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REGISTERED No. DL—33001/2002 The Gazette of India

PUBLISHED BY AUTHORITY

No. 12] NEW DELHI, SATURDAY, MARCH 23, 2002 (CHAITRA 2,1924)

(Separate paging is given to this Part in order that it may be filed as a separate compilation)

[PART III—SECTION 4]

[Miscellaneous Notifications including Notifications, Orders, Advertisements and Notices issued by Statutory Bodies!

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DEPARTMENT OF GOVERNMENT AND EjANK ACCOUNTS

C£NIEAL QEgrp>VJSQN

iUMiA!

T H

e inptMSJWce of ftute 18 of the Rule made by the Government of India us ider S e c ta 28 o* the Pubic Debt Act, 1944 and published in the Gazette of 2DTApi IMS (as amended under tie Notification No. F(8)/7G-8/52 da*ed the 29th April, 1954 and the Notification *n extra ordinary Gazette No.67 4sta)d'21lt F^Nuaiy 1990) the foltowag list for the month ended January 2002 is hereby advertised of securities lost sic. in respect of Which prims fade ground aastsfwtwfewg that the securities have tera lost and the claim of applicant is just. All persons other than tf" respective rte'rroiTis named beiow who tawe any dam upon these 'securities should coniroyoicate immediately with Chief General Manager, Reserve Bank of India, Central OfPce . OepaAneiA of Govennrent and {tank Aocounts, Central Det^ Division, Mumbai.

The fct tas feewi diwMad Mo two parts List "A" being securities now advertised forth© fiist time and list *B" the list of securities previously advertised.

G A Z H T T E

J F

Lisl "A *

N D

No. and dale of order issued :

Nb. of Security

in whose name issued

, ¥aiue in Rs. tGrmm.

M A R C H

From what date bearing interest 4

Name(s) of the cf3imant(s) for issue of duplicate and/or payment of discharge value 5

2 3

s J

NIL

2 0 0 2

(

C H A

T R A (A.G. pBJthal^ p. Oikf General 'Marnier

, 21-2.2002

1 9 2 4

)

[

P A R T

I I I

—

S E C

4 P A R T

I I I

—

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S K C

No, and date of order In whose name issued

] Value in Rs. /Grams.

issued No. of Security

Name(s) of the claimant(s) for ffsue of duplicate and/or payment of discharge value

From what date bearing interest

T H E

Ahmedabad Circle

10% Relief Bonds, 1995

I N/S/0337 CO Diary No. 221 dated 30"¹ October 2001

2-7-99 Mrs. Kundanben Narendra Desai

G A Z E T T E AD - 000430 Rs.] ,00,000/- Mr, Narendra Chhotalal Desai (Deceased) & Mrs. Kunrlanben Narendra Desai

O F

•

N D

Chennai Circle

NDGB 19S0 "A" Series

MS-12381 15 gins. Bakkavarmal Bawarlal Not paid Bakkavarma] Bawarlal No. 14 dated 7ll; December

1001

M A R C H

2 ?

New Delhi circle

10% Relief Bonds, ]995

2 0 0 2

f ' Rs. 4.5 lac

• DK-05370/ i GP jNC)

Renu Gupta & Rajesh Kumar

C H A

I Rs. 2.5 lac.

- do - _

Renu Gupta Ss Rajesh Kumar - d o-

PDO/DT/LN-4/2000 dated lO^ November 2001 - d o-

T R A DH-004425/ GP fNC)

1 0 ? 4

;

(A .G. Patiiai^ p. Chief General Manager

a^T-2-2002

3, m THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC, 4

Bank of India

Head Office

Mumbai

Mumbai, dated 22nd February, 2002 No. IL:2001-2002. In exercise of the powers conferred by section 19 read with sub-section (2) of section 12 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), the Board of Directors of Bank of India in consultation with the Reserve Bank of India and with the previous sanction of the Central Government, hereby makes the following Regulations to amend further the Bank of India Officer Employees' (Discipline and Appeal) Regulations, 1976 namely :-- I SHORT TITLE AND COMMENCEMENT

(1) These Regulations may be called Bank of India Officer Employees' (Discipline & Appeal) (Amendment) Regulations, 200].

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Bank of India Officer Employees' (Discipline & Appeal) Regulations, 1976,

(a) for regulation 18, the following regulation shall be substituted, namely :—

" 18 Review:

Notwithstanding anything contained in these regulations, the Reviewing Authority may at any time within six months from the date of the final order, either on his own motion or otherwise review the said order, when any new material or evidence which could not be produced or was not available at the time of passing the order under review and which has the effect of changing the nature of the case, has come or has been brought to his notice and pass such orders thereon as it may deem fit:

Provided that -

(i) if any enhanced penalty, which the Reviewing Authority proposes to impose, is a major penalty specified in clauses (f), (g), (h), (i) or (j) of Regulation 4 and an enquiry as provided under regulation 6 has not already been held in the case, the Reviewing Authority shall direct that such an enquiry be held in accordance with the provisions of regulation 6 and thereafter consider the record of the enquiry and pass such orders as it may deem proper;

(ii) if the Reviewing Authority decides to enhance the punishment but an enquiry has already been held in accordance with the provisions of regulation 6, the Reviewing Authority shall give show cause notice to the officer employee as to why the .enhanced penalty should not be imposed upon him and shall pass an order after taking into account the representation, if any, submitted by the officer employee."

(b) For the existing Schedule, the following Schedule shall be substituted, namely :-

Bank of India Officer Employees* (Discipline & Appeal) Regulations, 1976

S C H E D U LE

Disciplinary Authority

Sr. No.

Appellate Authority

Stale of the Officer

Employee

(i) 1.

Reviewing Authority (v) General Manager i

General Manager (ii) Officers in Scale I & II Officers in Scale Til

(i'i) Chief Manager/ Officer in Scale IV Zonal Manager in Scale V7 Asstt. General Manager

PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1135

Sr. No. (i)	Scale of the Offker Employee (H)	Disciplinary Authority OH)	Appellate Authority (tv)	Reviewing Authority (v)

3.	Officers in Scale TV&V	General Manager	Executive Director or in his absence Chairman & Managing Director	Chairman & Managing Director or in his absence/in case he is functioning as Appellate Authority the Committee of the Board
4.	Officers in Scale VI	Executive Director or in his absence Chairman & Managing Director	Chairman & Managing Director or in his absence/in case he is functioning as Disciplinary Authority. Committee of Board	Board
5.	Officers in Scale VII	Chairman & Managing Director or in his absence Executive Director	Committee of the Board	Board

NOTE FORMING PART OF SCHEDULE

1) Any authority higher th'an the one specified in columns (iii), (iv) and (v) above is empowered to exercise the powers of Disciplinary or Appellate or Reviewing Authority as the case may be.

2) Wherever the Disciplinary or Appellate or Reviewing Authority is appointed / nominated by designation, any person officiating in such designated post shall ipso-facto exercise the authority of Disciplinary or Appellate or Reviewing Authority as the case may be.

3) Wherever there are more than one officer of the same designation who can function as Disciplinary or Appellate or Reviewing Authority or where such authorities are not in a position to function as such or for any reason whatsoever, then :-

i) The Executive Director and in his absence the Chairman & Managing Director by general or special order shall empower:-

a) an officer not below the rank of Zonal Manager in Scale V / Assistant General Manager to nominate which officer of the appropriate scale shall function as Disciplinary Authority- in respect of officers in Scale I and II;

b) an officer not below the rank of Zonal Manager in Scale VI / Deputy General Manager to nominate which officer of the appropriate scale shall function as Appellate Authority in respect of officers in Scale I & II and Disciplinary Authority in respect of Officers in Scale III;

c) the General Manager to nominate which officer of the appropriate scale shall function as Appellate Authority in respect of Officers in Scale III.

ii) the Executive Director and in his absence the Chairman & Managing Director shall decide which General Manager shall function as (a) Disciplinary Authority in respect of officers in Scale IV and V and (b) Reviewing Authority in respect of officers in Scale I, II and III.

4) The Disciplinary or Appellate or Reviewing Authority for officer employees posted in establishments outside India and for those on deputation shall be the same as fot office i employees posted in Head Office.

I 136 THH GAZfcTTH OH INDIA, MARCH 23, 2002 (CHAITRA 2, I'J24) |PARr III—SEC. 4

5) Where disciplinary- action is required to be taken against more than one officer in respect of a common misconduct or a common transaction or series of transactions, then the Disciplinary Authority for the scniormost officer concerned is also empowered to initiate disciplinary proceedings against all such officers. Corresponding!}, Appellate and Reviewing Authorities for all such officers will be same as those for the scniormost officer.

6) Any proceedings which have been initiated but net yet been completed by the appropriate authority on the date of coming into force of this Schedule shall be continued and/or disposed of by the Authorit\ specified in this Schedule.

Deputy diieral Manager

PART III—SEC. A] THE GAZETTE OF INDIA, MARCH 2?, 2002 (CHAITRA 2, 1924) 1137

THE INSTITUTE OF CHARTJJRKD ACCOUNTANTS OF INDIA

27 CUFFK PARADE, COLABA,

MUMBAI400005

CORRIGENDUM NOTIFICATION

4 MAR 2002

3WCA(5)/3/2000-01:- IN NOTIFICATION NO. 3WCA(4)/l/2000-01

DT. 15/01/2001 REMOVING THE NAMES OF FOLLOWING MEMBERS W.E.F 8/12/2000 INCLUDED AT SERIAL NUMBERS MENTIONED

AGAINST EACH MEMBER BE TREATED AS DELETED.

SR.NO.

M.NO.

NAME AND ADDRESS

SR.NO.OFTHE

NOTIFICATION

5742

MR. MODI PRAKASH RAJ

KASTURBACROSS ROAD NO.1,

UPRABHAKUNJ

BORM.I (E)

MUUBAI400068

5862

KW. TARAPORE HOSHANG

DHANBHOORA&CO.

BOrvBAYMirrUALBLDQ,

SIRPMMEKTARD,

FORT

MUMBAI 400001

7613

MR. SHAH KUMUDCHANDRA

10MANQALPARK

NEWVIKASGRUH,

PALDI,

AHMEDABAD 380007

1009ft

MR. VAISHAMPAYAN SHRINIVAS

0 RUTURAfJG APTS,

MADHUSANCHAY SOC

KARVE NAfiAR

PUNE411C52

1138 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHA1TRA 2, 1924) [PART III—SEC. 4 5 103 13053

MR. RAJENDRA KUMAR GARG ASSTT GENERAL MANAGER BANK OF BARDDA P B ND. I f l 4£ BARODA HOUSE 4 £, CAWASJI PATEL ST. MUMBAI 400001

147

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18857 MR. K SURYA PRAKASH ASSTT GEN MANAGER ANDHRA BANK FORT BRANCH, NO. 18 HOMI MODI ST, MUMBAI 40O0£3

135

£ 5 7 39 MR. SATYA DAYANAND MANAGER, OPERATIONS BUHRAINI-SAUDI BANK P 0 BOX 1159, MANAMA BfiHRAIN 0 BAHRAIN

£ 09

£9317 MR. SEKAR B FLAT 35 INDIAN BANK HOUSE, DR. R.P.ROAD MULUND (W) MUMBAI 4 0 0 0 60

£ 66

31793 MR. RAO ADITHAM PRflKASH

B - 40 UJWAL PARK NIEM ROAD PUNE 41104O

£ 93

3 £ 6 78 MR. JOGALEKAR SHREERANG

"PUSHPKARAJ" 9 SRI GOKUL CO.OP SOCIETY, NAVI PETH PUNE 411030

3 31

3453B

MR. MANIAR KIRON BHnNTILAL P DEV1DAS SECURITIES LTD V B GANDHI MARG MUMBAI 400O&3PARi III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1139 13 3 7w MR. MALLYA UMESH UAMAN 35134 14

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F L RT NO. 6, CENTURY A P T S,

PF.STOM SOGOR

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MR. SONI K U N J B I H R RI

5 / S f t B HR SOCIETY MRHRVIRNRGOR HIMRTNRGRR 3 8 3 0 01

MR. GUYAL PRRDEEP RRMJIVAN P R GC1YHL & AGSO

5 £3 ASHIRWRD

6 4 /E RHMEDflBAD

ST CRRNRC BUNDE

MUMflBI 4 0 0 0 09

Ms. PHILIP SHEELR

P.O. BOX 7179

SHRRJAH, UAE 0

U R E

MR. BHRTT PANKflJ HRRI LRL P BHRTT & RSSOCIATES

14 LAXMI NRRRYAN CO.H.S.LTD OPP ELECTRIC, POWER HOUSE M.G.RD., GHWTKOPAR ECRIC,

MUMBRI 4 0 0 0 77

MR. nnNGiirwi J Y O T IN

B-t, r-inNLBII DHHM CG--UF> MBO.'JOC DRDRDHfll CROSS ROAD VILE PARLE (W) MUMBA1 4 0 0 0 561140 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 MR. AHMED RAYEES SAYYED 41174 P 0 BOX 1796 SAUDI ARABIA JEDDAH £ 1 4 ' i l '0 JFDDAH 'c: l 4 4 l'

5 9£

41273 MR. XAVIER M RAJAN £ 0 5, DEWAN SHOPPING CENTRE OPP. UNION BANK, VASAI (W) VASAI 401£0£

£4

6 01

41560 MR. CHAKKUN6AL MOHANKUMAR

10 SHUKLENDU APTS DATAR CLNY DHANDUP (EHGT), MUMDOI 4 0 0 0 78 '•'.-'•

41593

6"i&

MR. TIEREWAL RflJEGH 9 ALAKNANDA OPTS,' MUKUNDNAGAR PUNE 411037 .

