INDIAN RAILWAY FINANCE CORPORATION LIMITED

other payment centre notified in terms of the Negotiable Instruments Act, 1881, the succeeding BusinessDay will be considered as the effective date. In case the date of payment of interest or principal or any datespecified falls on a holiday, the payment will be made on the next Business Day, without any interest for theperiod overdue.10.4.Whilst our Company will use the electronic mode for making payments, where facilities for electronic modeof payments are not available to the Bondholder or where the information provided by the Applicant isinsufficient or incomplete, our Company proposes to use other modes of payment to make payments to theBondholders, including through the dispatch of cheques through courier, or registered post to the addressprovided by the Bondholder and appearing in the Register of Bondholders maintained by the Depositoriesand/or our Company and/or the Registrar to the Issue, as the case may be as, on the Record Date. In the caseof payment on maturity being made on surrender of the Consolidated Bond Certificate(s) or ` One LakhCertificate(s), our Company will make payments or issue payment instructions to the Bondholders within 30days from the date of receipt of the duly discharged Consolidated Bond Certificate(s) or ` One LakhCertificate(s).Our Company shall pay interest as specified in this Prospectus Tranche-1, over and above thecoupon rate of the relevant Bonds, in the event that such payments are delayed beyond a period of eight daysafter our Company becomes liable to pay such amounts (expect if such delays are on account of delay inpostal channels of the country).10.5 Our Company’s liability to the Bondholders including for payment or otherwise shall stand extinguishedfrom the Maturity Date or on dispatch of the amounts paid by way of principal and/or interest to theBondholders. Further, our Company will not be liable to pay any interest, income or compensation of anykind accruing subsequent to the Maturity Date.11. Manner and Mode of Payment11.1. Manner of Payment:All payments to be made by our Company to the Bondholders shall be made in any of the followingmanners:11.1.1. For Bonds applied or held in electronic form:The bank details will be obtained from the Depositories for payments. Investors who have applied orwho are holding the Bond in electronic form, are advised to immediately update their bank accountdetails as appearing on the records of their Depository Participant. Failure to do so could result in delaysin credit of the payments to investors at their sole risk and neither the Lead Managers nor our Companyshall have any responsibility and undertake any liability for such delays on part of the investors.11.1.2. For Bonds held in physical formThe bank details will be obtained from the application or cheque copy attached by the Registrar to theIssue for effecting payments.In case of Applications other than those made through the ASBA process, the unutilised portion of theApplication Amounts will be refunded to the Applicant within 12 (twelve) Working Days of the IssueClosure Date through any of the following modes:11.2. Modes of Payment(i) Direct Credit – Applicants having bank accounts with the Bankers to the Issue shall be eligible toreceive refunds through direct credit. Charges, if any, levied by the relevant bank(s) for the same wouldbe borne by us.(ii) NECS – Payment of refund would be done through NECS for Applicants having an account at any ofthe 68 centres where such facility has been made available. This mode of payment of refunds would besubject to availability of complete bank account details including the MICR code as available from theDepositories. The payment of refunds through this mode will be done for Applicants having a bankaccount at any centre where NECS facility has been made available (subject to availability of allinformation for crediting the refund through NECS).53