Order 27, rule 8 of Civil Procedure Rules : Investment of payment
(1) In place of payment into court as provided by the foregoing rules the defendant may make payment to a bank or a reputable financial institution in the joint names of himself and the plaintiff or in the names of their respective advocates when advocates are acting.
(2) Such payment shall in all respects be as effective as payment into court and the court may make orders for its disposal.
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