6 0S

££

41675 MR. SHARMA BANSILAL 219, ASHOKA CENTRE PUNE SATARA ROAD, PLOT NO PARVATI, PUNE 411009

BRAHMHN ftfiLI, PfiPDI VPIBfll 401207

£7

6 34

4£40S MR. SE7HJIWALA FAKHRUDDIN VELA INTERNATION MARINE- LTD. P 13 BOX £ 6 3 73 DUBAI U.fl.E 0 U.A.E

£8

6 40

4£&£1 MR. NARAYAN ROMALINBAM 5 / 7 /A HARINAM ROAD NO.£ AMAR MAHAL PESTGM BABAR CHEMBUR, MUMBAI 4 0 0 0 89

6 54

43136 MR. SHA3TRI UME8H ROMASWAMY B~7, AMAN APTB, 15£, DAHANUKAR COLONY, KOTHRUD PUNE 4110£9PART III—SKC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1141 30 717 4 4 5 63 7 59

4 5 6 59 31

3£

7 75

45961 33

7 95

4 6 4 5B

8 07

4 6 6 66 35

819

4G923 36

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4 7 0 79 37

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4 7 4 06 38

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7 0 9 92 MR. SANJIVA GIRISH CHAND EPPCO, P D Bnx NO. 5 5 89 DUBAI, U A E 0, U ft E

MR. JOIN RAJESH IS JAYGOPAL CD OP HSG SCTY MAMLADARWAD1 EXTENSION ROD, MALOD (W), MUMBAI 4 0 0 0 64

MR. THAKUR SHRIPAD 16, SHRI GURU MAULI CHAYA OPP, DR RAO I:\LJNI3L0W, NEf^R GANESH COLD DRINKS CHITTARANJAN DOBRD, DOMBIVALI 4 £ i a 0 1.

MR. SURTI EBRAHIM D-1OE, UNITY COMPLEX CO.OP MSB SOC, YARI RD VERSOVA, ANDHERI (W) MUMBAI 400061

MR. BILLIMORIA BURZIN C-14 NESG BAUG NANP CHQWKH MUMBAI 4 0 0 0 07

MR. ANKALKOTI RAJESH 83/SEALORD-B CUFFE PARADE MUMBAI 4 0 0 0 05

MR. KABRfi AMIT OMPRAKASH A - 3 04 SPECTRUM TOWERS OPP POLICE STADIUM SHAHIBAUG AHMEDABAD 3 8 0 0 04

MR. SARESHWALA UMER SIDDIQ AL-JURAID &• COMPANY

. P 0 BOX 16415, JEDDAH £1464 SAUDI ARABIA

MR. KHANNA KOPIL JAIKISHAN D/10, JUHU APARTMENTS, JUHU ROAD, BANTOCRUZ (W) MUMBAI 4 0 0 0 49

MR. DOUGRLL MUKESH U 3 3 / 5, FERGUSON COLLEGE ROOD PUNE 4110161142 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 4tf

Ifci59 7 A314 MR. JAIN DEVENDPA

FLAT NO.9 DENA APARTMENTS Nr.riR nr.ii U.IK NnnnR norTr.TY, OTHWP LINExB, SURRT 3':)'JlZna.-:

77014 Ms. MONICA JHIN

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C/O SH DEEPflK BHANDORI, O-&U GOZDAR APARTMENTS, JUHU TARft ROAD, MUMDAI 4O0049

B7149

4£

1100

MR. DHQLAKIA RAJAESH 3C5&/307, AKABHRATH NEAR RATNAM COMPLEX, C G RD, LAL0ANGLO, AHMEDABAD 3 8 0 0 06 43

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1007G3 MS. DESAI RUMA PRAWIN

C/Q MANGAL ENTERPRISFS 30G SILVER COIN DPP PRAGJI TOWER HALAR ROAD VALSAD 3360IM

MB. HHAH RAJVI L

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£ OSWOL COLONY, SIJMMAIR CLUB ROAD, JAMNAGAR 361005

MR.DHAWAN VARUN SHRIKUMAR

101867

i£04

5 / 1, MITRA KUNJ, 16, PEDDER ROAD MUMBAI 4 0 0 0 26

MR. A PADMANABHAN BALAJI

102469

1£35

9 /7 SHESHASAYEE CO-OP. HSG.SOC.LTD. CJHITNAUIS NAGAR LAYOUT, BYRAMJI TOWN NAGPUR 44^1013

MR. JAKOTIYA NARESHCHRNDRA 47

108588

1833

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104934

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1380

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1401 10767£ MRG. RFVATI SATISH WATVE MflNooir SH;KSHAK NOSRB OPP VANAZ CO, PAUD HO AD KOTHRUD PUNE 4U038

MR. SWPiPNIL PROKPSH SHRHfi C/D P.H. SHPHA & CO. 76B SRDOSHiy PETH, PHftTARE CHUIK P.M.C. SERVfiNTS CO-OP BONK BLDG, PUNE 411030

MR. SHARMR SONJEEW

C/Q M.S. 0ODBOLE &• PBSDCIttTES 2ND FLOOR, & 7 / £, UBEROI HOUSE NRL STOP, PUNE 411004

MR. EHflH PfiROG INDRRVRDfi

£ 0 4, AKIK, OPP. LIONS HOLL, MITHAKHALLI, ELLISBRIDQE AHMEDABOD 38000&

MR. MANISH JAYANTIPRASAD

5, SHREEMANGAL APARVMENTB MAHATMA NfiGOR NHtSHll', ^I;-::,^/I"1?

MR. GIRISH RAMCHANDRA

B&, SNEHVARDHINI COLONY, NR JfiWftHMR NAGAR, POLICE STATION AURANGflBAD 431005

MR. SATWIK ANRLBHRI DURKAL

T / 7, SHANTI NAGAR SOC, OPP. BARVESHWAR TEMPLE OLD WADAJ AHMEDABAD 380013

MS SMITA A DEORAH

B / 4 - G 03 GREEN LAND APTS, J B NAGAR nNOHLRI (CART) MUMBAI 4 0 0 0 591144 HE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 Ms. KHADARIA LOKESH 107&91 1403 9 3 / 9 4, PORRSRAMUPRIM TOUER R.MI.J.1, LOKxHHNDWOLft COMPLEX RNDIIERI (WEriJD MUMBttI 4 0 0 0 53

MR. CHHPOCHHARIR GPUTPIM

188091

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FL.fiT NQ.401, ICICI flPORTMENTS R l / 1 2, FILM CITY ROOD YRSHODHfiM,GaREBfiON (EOST) MUMBRI 400101

£ ,15488

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MR. SUNIL T K RSST. RDMINISTRATIVE OFFICER-FAR, LIFE INSURRNCE CORPORATION OF INDIO DiyiSION OFFICE 6 /7 UNIVERSITY RQRD SHIURJI NRGRR PUNE

4£70iZi

6 4£

MR. CHOUDHflRY BRLVEER SINGH 301 CflMY HOUSE DHUSWRDI CfiWASJI HORMUSJI STREET MRRINE LINES MUMDOI 4 0 0 0 0£

1053

MR. RPVI SHRWKER 47, I II GROGS ANflNDHA RRNGR PILLRI NRGRR PDNDIUHERY B0000B

Ms RUOPA N BUNYAN

1506

£08195

MANAGEMENT TRAINEE BINANI INDUSTRIES LTD. VILLAGE COLRRLE, BARDEX TRLUK BARDEZ GOA 403513

B h 645

109,":

MR RGARWRL SANDLEP £ 34 (GF) SECTOR £8 VASHI, NRVI MUMBRI 400001 63

4 £ 43

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MR POYCE BOMY JRMSHED CUSI'DW BAUG BLOCK S-31 FLOOR, COLABA CAUSEWAY MUMBAI 400001. MR. JOGLEKAR RAMCHANDRA 4aE0, BRAHMANPURI NEAR HARBR TALJM SONAR GALLI MIRAJ 41G410

(DR. ASHOK HALDIR)

SEC .RETARYPART III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1145 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA INDRAPRASTHA MARG

NEW DELH1110 002

NEW DELHI: DATED : 03.03.2002

(Chartered Accountants)

No.1-CA(7)/60/2002 : In exercise of the powers conferred by clause (ii) of Part il of the Second Schedule to the Chartered Accountants Act, 1 !M9, the Council of the Institute of Chartered Accountants of India hereby specifies that a member of the Institute In practice shall be deemed to be guilty of professional misconduct, if he accepts the appointment as statutory auditor of Public Sector Undertaking(s)/ Government Company(ies)/Listed Company(ies) £>nd other Public Company(les) having turnover of Rs. 50 crores or more in a year and accepts any other work(s) or assignments) or service(s) in regard to the same Undertaking(s)/Company(ies) on a remuneration which in total exceeds the fee payable for carrying out the statutory audit of the same Undertaking/company.

Provided that in case appointing authorrty(ies)/regulatory body(ies) specify(ies) more stringent condition(s)/restriction(s), the same shall apply instead of the conditions/restrictions specified in this Notification.

Explanation:

1. The above restrictions shall apply in respcict of fees for other work(s) or service(s) or assignment(s) payable to the statutory auditors and their associate concern(s) put together;

2. For the above purpose,1146 THE GAZETTE OP INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 0) the term "other work^s)" or "service(s)" or "assignment(s)" shall include Management Consultancy and all other professional services permitted by the Council pursuant to Section 2(2)(iv) of the Chartered Accountants Act, 1949 but shall not include: -

(i) audit under any other statute;

(II) certification work required to be done by the statutory auditors; and

(iii) any representation before an authority;

(II) the term "associate concern" means any corporate body or partnership

firm which renders the Management Consultancy and all other professional services permitted by the Council wherein the proprietor and/or partners) of the statutory auditor firm and/or their Mrelatlve(s)" is/are Director/s or partner/s and/or jointly or severally hold "substantial interest" in the said corporate body or partnership,

(ill) the terms "relative" and "substantial interest" shall have the same meaning as are assigned under Appendix (10) to the Chartered Accountants Regulations, 1988.

3. In regard to taking up other work(s) or service(s) or assignments) of the undertaking/company referred to above, it shall be open to such associate concern or corporate body to render such work(s) or service(s) or assignments) so long as aggregate remuneration for such other work(s) or service(s) or assignment(s) payable to the statutory auditor/s together with fees payable to Its associate concern(s) or corporate body(ies) do/does not exceed the aggregate of fee payable for carrying out the statutory audit.

