The Chhatrapati Shivaji Maharaj Vastu Sangrahalaya Act, 1909 and.
Section 15. Power of one or more joint holders to grant receipt.
Notwithstanding anything contained in Section 45 of the Indian Contract Act, 1872 (IX of 1872), where two or more persons are joint holders of any debenture or stock certificate issued under the provisions of this Act, any one of those persons may give an effectual receipt for any interest or dividend payable in respect of such debenture or stock certificate, unless notice to the contrary has been given to the Board by any other of those persons.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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