Appendix 'A', during the year to which such Supp'ementary Statement pertains. 65. Submission of Statement to the State Electricity Council :- The Board shall submit to the State Electricity Council each year annual financial statement in the form specified in Appendix 'A' not later than the fifteenth day of January each year. A supplementary Statement if any, shall also be submitted to the Council before submission to the Central Government. 66. Annual Statement of Accounts :- (1) The annual Statement of accounts of the Board shall be submitted to Government in the form in Appendix 'C'. (2) The statement of accounts shall be published in the official Gazette and printed copies thereof shall be put on sale at a price to be fixed by the Board not exceeding Rs. 5 per copy. 67. Submission of annual report :- (1) The Board shall, as soon as possible after the 31st day of March, in each year but not later than the 30th September submit to the Central Government an annual report of the Board's operations during the financial year ending on the 31st March. (2) The annual report under sub-rule (1) shall, in addition to matters of general interest, deal with the following matters, namely: (a) the names of members and Chief Officers of the Board, organisation of the various Sections of the Board and a chart showing the organisation; (b) a map showing the jurisdiction of the Board indicating the location of its stations, transmission and distribution systems and major industries operating therein; (c) details of any station or stations which the Board has closed down or over which the Board has assumed control. (d) details of any undertakings, stations or main transmission lines which the Board has acquired under the provisions of Section 23 or Section 37: (e) other activities of the Board such as manufacture of any electricity or other machinery operated by electricity, hire or hire- purchase of appliances, show-room display etc.; (F) the progress made in the planning or construction of any new power sources and any new transmission and distribution system's in urban and rural areas: (g) tariffs (i details of the tariffs of the Board in force during the year; (ii) names of licenses for which rating committees were set up by the Board under section 57, the recommendation made by such rating committees and the orders made thereon by the Central Government; and (iii) details of any directions given to licensees being local authorities in respect of their undertakings under the provisions of section 58. (h) details of the provisions of any inter-State agreement entered into with a contiguous State under the provisions of section 6 (i) mattes referred to the Central Electricity Authority; (j) statistical data in the forms specified in Appendix'D' (k) the annual statement of accounts of the Board as submitted to the Government in the form specified in Appendix 'C' (L) general financial position of the Board indicating the Profit or loss made during the year and the financial prospects for the ensuing year; (m) review of the work of the State Electricity Council and Local Advisory Committee constituted under Sections 16 and 17; and (n) particulars of education, training facilities, welfare schemes for the staff and labour of the Board etc.