4. This notification shall apply for any appointment(s) on or after 1* April, 2002.

DR.ASHOKHALDIA

SECRETARY

PART III—SEC. 4J THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1147

THE INSTITUTE OF COST & WORKS ACCOUNTANTS OF INDIA

12. SUDDER STREET, CALCUTTA -700 016

Calcutta, the 31st March, 1999 Hr, ll-CWR(189-191)/99 : In pursuance of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that the Certificates of Practice granted to (1) Shri O.P. Agrawal, BCOM,MA(ECO),AICWA, A-75, Chandra Nagar, Ghaziabad- 201 Oil (Membership No. 2115) is cancelled from 25th November, 1998 to 30th June, 1999 at his own request, (2) Shri Kunjumon Mathai, MCOM.AICWA, Thaipana Kizhakekara Puthen Veedu, E.T.C. (P.O.), Ampalapuram, Kortarakara, Kollam - 691 531 (Membership No. 19255) is cancelled from 10th January, 1999 to 30* June, 1999 at his own request and (3) Shri Santi Ranjan Bal, BSC,BCOM,FCA,F[CWA, 'Nabakailash', Flat 5F, 55/4, Ballygunge Circular Road, Calcutta- 700 019 (Membership No. 671) is cancelled from 24th March, 1999 to 30th June, 1999 at his own request.

Calcutta, the 20th April, 1999

h" ll-CWR(192-194)/99 : hi pursuance of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that the Certificates of Practice granted to (1) Shri Alok Saxena, BCOM.AICWA, 1/161, Viram Khand, Gpmti Nagar, Lucknow- 226 010 (Membership No. 16231) is cancelled from ,3rd February, 1999 to 30th June, 1999 at his own request, (2) Shri S. Subrahmanyam, BCOM,MA,AICWA, "Sree Nilayamu", 1328, Geeta Road Extn., P.O. Robertsonpet, Kolar Gold Fields - 563 122 (Membership No. 817) is cancelled from 10* March, 1999 to 30th June, 1999 at his own request and (3) Shri P.A. Menon, AICWA, GHB Flat 294, Swatantra Senani Nagar, Near Samta, Vadodara- 390 021 (Membership No. 1067) is cancelled from 1" April, 1999 to 30th June, 1999 at his own request.

(D. JupMllftthui)

SECRETARY

43—509 GI/2001I 148 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 Calcutta, the 25th May, 1999 ^ll-CWR(?95-l"38)/99 : In pursuance of sub-Regulation (3) of Regulation 11 of the Cost a nd Works Accountants Regulations, 1959, it is hereby notified that the Certificates of Practice granted to (1) Shri V. H a n u m a n t ha Rao, BSC,BCOM,AICWA, 13B, Block - B', Kakatiya Nagar, Habsiguda, Hyderabad - 500 007 (Membership No. 5422) is cancelled from I"¹ April, 1999 to 30Ul J u n e, 1999 at his own request, (2) Shri T. Selvaganesan, MCOM.AICWA, No. 2, Nadabai Garden, Thiruvottiyur, Chennai - 600 019 (Membership No. 14570) is cancelled from 2nd April, 1999 to 30th J u n e, 1999 at his own request, (3) Shri Yogesh Chandra Singh, MCOM,AICWA, C/o. Dr. A.K. Sharma, MM-226, Sector - D, Aliganj Scheme. L u c k n o w- 226 020 (Membership No. 15888) is cancelled from 10th April, 1999 to 30l'< J u n e, 1999 at his own request and (4) Shri Siba Prasad Chaudhuri, BSC,-\iCWA, 128, Avenue South, Santoshpur, C a l c u t t a- 700 075 (Membership No. 8814) is cancelled from 18th May, 1999 to 30th J u n e, 1999 at his own request.

Calcutta, the 18th August, 1999 +• ll-CWR(199-200)/99 : In pursuance of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that the Certificates of Practice granted to :

(1) Shri Debajyoti Roy, BA(HONS),AICWA, C/o. D.J. Roy & Associates, 6 4/ i / D, Biren Roy Road (East), Behala, C a l c u t t a- 700 008 (Membership No. 8437) is cancelled from 16th May, 1999 to 30th J u n e, 1999 at his own request, and

(2) Shri R. Nanabhoy, FCMA.FICWA, C/o. R. Nanabhoy & Co., J er Mansion, 70, August Kranti Marg, Mumbai - 400 036 (Membership No. 8) is cancelled from 5* August, 1999 to 30th J u n e, 2000 on account of death.

(Udayan Ray)

Secretary/

PART III—SEC. 4} THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1149

Calcutta, the 28th December, 1999 ti> ll-CWR(201-205)/99 : In pursuance of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that the Certificate of Practice granted to :

(1) Shri Rajesh Talwar. BCOM,AICWA, Talwar 8s Associates, Plot No. 4. Indraprasth Enclave, Sec* 1-Ext., Trikuta Nagar, J a m mu - 180 012 (Membership No. 18072) is cancelled from 15"' October, 1999 to 30th June, 2000 at his own request,

(2) Shri Vijay Prakash, MA.FICWA, 352, Fourth Street, Nishat Ganj, P.O. New Hyderabad, Lucknow - 226 007 (Membership No. 1876) is cancelled from 14th August, 1999 to 30th June, 2000 at his own request,

(3) Shri Ashok Kumar Mittal, D- 44/196A, Ramapura, Opp. Saraswati Cinema, Varanasi- 221 010, (Membership No. 16441) is cancelled from 27th August, 1999 to 30th June, 2000 at his own request,

(4) Shri Girish Ramchandra Kulkarni, BCOM.AICWA, Girish R. Kulkarni & Co., 86,Snehvardhini H.S., Jawahar Colony, Aurangabad - 431 005, (Membership No. 19263) is cancelled from 4th September, 1999 to 30lh June, 2000 at his own request,

(5) Shri S. Santhoshkumar, BSC.AICWA, 4/2Q,KKG Complex, MTP Road, Kavundampalayam, Coimbatore - 641 030, (Membership No. 14458) is cancelled from 20th September, 1999 to 30th June, 2000 at his own request.

-flMayan Ray)~

Calcutta, the 9th February, 2000 H- ll-CWR(206-209)/2000 : In pursuance of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that the Certificate of Practice granted to :

(1) Shri Adinath Banerjee, BSC,FCS,AICWA, P-130, Lake Terrace, Calcutta - 700 029 (Membership No. 4265) is cancelled from 13'h January 2000 to 30th June, 2000 at his own request,

(2) Shri K. Yogish Acharya, BCOM,LLB,AICWA, 13, "Sudhama", 4th Cross, Muneshwara Nagar, Subramanyapura Post, Bangalore - 560 061 (Membership No, 16372) is cancelled from 16th January, 2000 to 30th June, 2000 at his own request,

(3) Shri Sunil J. Shah, BCOM,LLB,ACA,AICWA, S- 6, Eureka Centre, Koppikar Road, Hubli - 580 020 (Membership No. 14291) is cancelled from 16th December, 1999 to 30'h June, 2000 at his own request, and

(4) Shri Ghanshyam Meghraj Bohra, BSC(HONS),AICWA, 18/159, Housing Board, Chopasani Scheme, Jodhpur - 342 008 (Membership No. 4375) is cancelled from 3"' December, 1999 to 30th June, 2000 on account of death.

(Udnyan Ray)

Secretary

I 150 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

Calcutta, the 27lh March. 2000 ll~CWR(210-215)/2000 : In p u r s u a n ce of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations. 1959, it is hereby notified that the Certificate of Practice granted to :

1. Shri Puran Lai Chopra, BCOM(HONS),MA(ECON],FICWA, E-29. Mansarover Garden, New Delhi - 110 015 (Membership No. 2641) is cancelled from 8th February, 2000 to 30"' J u n e, 2000 at his own request,

2. Shri S.K. Banerjee, BCOM(HONS) ,AICWA. 9 2 2 3. DDA LIG Flats, Masoodpur, Vasant Kunj, New Delhi - 110 030 (Membership No. 4064) is cancelled from 16lh August, 1999 to 30th J u n e, 2000 at h is own request,

3. Shri P.N. Gujral, BA,LLB,FICWA, IV/87-A, Mayur Vihar-I, Delhi - 110 091 (Membership No. 38) is cancelled from 28l>' February 2000, to 30ltl J u n e, 2000 at h is own request,

4. Shri S. Ganesan, BSC.FICWA, No. 16, School View Road, R.K. Nagar, Chennai - 600 028 (Membership No. 1374) is cancelled from 18th February, 2000 to 30th J u n e, 2000 at his own request,

5. Shri Sandip Rampal Agarwal, BCOM.AICWA, 4 / 6 6, ONGC Flats, Near Irla Masjid, JVPD, J u h u, Mumbai - 400 049 (Membership No. 17623) is cancelled from 1"' March, 2000 to 30¹¹¹ J u n e, 2000 at h is own request, a nd

6. Shri Abhijit Ghosh, BCOM(HONS),AICWA, 28, J.K. Paul Road, P.O. Sahapur, Calcutta - 700 038 (Membership No. 18377) is cancelled from 22"d December, 1999 to 30lh J u n e, 2000 at his own request.

(Udayan Ray)

Secretary

PAKT III—Sbf. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1151

Calcutta, the 10th January, 2001 M.ll-CWR(216-233)/2001 : In pursuance of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that the Certificates of Practice granted to :

1. Shri Rajat Kumar Basu, BCOM(HONS/(.AICWA, Jagacha Barwaritala, P.O. G.I.P. Colony, Howrah - 711 321 (Memty-rahip No. 16612) is cancelled from 15* December, 1999 to 3 0* J u n e, 2000 at his own request,

2. Shri Raja Mukhopadhyay, MCOM,AICWA, 101/A/8, Brindabon Mullick Lane, Kadamtala, Howrah - 711 101 (Membership No. 17785) is cancelled from 1* April, 2000 to 30th June, 2000 at bis own request,

3. Shri Dharam Nath Thakur, BCOM,AICWA, 3/54, R.C. Bhawan, 34A, Ratu Sarkar Lane, Calcutta - 700 073 (Membership No. 19712) is cancelled from 21Bt April 2000, to 30th June, 2000 at his own request,

4. Shri Pankaj Jain, MCOM.AICWA, 107, Luxmi Chambers, C-159, Naraina, Phase- I, New Delhi - 110 028 (Membership No. 15932) is cancelled from 7th April, 2000 to 30th June, 2000 at his own mquest,

5. Shri Kausik Kumar Mandal, MCOM.AICWA, Vill.: Antilapara, P.O. Anantpur, Howrah - 711 301 (Membership. No. 15009) :b cancelled from 2 0* J u n e, 2000 to 30th J u n e, 2000 at his own requ ?st,

6. Shri Gurmit Singh, BCOM(HON.S),AICWA, 15/55, Subhash Nagar, New Delhi - 110 027 (Membership No. 19962) is cancelled from 1" February 2000 to 3 0* J u n e, 2000 at his own request,

7. Shri V. Subramanian, BCOM,ACS,AICWA, 3 2 / 1, Thiruvalluvar Street, Pennadam - 606 105, (Membership No. 4056) is cancelled from 1" J u n e, 2000 to 30* J u n e, 2000 at his own request,

8. Shri Pulak Ganguli, BSC^MCWA, 33, Rani Harshamukhi Road, Paikpara, C a l c u t t a- 700 002, (Membersliip No. 15308) is cancelled from 3 1* July, 2000 to 30th J u n e, 2001 at his own request,

9. Shri B.D. Agarwal, BCOM(HONS),AIC^A, Kasturi Villa, Flat No. AS2, 2 5 4 / 2 B / 1, N.S.C. Bose Road, C a l c u t t a- 700 047, (Membership No. 7051) is cancelled from lBt August, 2000 to 30th June, 2001 at his own request,

10. Ms. Varsha Satish Pendse, BCOMvMCWA, B-39, Sanman Co-op. Housing Society, Kharegaon Pakhadi, Kalwa(W), Thane - 400 605, (Membership No. 14987) is cancelled from 2 5* August, 2000 to 3 0* J u n e, 2001 at her own request,

11. Shri Vinay Tandon, BSC,AICWA, 38, Shib Thakur Lane, P.O. Kalakar Street, C a l c u t t a- 700 007, (Membership No. 1L3103) is cancelled from 1"' July, 2000 to 30* J u n e, 2001, at his own request,

12. Md. Akbar Ali, BCOM.AICWA, C/o. MJ\". Momtaj Begum, E.S.I. Hospital, Qr. No. 6 / 6, Kamarhati, C a l c u t t a- 700 058, (Membership No. 11922) is cancelled from 21st August, 2000 to 3 0* June, 2001, at his own request,

13. Shri J.I. Devadatta, DIP.MA,ACIS,FCS:,FICWA, 12, 4*, 'B¹ Block, Koramangala, Bangalore - 560 034, (Membership No. 873) is cancelled from 9* November 2000, to 3 0* June, 2001, at his own request,152 THE GAZETTli OF IND'A, iWARCH 23, 2002 (CHAITRA 2, 1424) [PART III—SEC. 4 14. Shri B.K. H a r i c h a n d a n, MCOM'.AICWA, 4 4 7, J h a r a p a d a, P.O. B u d h e s w a ri Colony, B h u b a n e s w ar - 7 51 0 0 6, (Membership No. 16759) is cancelled from 3 1Bt J u l y, 2 0 00 to 30th J u n e, 2 0 0 1, at hi,; o wn request,

15. Shri D.N. S a n a, MCOM,AICWA: 2 2 / 3 A / 1 1, Sri N a th Mukherjee Lane, C a l c u t ta - 7 00 0 3 0, (Membership No. 2743) ).s cancelled from 16th August, 2 0 00 to 3 0^ June, 2001, at his own request,

16. Shri S.G. Iyer. BSC.AICWA, 10, Silyamkripa, Devidayal Road, Mulund West, Mumbai - 403 080, (Membership M|.. 5708) is cancelled from 12th September, 2000 to 30'" June, 2001, at his own inquest,

17. Shri R.S. Kulkami, AICWA, Vikasajatnd Hsg. Society, Behind Vitas Ashram, Somalwada, Wardha Road, Nagpu^ A 440 025, (Membership No. 5879) is cancelled from 10th July, 2000 to 30^JuVie, 2001, at his own request, and 18. Shri S. Patljibiraman, BA.AICWA, Flat, No. 12, 'RAMS', 120, Fourth Street, Abhiramapuram, Chennai - 600 018,, (Membership No. 2257) is cancelled from I" July, 2000 to 30th June, 2001 at his own request.

Sd- (S.R. Acharyya) Secretary/AdviserPAKI III—SEC. 41 THE GAZETTE OF INDIA, MARCH ,23, 2002 (CHAITRA I, 1924) 1153 KoJkp.ta, the 6th August, 2001

h 1 l-CWR(234-258)/2001 : In pursuance of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that the Certificates of Practice granted to :

1. Shri Rajiv Agarwal, MCOM,ACS,AICWA, G-62A, Kalk^i, New Delhi - 110 019, (Membership No. 8231) is cancelled from 4"" January, 2001 to 30th June, 2001, at his own request,

2. Shri Ramesh M. Joshi, BSQFICWA, B-l/208i BeYi Jumbo Darshan Socy., Kol Dongari Road 2, Andheri (East), Mumbai - 400 069, (Meiibership No. 7562) is cancelled from 5th January, 2001 to 30th June, 2001, at his owr> request,

3. Shri V. Sivakumar, MCOM,A1CWA, Flat 4, First Floor, 355, Konnur High Road, Ayanavaram, Chennai - 600 023, (Membership 'No. 7248; is cancelled from 5lh March, 2001 to 30th June, 2001, at his ow^i request, i

4. Shri R. Venkatasubramanian, MSC.ACS.AICWA, No. 12, S.A.N. Office ft. Shopping Complex, 28, Main Road, Sirudaiyur. Lalgudi - 65'1 6C1, (Membership No. 6074) is cancelled from 30th January, 2001 to 30th June, 200.1, at his own request,

5. Shri M.K. Bhide, BSC.AICWA, Suresh Gaitonde's Chambers, 23, Ambalal Doshi Marg, Mumbai - 400 023, (Membership No. 4719) is cancelled from 7fh March, 2001 to 30th June, 2001, at his own request, x'

6. Shri V.J. Kashikar, MCOM,LLB,FICWA, Jaidecp, 13, Parsan Society, R.V. Desai Road, Vadodara- 390 001, (Membership No. 3'?68) is cancelled from 8th March, 2001 to 30th June, 2001, at his own request,

7. Shri B. Veeraswamy, BCOM,BA,LLB,FCS,FICWA, 11-25-37, Venkata Satya Sai Complex, Vinnakotavari Chowk, K.T. Roatl, Vijayawada - 5(20 001, (Membership No. 4000) is cancelled from 10th January, 2001 to 30th June, 20C 1, at his own request, 8. Shri Asoke Kumar Nandy, MCOM.FICWA, 34, Hansa-B, Sector 1, Srishti Complex, Mira Road (East) - 401 107, (Membership No. 4198) is car celled from 1"' January, 2001 to 30th June, 2001, at his own request,

9. Shri S. Pattabiraman, BA,AICWA, Flat Wo. 12, 'RAMS', 120, Fourth Street, Abhiramapuram, Chennai - 600 018, (Membership No. 22f57) is cancelled from lot July, 2000 to 30lh June, 2001, at his own request,

10. Shri S. Natarajan, BA(HONS),ACMA,AICWA, •Shobana", 46, Kamdar Nagar, 2"

11. Shri K.V. Badari Narayana, BA,AICWA, 16-47/1, Prasanthi Nagar, Uppal, Hyderabad- 500 039, (Membership No. 1443) is cancelled from 2 7* February, 2001 to 3 0* June, 2001, at his own request,

		checks and controls at various places to minimise any risk involved in the securities lending process.
Constitution The existing information will be replaced by the & M anagement information given under of UTI, item 9 of AnnexureJII. Other Directorsh ips of the Trustees		Refer item 9 of Annexure III
"Acceptance date" with Definitions reference to an application H(a) made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the Trust		"Acceptance date" with reference to an application made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the branch office of the Trust, after being satisfied that such application is complete in all respects, accepts the same. The acceptance date in respect of sale and repurchase applications received at the franchise

	expressions can be read synonymously.
Definitions II (ha)	"Person" shall include an eligible trust as defined above. No provisions exist
Definitions 11 (hb)	No provisions exist "RBI" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934.
Application for Units IV (l)(i)	a resident individual or a NRI either singly or jointly with A resident or non-resident another of up to two other individuals on a joint / anyone or adult individual singly or survivor basis. with another individual on joint / either or survivor basis.
	joint / either or survivor basis.
Application for Units IV(1)	(xi) an Army / Navy / AirForcc / Paramilitary fund, No provisions existed for (xii) a Public Sector Undertaking (PSU). all categories of intended (xiii) Financial Institution investors (xiv) a Foreign Institutional Investor (FII) registered with SEBI
Minimum amount of investment V	Application shall be made for a minimum of Rs.5000/-. There is Application shall be made no maximum limit and units will be allotted up to three decimal for minimum of Rs. 5000 places. For subsequent investment under the some folio the and thereafter in multiple of minimum investment is Rs. 1000/-. In case of investment of Rs. 1000/-. Maximum limit Rs.50,000/- and above, the resident or a NRI investing out of for investment per investor non-resident ordinary account is advised to furnish Income Tax is Rs. 10,000/-. When the P.A.N./G.I.R. number and I.T. Circle address if he/she is havinp units are open for the sale so. after the initial offer period this could be relaxed. Units will be allotted in fractions upto three places after the decimal.
Mode of Payment V i n (1) (1) &(ii)	(1) (i) The payment for the (a) The payment for units by an applicant shall be made by him units applied for by an along with the application in cash, cheque or draft. When applicant shall be made by applications are submitted at branch offices of the Trust, him along with the cheques or drafts should be drawn on branches of banks within application in cash, the city/town where the branch office of the Trust at which the cheque or draft. Where application is tendered is situated. applications are submitted (b) If the payment is made by a cheque/draft, the acceptance of an at the branch offices of the application will be subject to such cheque/draft being realised. Trust, cheques or drafts (c) If, the application amount is less than the minimum should be drawn on investment under the scheme, the entire amount shall be branches of banks within refunded to the applicant at his cost in such manner as the Trust the city where the branch

39. Assncintc New provisions inserted as Transactions per hem 8 of annexure III. Borrowings		Refer fo item 8 o f annexure III.
40. Tux New provisions inserted as per item 11 of annexure 111. Treatment of Investments		Refer to item 11 of annexure III.
-U.Constitiiti nn& l>1iinii{!cntcnt odJTl	Information inserted as per item 12 of annexure 111.	Refer to item 12 of annexure 111.
Custodians & Auditors	Existing provisions updated as per items 14 & 15 of iinncxurc III.	Refer to items 14 & 15 of annexure III.
42. Penalties, pending litigations, mnterinl findings or inspections/ invcstlcntinns	New provisions inserted as per item 17 of annexure 111.	Refer to item 17 of annexure 111.
Condensed Financial Inrormntion	Latest data Inserted.

consent of not less than three fourths of the unit holders is obtained.
Tax laws applicability	The existing provisions will be replaced by the updated provisions given under item 8 of annexure III.	Refer item 8 of annexure 111.

Custodians & Auditors	The existing provisions will be replaced by the updated provisions given under items 11 & 12 of Annexure III.	Refer items 11 & 12 of Annexure 111.
Rights of Investors and services	Rights of unitholdcrs 1. Unitholdcrs under the scheme have a proportionate right in the beneficial ownership of the assets of and to the income declared, if any by the scheme. 2. The unitholders have a right to ask the Trustees about any information which may have an adverse bearing on their investments and the Trustees shall be bound to disclose such information to the unitholders. 3. The unitholders are entitjed to have the income warrants sent to them	Investors Rights & Services 1. Members under the scheme have a proportionate right in the beneficial ownership of the assets of the scheme and to the income declared by the scheme. 2. The members have a right to ask the Trustees about any information which may have an adverse bearing on their investments and the Trustees shall be bound to disclose such information to the member s. 3.The members have the right to have statement of account issued to them not later than 6 weeks from the date of acceptance. 4.The members have the right to have the repurchase proceeds despatched to them within 10 working days (provided the application is in order) from the date of receipt of the application al the office where the repurchase requests are processed. In the case of income distribution the members have the right to have income distribution warrants despatched within 42 days from the date of declaration of the income distribution. 5. An abridged annual report in respect of the UGS 10000

7.		conversion are not specified in respect of the convertible portion, the same is taken at cost. (k) Capital indexed bonds are valued on cost basis. (11 Valuation policies for Monev Market instruments > (i) Money Market instruments and other assets are taken at book value, (ii) The money invested in inter bank call market is taken at cost, (iii) The money invested in discount/interest earning instruments is valued at the yield at which the instrument was last traded. For this purpose the latest available quote within a period of two working days, prior to the valuation date is considered. When there are no quotes available in the last two working days, the instrument is valued al cost plus the difference between the face value and the cost, applied uniformly over the remaining maturity of the instrument, (iv) Other money market instruments, including unquoted debentures are valued at cost plus the difference between the face value and cost, applied uniformly over the remaining maturity of the instrument. However, notwithstanding anything contained in respect of clauses XXI, XXII, & XXV the investment policies, determination of NAV and valuation of assets, fixation of repurchase price and frequency of disclosure of NAV, repurchase price and portfolio would be in accordance with the provisions of SEBI (MF) Regulations/Guidelines/Directives issued by SEBI from time to time.
		Accounting Policies

9.		NRO funds will be subject to treatment indicated urider sections 48 and 112 of the Income Tax Act, 1961. At present the investor is required to pay tax @ 20% on long term capital gains after factoring the benefit of the Cost Inflation Index. However, the capital gains accruing to investments made through NRE accounts are not taxable. iv) Value of investment in units under the scheme is completely exempt Irom Wealth Tax. v) The Gift Tax Act, 1958 has abolished the levy of Gift Tax In respect of units of the scheme are fully exempt from levy of Gift Tax. 2) Eligibility for Capital Gains Tax Exemption under Section 54EA Inviitment of entire or part of net consideration ariiing out of transfer of long term capital assets in DOS 10000 will be eligible for capital gains tax exemption under Section 54EA of the Income Tax Act, 1961 subject to repurchase of units only after three year* from the date of acceptance of the application.-- 3) Eligibility for Capital Gains Tax Exemption under Section 54EB Investment of entire or part of capital gains nrising from transfer of long 'term capital assets in UGS 10000 will be eligible for capital gains tax exemption under section 54 EB of of Income Tax Act, 1961 subject to repurchase of unit* only after seven yean form the date of acceptance of application", 4) For Eligible Trusts Units ore approved securities under section 1 l(2)(b) of the Income Tax Act 1961. Eligible Trusts Investing in units will therefore, qualify for tax exemption in respect of income and corpus under sections 11 and 13 of the Income Tax Act, 1961.
		Constitution A Mana/tmtnt of Unit fruit Of India Constitution of UTI Unit Trust of India was set up u a statutory body under Unit Trust of India Act, 1963, with a view to encouraging saving and

Societies Registration Act. 1860 or established under any. state or central law for the time being in force: this expression shall include banks, financial institutions and companies registered under the Companies Act. 1956.		1860 or any other society established under any State of Central law for the time being in force.
Applicntion for i).Resident Indians being adult Units individuals, either singly or V alongwith another adult individual on joint/either or survivor basis,		i) a resident individual or a NRI either singly or jointly with another or upto two other individuals on joint/anyone or survivor basis.

Regulation*, 19%, us amended till date, and filed with SE.B1, and flu- units offered for puhlic subscription have not been approved or disapproved by the SERI, nor has the SEBI certified on the accuracy or adequacy of the Offer Document.
Due Diligence Certificate : 2. Inserted us per the standard offer document
Contents: 3. Table 'Contents* inserted as per the standard offer document
4. Risk Factors IDA Mutual Funds and securities investments are subject to market risks mid the NAV of the units issued under the scheme may go up-or down depending on the factors and forces affecting the capital markets. Performance of previous schemes/plans is not necessarily an indication of future mulls. There can be no assurance that the objective of the

Existing Provisions Clause No.
Open to resident and non resident Highlights adult individuals / mentally 3rd item handicapped persons/ minors/ HUFs/ Trusts/ Societies/ Regd. Co-operative Societies/ Bodies Corporate including Companies and Banks/ Overseas Corporate Bodies (OCBs)/Army/Navy/Air Force/Paramilitary Funds/PSUs/Financial Institutions /Partnership Firm/FIIs.
No provision exists Highlights 6th Item
' Highlights No provision exists 8th to 11th items

		respect of gifts made on or after 1st October 1998. Thus gifts of units of the scheme are fully exempt from levy of Gift Tax.
Definitions n(d)	(d) "Applicant" means a person who is eligible to participate in the scheme and plan made thereunder who is not a minor and shall include the alternate applicant mentioned in the application form when units are sold for the benefit of a mentally handicapped person and makes an application under Clause IV of the Plan.	"Applicant" means a person who is eligible to participate in the scheme and plan made thereunder and makes an application under clause IV of the scheme and who is not a minor
Definitions n(h)	(h) "Mentally handicapped person" means any individual who suffers from mental disability oi such a nature which prevents him from carrying out normal activities of life.	We may delete the definition from the offer document
Definitions II(ma)	No provision exists	{ma) "RBI" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934.
Risk Factors	No provision exists for Derivatives, Stock Lending & Overseas Investment	Derivatives: Trading in derivative securities like options & futures is a highly specialised activity and entails greater risk than ordinary investment. Even though the scheme intends to use the activity of trading in derivatives only for portfolio hedging purposes, the overall market in these segments could be highly speculative due to the actions of the other participants in this market. The success of trading in derivatives depends upon the ability of the fund manager in predicting the future movement of the market and if the fund manager is incorrect in their prediction the performance of the fund could diminish compared to what it would have been if this

		investment strategy had not been used. Stock Lending: It is one of the means of earning additional income for the scheme with least risk. The risk could be in the form of non- availability of ready stock for sale during the period the stocks remain lent. The scheme would be exposed to risk through the possibility of default by the borrower/intermediary in repaying the securities. However, the risk would be adequately covered by taking in of suitable collateral from the borrower by the intermediary involved in the process. The Trust will have a lien on the collateral. We will also have other suitable checks and controls at various places to minimise any risk involved in the securities lending process.
an individual for the benefit of Units & another individual who is a Offer IV 5(i)(d) ' mentally handicapped person.		We may delete the same from the offer document
No provision existed for this Units & category of intended investors Offer IV 5(i) (n)		New subclause (n) may be inserted as (n) any body established or controlled by or under a State or Central Act
Units & No provisions exists Offer IV(8) fii)(c)		In case of FUs, the statement of account will be sent to their global custodian or at the address furnished in the application. Every member wifl receive an updated statement of account each time any additional purchase or partial repurchase or switchover of units is made
Every member will receive an Units & updated Statement of Account Offer each time any additional purchase or partial repurchase of units is IV(8) (iii) made under a folio

	place where the application is received along with local bank submitted. draft where the Trust has its designated branch office bank draft commission will have to be borne by the investor. 1. Mode of payment for NRI investment with repatriation (ii) If the payment is made by benefits cheque, the acceptance date will, The investments by NRIs/OCBs shall subject to such cheque being realised, be the date on which the carry the right of repatriation of application is received by the capital invested, income earned branch office of the Trust. thereon and capital appreciation so long as the investor continues to be resident outside India. Investment in If payment is made by draft, the acceptance date will, subject to these cases can be made through one such draft being realised, be the of the following modes: date on which the application is received by the branch office of (a) By a draft in rupees issued in the Trust. If the application favour of the Trust by a amount is less than the minimum bank/exchange house .operating investment under the plan, the outside India drawn on their entire amount shall be refunded to Indian correspondent banks, the applicant at his cost in such (b) By a cheque drawn on the manner as the Trust may deem fit. investor's NRE account maintained with a bank in India, (c) By a cheque/draft issued from the iii) Mode of Investment with proceeds of FCNR deposits of the repatriation benefits investor. The investments by NRIs/OCBs shall carry the right of repatriation of capital invested and capital Note: Payment in Nepalese and appreciation earned thereon, as Bhutanese currencies are not long as the investor continues to accepted. be resident outside India. Investment in these cases can be 4) Mode of payment for NRI made through one of the investment without following modes: repatriation benefits Draft in foreign currency a) Where funds held in NRO accounts are utilised for purchase Draft in rupees issued in favour of of units, the funds so invested and UTI by foreign banks/Exchange capital appreciation (if any), will House drawn orr their Indian not qualify for repatriation out of correspondent banks. India. Similarly, investments in units purchased in rupees while the investor was a resident of By cheque drawn on investor's

		NRE account maintained with a Bank in India. By cheque/draft issued from the proceeds of FCNR deposits. Further, payment in Nepalese and Bhutanese currencies are not accepted. Investment in units is made in rupees, all foreign currency drafts are converted into Indian rupees at the rate of ex- change ruling at the time of such conversion. Shortfall, if any, will have to be remitted by NRI investors. In view of the above it is advisable that NRI/OCB investors make payment by instruments mentioned at (b) & (c) above. iv) Mode of investment without repatriation benefits i Where funds held" in NRO accounts are utilised for purchase of units, the funds so invested and capital appreciation earned thereon, will not qualify for repatriation out of India. However as per RBI circular A.D. (MA. Series) No.18 dated August 19, 1994 the entire income earned thereon during the ilnancial year 1996-97 and onwards will qualify for full repatriation.	India and becomes non-resident subsequently will not qualify for repatriation of sale proceeds of units, b) As per RBl circular A.D.(M.A. Series) No. 18 dated August 19, 1994 the entire income earned thereon during the financial year 1996-97 and onwards will qualify for full repatriation. In such cases the Trust will make payment in Rupees for credit to NRO A/C. Investors are advised to contact their banks/tax, consultants if they desire remittance abroad of the income.distribution on units. 5. Investment by FIIs should be through payment by debit to the Special Non resident Rupee Account maintained with a designated bank/authorised dealer, approved by RBI.
Sale of units VI (3) - Correction in heading		Application by and registration of eligible institution, minors, an applicant for the benefit of a mentally handicapped persorj etc.	Application by and registration of eligible institution, minors etc.


Sale of Units VI PXiii)	(in) Where an application is made by an individual for the benefit of another individual who is a mentally handicapped person, the Trust shall act on the statements furnished and in doing so the Trust shall be deemed to be acting in good faith. The Trust shall be entitled to deal only with the applicant and in the event of his death, the alternate applicant for all practical purposes and any payment in respect of the units by the Trust to the said applicant or the alternate applicant shall be a good discharge to the Trust.	May be deleted i
Sale of Units VI (5)	Persons applying for units under the Scheme and the Plan made thereunder on behalf of a minor/mentally handicapped person shall satisfy the Trust about their eligibility to make an application and comply with all requirements of the Trust such as Birth Certificate in case of minor/Oculist or Psychiatrist Certificate in case of Mentally handicapped. Applications for units on behalf of bodies like Partnerships/Co- operative Societies/Bodies Corporate/Companies shall be accompanied by certified copy of Partnership Deed of the Partnership/Trust Deed of the Trust/ Bye-Law of the Society/Statute governing the	a) Persons applying for units under the scheme on behalf of a minor shall satisfy the Trust about their eligibility to make an application and comply with all requirements as laid down by the Trust such as submission of the Birth Certificate in case of minor. b) Applications for units on behalf of bodies like Partnership Firms/Co- operative Societies/Bodies Corporate/Companies shall be accompanied by certified copy of Partnership Deed/Bye-Laws of the Society/Statute governing the Body Corporate/Memorandum and Articles of Association of the Company together with Resolution of the governing Body authorising investment in the scheme. At the time of repurchase of the units, resolution

	Indians can also be nominated. Non-Resident Indians can be nominated as per the guidelines issued by the RBI from time to time. Applicant can change the nomination at any time during the currency of the plan, (ii) Members being either parent or lawful guardian on behalf of a minor and an eligible institution, societies, bodies corporate, HUF, partnership firms and an applicant who has applied for units for the benefit of a mentally handicapped person shall have no right to make any nomination, (iii) Legal validity of Nomination: the facility of. the statutory nomination is available to a member under Section 39 A of the Unit Trust of India Act 1963. Accordingly, where a nomination in respect of any unit has been made in accordance with the UTI General Regulations, 1964, the amount payable to the member in respect of the said unit shall on the death of the member vest in, and be payable to the nominee in any case subject to any right, title; claim or other interest of any other person to or in respect of the said units as provided in such regulations and subject to any charge or encumbrance over the said units. Payment made by the Trust as aforesaid shall be a full discharge to the Trust from all liability in respect of the said units.
Repurchase of units	Repurchase shall be effected on receipt of the repurchase slip duly

		the credit entry with "ECS" in the passbook/ statement of bank account. The applicant is requested to fill up the particulars of name and address of his bank, nature and number of account, 9 digit Bank and branch MICR code no. etc. in the application form. (iv)In case the response to this facility is not sufficient enough or for any other reasons, the Trust may pay the income by issue of income warrants incorporating bank account details instead of paying income through "ECS". v) Income Distribution to NRI/OCBs investors Income distribution to NRI/OCBs investors shall be made as per the Exchange Control Regulations. The present position regarding payment of income is as follows: a) The warrant can be issued in the name of the member and sent-to a relative who is resident in India for crediting the NRE/NRO account of the member, as the case may be. OR b)The warrant can be issued in the name of a relative who is resident in India and sent to him for being credited to his account. vi)ECS facility is also available to NRI investors who have their own bank accounts in Mumbai. For those NRI investors who wish to credit the income distribution to their resident relative's account, ECS facility could be extended to them at places as indicated in sub


Fundamenta 1 Attributes DC (3) last: two paras Investment Objectives, policies & Stock Lending IX(4)	Any change in the attributes of the scheme will be carried out only with the consent of not less than the members. Further in the event of change in the attributes, those who do not give their consent will be allowed redeem their holdings scheme. The Board may time to time add to or otherwise amend this scheme amendrrient/ addition thereof will be notified in the official Gazette, In cose of any amendments prior approval of SEBI obtained. The existing provisions will be replaced by under item 1 of annexure III.

Nav Dcterminati on& Valuation of Assets XII (2)	The existing provisions will be replaced by under item 2 of annexure III
Accounting	The existing provisions will be

	(viii) The services of UTI Securities Exchange Limited (UTI SEL) a stock-broking firm and wholly owned by UTI may be utilised for securities transactions of the scheme as per the policies and subject to the limits laid down by the Board of Trustees of the Trust. UTI SEL was set up in 1994, with registered office at Mumbai. IX (5) Table showing Corporate investment in the Trust's Schemes and the Trust's investments in these companies as per the latest data available
2.	XII (2) - Valuation of assets pertaining to this scheme (a) Quoted investments including those under lock-in period, if any, but except government securities are valued at the closing market rates on the valuation date and in its absence,- at the latest available quote within a period of sixty days prior to the valuation date. If no quotes are available for a period of sixty days prior to the valuation date, the same is treated as unquoted investment. (b) Quoted government securities are valued at closing NSE market rates on the valuation date and in its absence the latest available quote within a period of seven days prior to the valuation date. If no quotes are available for a period of seven days prior to the valuation date the same are treated as unquoted government securities. (c) In case of quoted debentures and bonds, the market rate, being cum- interest, the same is adjusted for the interest element, if any. (d) Right entitlements for shares are valued at market rates, discounted for dividend element, wherever applicable. (e) Unquoted preference shares/cumulative convertible preference shares are taken at cost. (f) Unquoted equity shares are valued on fair valuation basis as determined by the Board of Trustees from time to time. (g) Unquoted debentures bonds and transferable notes are valued at yield to maturity , linked to the yield on GOI Securities (yield curve) along with a mark up approved by the Board of Trustees. (h) Unquoted warrants are valued at the market rate of the underlying equity

	shares discounted for dividend element, if any, and reduced by the exercise price payable. In cases where the exercise price payable is higher than the value so derived, the value of warrants is taken as nil. (i) Unquoted Government securities, if any, are valued at yield to maturity based on the prevailing interest rates. (j) Convertible debentures and bonds where composite market quotations are not available, the convertible portion is valued at the market rate relevant to equity shares, discounted for dividend element, if any. The non-convertible portion if any, of such debentures and bonds.is valued as in (g) above. Where terms of conversion are not specified in respect of the convertible portion, the same is taken at cost. (k) Capital indexed bonds are valued on cost basis. (1) Valuation policies for Money Market instruments :- (i) Money Market instruments and other assets are taken at book value, (ii) The money invested in inter bank call market is taken at cost, (iii) Th" money invested in discount/interest earning instruments is valued at the yield at which the instrument was last traded. For this purpose the latest available qu6te within a period of two working days, prior to the valuation date is congidercd. When there are no quotes available in the last two working days, the instrument is valued at cost plus the difference between the face value and th* cost, applied uniformly over the remaining maturity of the instrument, (iv) Other money market instruments, including unquoted debentures are valued at cost plus the difference between the face value and cost, applied uniformly, over the remaining maturity of the instrument. However, notwithstanding anything contained In respect of clauses IX and XT1, the investment policies, determination of NAV and valuation of assets, fixation of repurchase price and frequency of disclosure of NAV, repurchase price and portfolio would be in accordance with the provisions of SEB1 (MF) Regulations/Guidelines/Directives issued by SEBI from time to time.
3.	XIII. Accounting Policies 1. Income recognition

12. Shri D. Chandra Mouli, MCOM,AICWA, 38-19-10/10A, Jyothinagar, Marripalem, Visakhapatnam - 530 018, (Membership No. 19584) is canculled from 14th December, 2000 to 3O'h June, 2001, at his own request, 1 |

13. Ms. Manidipa Sanyal, BA(HONS),BED,AICWA, P-12, Amrapali Abasan, Garia Station Road, Garia, Kolkata - 700 084, (Membership No. 20486) is cancelled from 31st December, 2000 to 30th June, 2001, at her own request,

14. Shri P.N. Shankar, MCOM.FICWA, 120, V Crosa- St., Senthil Nagar Annexe, Chinna Porur, Chennai - 600 116, (Membership No. 10104) is cancelled from 27th January, 2001 to 30th June, 2001, at his own request,

15. Shri R.S. Shah, BCOM,ACS,FICWA, 12, Devcyng Society, Near Vallabh Wadi, Maninagar, Ahmedabad - 380 008f (Membership Mo. 05) it cancelled from 1" April, 2001 to 30th June, 2001, at his own request,

16. Shri Shashikant Chimanlal Shah, BCOM.LLB.FIC'VA, 8, Sarap, Opp. Navajivan Press, Off, Ashram Road, Ahmedabad - 380 014, (Mc-rnbership No. 2104) is cancelled from lat April. 2001 to 30th June, 2001, at his own request,154 THE GAZETTE'OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) IPART Til—SEC. 4 17. Shri Sudarqhan M. Jain, BSC(ENGQ),MTECH,MBA,LLB(H),ACS,FICWA, 90, Vallabh Nagar, Indore - 452 003, (Membership No. 4998) is cancelled from lBt .April, 2001 to 30th June, 2001, at his own request,

18. Shri Sushil Kumar Jain, MSC,ACS,AICWA, M-19, Sunrise Tower, 579, M.Q. Road, Indore - 452 00,1, (Membership No. 10621) is cancelled from 3 1" March, 2001 to 30lh June, 2001, at his own request,

19. Shri Human Kumar, BSC(HONS),AICWA, R-6, INSILCO Colony, Mohopara, Dt. Raigad, Pin 410 222, (Membership No. 20747) is cancelled from 14th May, 2001 to 30th June, 2001, at his own request,;

20. Shri AjitR. Mehta, BCOM(HONS),MBA,ACS,AICWA, H. No. 301, Amrit Dhara Apts., 15, Sindhi Colony, 1-8-303/48, P.G. Road, Street No, 1, Secunderabad - 500 003, (Membership No. 5606) is cancelled from 15'h March, 2001 to 30th June, 2001, at his own request,

21. Shri P.N. Gopinathan, BCOM.BGL.AICWA, 59, Montieth Road, Aaha Mansion (3"< Floor), Egmore, Chennai - 600 008, (Membership No. 7951) is cancelled from 22nd March, 2001 to 30th June, 2001, at his own request,

22. Shri A.P. Balakumar, BSC,BGL,ACS,FICWA, 16(Old 11), Pilliar Koil Street, Park Town, Chennai - 600 003, (Membership No. 1904) is cancelled from 1" May, 2001 to 30tf" June, 2001, at his own request,

23. Shri G. Nedunchezhian, BSC,BGL,MA,MCOM,MBA,FCS.FICWA, Flat A, Kailash Apts., 45/New No. 98, Sadayappar Street, Saidapet, Chennai - 600 015, (Membership No. 13695) is cancelled from 1"' April, 2001 to 30th June, 2001, at his own request, 24. Shri Dilip Kumar Dutta, BCOM,FCA,A1CWA, 18/33, Dover Lane, Kolkata - 700 029, (Membership No. 3900) is cancelled from 21al April, 2001 to 30th ju ne 2001, at his own request, and

25. Shri Kartik Chandra Goswami, BCOM,LLB,AICWA, 128A, Tarak Pramanik Road, Kolkata - 700 006, (Membership No. 4608) is cancelled from 1" April, 2001 to 30"> June 2001, at his own request

Sd-

(S.R. Acha*yyaf Secrataftj/Adviser

Kolkata, the 19th October, 2001

11-CWR(259-262)/2001 : In pursuance of sub-Regulation (3) of Regulation 11 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that the Certificates of Practice granted to :

1. Shri Rajan C. Nadkatni, MCOM,LLB(G),AICWA, F/2/103, Poonam Kunj, Poonam .Nagar, Off. Mahakali Caves Road, Andheri(E), Mumbai - 400 093, (Membership No. 7106) is cancelled from 13th June, 2001 to 30th June, 2001, at his own request,

2. Shri Hitesh L. Ashar, MCOM,AICWA, 2/32, Juhu Sameep, New D.N. Nagar, Andheri(West), Mumbai - 400 053, (Membership No. 8787) is cancelled from 25* June, 2001 to 30^ June, 2001, at his own request,

3. Shri Dinesh Arora, BCOM(HONS),AICWA, 2435/3, Near Ajit Cinema, Delhi Road, Gurgaon - 122 001, (Membership No. 19748) is cancelled from 7th September, 2001 to 30th June, 2002, at his own request, and

4. Shri Ajay Garg, BCOM.AICWA, 29, Vijay Nagar, Old D.C. Road, Sonepat - 131 001, Haryana, (Membership No. 19942) is cancelled from 17"' September, 2001 to 30^ June, 2002, at his own request.

(S,R. Acharyya) Adviser/ SecretaryPARI HI—SLL. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, J924) I 155 Calcutta, the 3 1" March, 1999

^ 16-CWR(1256)/99 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub- section (1) (a^ of Section 20 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the name of Shri P. Ganguly,. MA,FICWA, 144A, Harish Mukherjee Road, Calcutta- 700 025 (Membership No. 361) with effect from 21⁶t March, 1999, on account of death.

(D. tjngff>j"'t !••"}-

Calcutta, the 20th April, 1999

•<•• 16-CWR(1257)/99 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub- section (1) (b) of Section 20 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the name of Shri P.A. Menon, AICWA, GHB Flat 294? Swatantra Senani Nagar, Near Samta, Vadodara- 390 021 (Membership No. 1067) with effect from lBt April, 1999, at his own request.

(D. JaganHathan)

SECRETARY

Calcutta, the 18th August, 1999 h- 16-CWR(1258-1262)/99 : In pursuance of Regulation 16 of the Cost and Works

Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (a) of Section 20 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the names of :

(1) Shri R. Subramanian, BCOM.AICWA, 16, Mythili, 72, Pestom Sagar, Road No.2, Tilaknagar P.O., Mumbai - 400 089 (Membership No. 1199) with effect from 8lh July, 1998,

(2) Shri Jyoti Prakash Datta, MTECH,ACS,FIE,MIIE,FICWA, 75, Golf Club Road,

Tollygunge, Calcutta- 700 033 (Membership No. 2292) with effect from 2 1" July, 1998,

(3) Shri Basanta Kumar Banerjee, BOM,MA,FICWA, 2, Chowdhury Lane, Calcutta - 700 004, (Membership No. 569) with effect from 19th September, 1998,

(4) Shri Anand Prakash Madan, MCOM.AICWA, B-20, Pocket IV, Mayur Vihar, Phase-I, New Delhi - 110 091 (Membership No. 2087) with effect from 17th May, 1999, and (5) Shri R. Nanabhoy, FCMA.FICWA, Jer Mansion, 70, August Kranti Marg, Mumbai - 400 036 (Membership No. 8) with effect from 5th Auijust, 1999,

on account of death.

44_509 GI/2001

(Udayan Ray)

SECRETARY
1156 THE GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—$ec. 4
Calcutta, the 28th December, 1999 /V 16-CWR(1263-1266)/99 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (a) of Section 20 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India h as removed from the Register of Members, the names of :

(1) Shri Tapan Kumar Ghosh, BCOM,ACA,AICWA, 2L, Alipore Avenue, C a l c u t t a- 700 027 (Membership No. 662) with effect from 4'h February, 1999,

(:•>') Shri Korah John, BA.FICWA, F.104, "Coral Plaza", 15/17, Kemp Road, Frazer Town. Bangalore - 560 005, (Membership No. 3105) with effect from 11th September, 1999.

(3) Shri KS Bhatnagar, MA,BCOM,FICWA, 117/617, Pandu Nagar, Kanpur, &-16-CWR(1 #57-1268)/99 : In pursuance of Regulation 1"T of the Cost and Works Accountants Regulations, 1959, it js hereby notified that in exercise of powers conferred by sub-section (1) (b) of Section 20 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed fhrui the Register of Members, the names of :

(1) Shri Raiaehandra Jagannath Gondhalekar, BA,MCOM,AICWA, 3/29, Chintamani Co-op. Hsg. Soc, Babanrao Kulkami Marg, Mulund (East), Mumbai - 400 081, (Meinbei ship No. 590) with effect from 1* April, 1999, and

(2) Shri tfamaniklal Jayantilal Mehta, BSC.FICWA, 42, Arunodaya Society, A/9, Vandemataram Flats, Alkapuri, Vadodara - 390 007,"fMembership No. 2199) with effect from 6"' July, 1999,

at their own request,

Calcutta, the 9th February, 2000 V: 16-CWR(1269-1270)/2000 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (b) of Section 20 of the Cost and Works. Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the names of :

(1) Shri Amar Chandra Bhattacharjee, MCOM,FICWA, Tulsi-Manjari Apt., Block-B, Flat-12, 293/1, Dum Dum Road, Calcutta- 700 074, (Membership No. 4774) with efifect from 3^ August, 1999, and

(2) Shri D. Vasudevan, MCOM^VICWA, rPlot No. 1024, 6^ Avenue, Anna Nagar West, Chennai - 600 040, (Membership No. 763) with effect from 1" January 2000, at their own request.

(Udayan Ray)

Secretary
I 157 pAKT in—Sic. 41 THE C.AZETTK OF INDIA. MARCH 23. 2002 (CHAITRA 2. 1924)
Calcutta, the 9" February, 2 0 00 ti. 16-CWR( 1 2 7 1 - 1 2 7 4 ) / 2 0 00 : In p u r s u a n ce of Regulation 16 of the Cost a nd Works A c c o u n t a n ts Regulations. 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (a) of Section 20 of t he Cost a nd Works A c c o u n t a n ts Act, 1959, the Council of the Institute of Cost a nd Works A c c o u n t a n ts of India h as removed from the Register of Members, the n a m es of :

(1) Shri S o m n a th G u p t a, BA.FICWA, C-63. Sector 26, Noida - 201 3 01 (Membership No. 1777) with effect from 7"' September, 1999.

(2) Shri MX, Aggarwal, BCOM.FICWA, G-106. Sarita Vihar, New Delhi - 110 0 44 (Membership No. 3002) with effect from 10"' October 1999,

(3) Shri A.R. K r i s h n a m u r t h y, BA(COM),FCS.FICWA. 9 / 3 8 4. V a r t h a n a g a r, P a l l a k k a d- 6 78 0 01 (Membership No. 2055) with effect from 3rl December 1999, a nd

(4) Shri G h a n s h y am Meghraj Bohra, BSC(HONS),AICWA, 1 8 / 1 5 9, Housing Board, C h o p a s a ni Scheme. J o d h p ur - 342 0 08 (Membership No. 4375) with effect from 3lcl December, 1999,

on a c c o u nt of d e a t h.

Calcutta, t he 27"' March. 2 0 00 V. 16-CWR(1275-1278)/2000 : In p u r s u a n ce of Regulation 16 of t he Cost and Works A c c o u n t a n ts Regulations, 1959, it is hereby notified t h at in exercise of powers conferred by sub-section (1) (a) of Section 20 of the Cost a nd W o r ks A c c o u n t a n ts Act. 1959, t he Council of t he Institute of Cost a nd Works A c c o u n t a n ts of India h as removed from the Register of Members, t he n a m es of :

1. Shri V.S. Luthiya, BCOM,LLB,AICWA, Plot No. 54, Mahakali Apt., G a n d hi Nagar, Near S u b h a sh Dairy, M a n p a da Road, Dombivli (East) (Membership No. 16433) with effect from 4th February, 1998.

2. Shri R a d ha R a m an Sen S h a r m a, BCOM,ACS,ACIS(LOND),AICWA. Holding No. 1284, Ferry F an Road, H.B. Town, Sodepur - 7 43 178 (Membership No. 323) with effect from II¹¹' November, 1999,

3. Shri V. Vijayakumaran Nair, BCOM,AICWA, Dy. Financial Controller, The -Travancore Cochin Chemicals Ltd., U d y o g a m a n d al - 6 83 501 (Membership No. 9882) with effect from 30"' December. 1999,

4. Shri Anil Kumar Biswas, MCOM.FICWA, 1 5 / 2D (Old No. 1 5 / 2 ). Raja M a n i n d ra Road, C a l c u t ta - 7 00 0 37 (Membership No. 192) with effect from 14th February. 2 0 0 0,

on a c c o u nt of d e a t h.

(Udayan Ray)

Secretary
I I-SK THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
Calcutta, the 3irl Apn^2n00 16-CWR(1279-1281)/2000 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (b) of Section 20 of the Cost and Works Accountants Act, 1959. the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the names of :

1. Shri K. Srinivas Upadhya, BA.AICWA. 24, Mulund Punam, Behind Municipal Hospital, MulundfW), Mumbai - 400 080, (Membership No. 1704) with effect from 9Ll¹ February, 2000,

2. Shri Tattwes Mozumder, BCOM.ACMA,AICWA, 32, Arabinda Road, Calcutta - 700 5. Shri Vasantlal Ramanlal Mehta, BCOM,LLB,FICWA, 330, Shankar Nagar, New Sama Road, Vadodara- 390 008 (Membership No. 478) with effect from 15th May, 2000,

on account of death.

(Udayan Ray)

Secretary
PARI- III—SEC. 41 THE GAZHTTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1159
Calcutta, the 12th June, 2000 '>'- 16-CWR(1287-1288)/2000 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (b) of Section 20 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the names of :

1) Shri V. Balu, MA(ECON),LLB,,AICWA, AH/96/2, FF, DDA Flats, Safdarjung Enclave, New Delhi - 110 029, (Membership No. 4772) with effect from 7th March 2000, and

2) Shri Nitai Charan Kundu, BCOM.AICWA, P-l/20, C Block, Bangur Avenue, Super Complex Building, Flat No. 2/B, l⁸t Floor, Calcutta- 700 055 (Membership No. 248) with effect from 1" April, 2000,

at their own. request

(Udayan Ray)

Calcutta, the 6th November. 2000 V. 16-CWR(1289-1295)/2000 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (a) of Section 120 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the names of ;

1) Shri Harish V. Shah, BCOM(HONS),FICWA, Plot No. 293, Gunjan Cinema Area, GIDC, Vapi - 396 195, (Membership No. 3980) with effect from 25lj> November 1999,

2) Shri Haro Kumar Dey, MCOM.AICWA, Mahisya Para, Khardaha - 743 155, Dt. 24Pgs.(N), (Membership No. 4911) with effect from 30th January 2000,

3) Shri Coimbatore Chellappa Chamu, BA,AICWA, No, 4, First Cross, Hennur Road (Lingarajapura), Thomas Town, Bangalore - 560 085 (Membership No. 106) with effect from 3'Tl February 2000,

4) Shri Mahesh K. Shah, BCOM.AICWA, B-6/7, Arunodaya, Khira Nagar, S.V. Road, Santacruz(W), Mumbai - 400 054, (Membership No, 5463) with effect from 10"' June 2000,

5) Shri Raj Kumar Jindal, BA,LLB,,AICWA, F-103, Ashish Chambers, Mayur Vihar-I, Delhi - 110 091, (Membership No. 369) with effect from 4'¹' September 2000,

6) Dr. M. Vishnu Murthy, MA,PHD,LLM,FCS,FICWA, H, No, 2 1 /3 RT, Prakasam Nagar, Begumpet Post, Hyderabad - 500 016, (Membership No. 3724) with effect from 16U> September 2000, and

7) Shri Vishwanath Bhagirath Behede, BCOM(HONS),FCA,FICWA, Suyog, 10"' Lane, Prabhat Road, Pune - 411 014, (Membership No. 822) with effect from 29th September 2000

on account of death.

(S.R. Acharyya) _ Secretary/ Adviser1 160 THE CJAZtHTK OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 C a l c u t t a, t he 6"' November. 2 0 00 16-CWK'| 1 2 0 6 - 1 2 9 8 ) / 2 0 00 : [n p u r s u a n ce of Regulation 16 of t he Cost a nd W o r ks Account finis Regulations. 1 9 5 9. it is h e r e by notified t h at in exercise of p o w e rs conferred by s u b - s e c t i on (1) (b) ol Section 20 of t he Cost a nd W o r ks A c c o u n t a n ts Act, 1959, t he Council ol t he Institute of Cost a nd W o r ks A c c o u n t a n ts of India h as removed from t he Register of M e m b e r s, t he n a m es of :

1) S hn Govind Achut G a o n k a r. MCOM.LLB.AICWA. Flat 9. Yogdan Co-op. Hsg. Soc\ Ltd., St. F r a n c is Road. Vile Parlc West. M u m b ai - 4 00 0 56 (Membership No. 1590) with effect from 3 1 -' M a r ch 2 0 00

2) S h ri A.K. Veiikiteswaran, AlCWA. C / o. ITC BPL S h a r e s, Section 5 0, S e b a s t i an Road. S e c u n d e r a b ad - 5 00 0 03 (Membership No. 893) with effect from 29th August 2 0 0 0 , a nd

3) Shri Srichaiid K h u s h a l d as W a d h w a, BA.BCOM.AICWA, 114. C r e s c e n t, Pali Hill Road, Khar. M u m b ai - 4 00 0 5 2, (Membership No. 1035) with effect from 2"d October 2 0 0 0, at tfu-ir oun request.

(isjtf^ScWpysT

n . . _ A. . 1 A 1 •

Calcutta, the 10th January, 200:

16-CWR(1299-1300)/2001 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (a) of Section 20 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the names of ;

1) Shri T.R. Gopalakrishnan, ACMA,FTCWA, No. 8, Plot 116, Deepam, Behind Kannada High School, Wadala, Mumbai - 400 031 (Membership No. 35) with effect from 27th April, 2000, and

2) Shri Amar Kumar Sen, MA,FCMA,FICWA, Flat No. A-l, Aikyanir, 4, Beltala Road, Calcutta- 700 026 (Membership No. 452) with effect from 23rd June, 2000, on account of death.

Sd/~ (S.R. Acharyya) Secretary/AdviserPARI III—Sue. 4] THE GAZETTE OF INDIA. MARCH 21, 2002 (CHAITRA 2, 1¹J24) 1 1M Calcutta, the 10th January, 2001 16-CWR(1301-1304)/2001 : In pursuance of Regulation 16 of the Cost and Works Accountants Regulations, 1959, it is hereby notified that in exercise of powers conferred by sub-section (1) (b) of Section 20 of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost and Works Accountants of India has removed from the Register of Members, the names of :

1) Shri Siba Prasad Chaudhuri, BSC,AICWA, 128, Avenue South, Santoshpur, Calcutta- 700 075 (Membership No. 8814) with effect from 8th August, 2000, 2) Shri B.A. Mantri, BCOM,LLB,AICWA, 52, Mangal Murti Apts., 4th Floor, Zaver Road, Mulund, Mumbai - 400 080 (Membership No, 2248) with effect from 19th September, 2000,

3) Shri A.A. Manyarwala, MCOM,AICWA, C/15, Bage Firdos No. 2, Iff ear Lalbhai's Kuva, Sarkhej Road, Juhapura, Ahmedabad - 380 055 (Membership No. 783) with effect from 3rd October, 2000, and

4) Shri K.A. Achuthan, BCOM.FICWA, Sudharma, Thrikkandiyoor, Tirur - 676 104, (Membership No. 1707) with effect from 30th October, 2000,

at their own request.

Sd/- (S.R. Acharyya) Secretary/Adviser

Calcutta, the 31Hf March, ]999 %- 18-CWR (329)/99 : It is hereby notified in pursuance of Regulation 18 of the Cost and Works Accountants Regulations, 1959, that in exercise of the powers conferred by Regulation 17 of the said Regulations, the Council of the Institute of Cost and Works Accountants of India has restored to the Register of Members, the name of Shri S. Subramanyan, MCOM,AICWA, Neelam Apts., Flat No. 301/302, Shah Bldg., Compound No. 1, Bhagat Lane, Matunga (W), Mumbai - 400 016 (Membership No. 1870) with effect from 10th March, 1999.

(D. Jagannathan)

Secretary
THE OAZETTK OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
Calcutta, the 30th June, 2000

v 18-CWR (330)/2000 : It is hereby notified in pursuance of Regulation 18 of the Cost and Works Accountants Regulations, 1959, that in exercise of the powers conferred by Regulation 17 of the said Regulations, the Council of the Institute of Cost and Works Accountants of India has restored to the Register of Members, the name of Shri C. Eswara Dass, BSC(MATH.),AICWA, Chief Manager (Finance 8s Accounts), O.N.G.C. Ltd., Ankleswar Project, Ankleswar (Membership No. 6610) with effect from 20th June, 2000.

(Udayan Ray)

Secretary

Calcutta, the $*• November. 2000 ft 18-CWR (331)/2000 : It is hereby notified in pursuance of Regulation 18 of the Cost and Works Accountants Regulations, 1959, that in exercise of the powers conferred bv Regulation 17 of the said Regulations, the Council of the Institute of Cost and Works Accountants of India has restored to the Register of Members, the name of Shri Nirmalendu Ghosh, BCOM,AICWA, "Shanti-Niloy", 207, Dharampur Main Road, Chinsurah - 712 101 (Membership No. 3442) with effect from 11* October 2000.

Calcutta, the 5^ October, 2001 A. 18-CWR (332)/2001 : It is hereby notified in pursuance of Regulation 18 of the Cost and Works Accountants Regulations, 1959, that in exercise of the powers conferred by Regulation 17 of the said Regulations, the Council of the Institute of Cost and Works Accountants of India has restored to the Register of Members, the name of Shri Jawahar Lai Kumar, BA,AICWA, 256, Defence Colony, Jalandhar City - 144 001 (Membership No. 5332) with effect from 27th August 2001.

Sd/-

(S.R. Acharyya) Adviser/ SecretaryPARI 111—Si-c. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAJTRA 2, 1924) 1163 Kolkata, the 12* October, 2001

N O T I F I C A T I ON

18-CWR (333)/2001 : It is hereby notified in pursuance of Regulation 18 of the Cost and Works Accountants Regulations, 1959, that in exercise of the powers conferred by Regulation 17 of the said Regulations, the Council of the Institute of Cost and Works Accountants of India has restored to the Register of Members, the name of Shri Ashok Ghosh, BSC.AICWA, 1043/29, Gali No. 10, Krishna Colony, Gurgaon - 122 001, Haryana (Membership No. 4025) with effect from 18lh September 2001.

Sd/-

Kolkata, the l"l November, 2001

N O T I F I C A T I ON

18-CWR (334)/2001 : It is hereby notified in pursuance of Regulation 18 of the Cost and Works Accountants Regulations, 1959, that in exercise of the powers conferred by Regulation 17 of the said Regulations, the Council of the Institute of Cost and Works Accountants of India has restored to the Register of Members, the name of Shri Govindan Aravindan, BCOM.AJCWA, 6/15E, MCR Street, Main Road, Podanur P.O., Coimbatore - 641 023 (Membership No. 5036) with effect from 24th September 2001.

(S.R. Acharyya)

Adviser/ Secretary

45—509 GI/2001i Uv TOE GAZETTE 0¥ INDIA, MARCH 23, 2002 (CHAFTRA 2, 1924) [PART'III—SEC. 4 UOVERNMENT OF INDIA.

MINISTRY OF LABOUR

NEW DELHI, DATED % "i February.2002. S.O......~.,,.......... WHEREAS M/S CHK Electronics (Pvt.) Limited, Krishna Houst 611. Venus Colony, Ilnd Stiect, Mfiriras-lS now at 33. Krishna Houie, 7fb Cro§§ Stttet, Shastri Nagar3 C*§nii§i4G020 (hiKlriafter refewed tp ti the establiihment) had beon grstited exerrfMiCB under section 17f!)(a) of the then Employees* Provident Funds & Family Pension rur,d Aet8 1952 (hereinafter referred to as thg Aet) vide Netification No jS.350j5'j/94-s?i.n dat§d 1,7,1594 txemptwg the said egtebliihroint ftom tht pur%
.-\KP WrlEliEAS the establishment has b©§n elggpd, the providfnt ftind dues ef gJJ iiic eijifiijy^ei have bi§n settled by the Trust und the Provident Fund Trust km been Now. iliwpfor? , in tfxweise of the ptiwtfs eQnf§FF§d iwder seetJon 17(4) §f thf EPf 4 Mp Aci, 1952 tin CsntFi! Oov§rnniint hireby easels the extmptien pmftd te the said e§tebifshmfRt with effeei fero 28,2.2002.

(ALOK AGARWAL)

UHPER SKCEITARY TO THE GQVT, OF INDIA

FILINOJJSQn/l/aOQM.IIPAKI III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHA1TRA 2, 1924) II63 EMPLOYEES PROVIDENT FUND ORGANISATION (CENTRAL OFFICE) BHAVI3HYA NIDKE BHAWAN, 14, BHIKAJI CAMA PLACE, NEW DELHI-110066.

Dated ^

NO. C.P.F.C. l(4)AM(1990)/2001

S.O. _ Whereas it appears to the Central provident Fund commissioner that tho employers and the majority of employees in relation to the following establishments have agreed that th" provisions of the Employees' Provident Fund an-3 Miscellaneous provisions Act, 1952 (19 of 1952) shouLd be made applicable to their respective establishment© nwT""lyi-

Name & address of the estt. Date of Coverage. is. N o. Code No.

1-4-95

M/s. Hydropaek India,

KN/17X58

1.

788, Vivekanand Road,

Behind Ashirwad Mangal

Karyalaya, Tilakwadi,

Be l"gaum-5 90006.

31-5-96 2. KN/HBL/

M/o. The Dharwar urban Co-op.

Society Ltd; Station Road,

17401

N"ar Alur Venkatrao Circle,

Dharwad (Hubli).

31-10-96 M/&, Vyavasaya Seva Sahakari

KN/HBL/17430

3.

Sangha Ltd; Yerebudihal,

Tq. Kundgol, Dist. Sharwar

(Hubli).

31-7-97 M/s. Ingalagi V.S.S. Sangha

4. KN/fcBL/17556

Ltd; Ingalagi, Tq. Kundgol.

(Hubli).

1-7-2001 M/s. The Sahara (Minority)

KN/21365

5.

Co-op* Credit Society Ltd;

Bijapur (Karnataka) •
1166 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC. 4
6. KN/25061 H/s. peak Network Pvt. Ltd;

1-3-2001 No. 511, Westminster/

Cunningham Road,

Bangalore.

1-4-2001 7. KN/25150 M/s. Vaishali packaging,

G_S5, Rajajinagar,

Bangalore-560044.

Now, therefore, in exercise of the powers

conferred by sub-section (4) of Section 1 of the said Act, Central provident Fund Commissioner hereby apply the provisions of the said Act, to the above mentioned establishments from and with effect from the date mentioned against the name of each of the said establishment.

(TRILOK CHAND)

REGIONAL PROVIDENT FUND COMMISSIONER.
PAKI III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1167
NO. C.P.F.C. 1(4)/1CN(1981)/2OO1

S.O. Whereas it appears to the Central provident Fund Commissioner that the employers and the majority of employees in relation to the following establishments have agreed that the provisions of .the Employees' Provident Fund & Miscellaneous Provisions Act, 1952 (19 of 1952) should be made applicable to their respective establishments namelyi-

S.No. Code No.

Name & address of the estt. Date

of Coverage,, KN/20438 M/s. Gee Dee Advertising and

1-4-2000 1.

Marketing House of Gurudev,

1st Floor, Lalbaugh,

Mangalore.

1-10-95 M/s. Sudarshan Industries,

2.

KN/HB1/17222

788, Vivekanand Road,

Behind As hirwad Mangal

Karyalaya, Tilakeadl,

Belgaum-6.

M/s. prasad Engineering Co;

1-6-2000 3.

KN/20450

Srinidhi Complex, Kambla,

Criss Road, Mangalore-3.

M/s. Puttur Computers & Software

4.

1-9-2000 KN/20451

developers, 1st Floor,

Vimalesh Complex,

Darbe puttur-571202 D.K.

M/s. Abideep Concrete Products,

KN/20493

5.

1-9-2000 4A, Shivally Industrial Area,

Manlpal-576119.

M/s. Jnana Ganga Higher primary
6.

1-1-2001 KN/20502

School, P.O. Bellare,

sullia Taluk, D.K.

M/s. A-I Products,

7.

KN/20519

1-6-2001 74, ulloor Post,

Kundapura Taluk,

Udupi Dist.
I I(i8 THP. GAZIiTTli OF INDIA, MARCH 2.\ 2002 (CHAITRA 2, 1924) [PART 111—SEC. 4
K N / M N G/ M/s, Abharan Silver and Diamonds,

8.

1-5-2001 10-2-53, Ground Floor,

20523

Rajaji Marg, udupi.

9. KN/21359 M/s. prathamlk Krushi Pattina Sahakari

1-3-95 Niyamit, Kanamadi, Tq. Sist;

Bijapur.

10. KN/22574 M / S. jinnenahally Milk Producers society 1-12-99 Ltd; Jinnonahally Hassan Taluk & Diat.

KN/25115 M/s. Alps Innovators Pvt. Ltd;

11.

1-4-2001 No. 21, 1st Main, 2nd CroSs palace Road, Bangalore.

KN/25116

12.

M/s. Trinity Coating System Ltd;

1-2-2001 105 & 106, Infantry Court,

103, Infantry Road, Bangalore.

KN/25131

13.

M/s. Detroit Diesel India Pvt. Ltd;

1-2-2001 414, prestige Centre Road,

Bangalore.

14. KN/17456 M / ST Shree Ganesh Industries,

1-4-95 Door No. 600/4, Bharath colony,

Davanagere-577003.

Now, therefore, in exercise of the powers conferred by sub-section (4) of section 1 of the said Act* Central provident Fund Commissioner hereby apply the provisions of the said Act, to the above mentioned establishments from and with effect from the date mentioned against the name of each of the said establishment.

(TRILOK CHAND)

REGIONAL PROVIDENT FUND COMMISSIONER.
PART III—She. 41 THE GAZETTE OF INDIA. MARCH 21, 2002 (CHAlTiiA 2, 1924) I \(U
No, C.F.F.C, l(4)AN(1987)/200l

$.0. Whereas it appears tp th© Central Provident Fund Commissioner that the employers and the majority gf employees in relation to the following establishments have agreed that the provisions of the Employees' provident Fund and Mi*c"Xlaneou" provisions Act, 1952 (19 of 1952) should be made applicable to their respective establishments namelyj-

3.WO.

]H"me & address of th# e s t t. Da te of Coverage

1-7-2000 KH/248B6

1.

M/a. Explore Bi". Com Pvt. t t d; 2nd Floorc Aashraya, 161, 14th A Main* HAL-IX S t a g e,

Indira Nagar, Bangalore.

H/s. Kamadolli Vyavasaya Seva

31-1-96 KN/17337

3,

Sahakari sangh Ltd;

At/pos tt-Kamado 11 i,

Tq^Kundgol, D i s t. Dharwar.

3"

M/JB, K"rn"taXa State Road Transport 1-4-2001 Corporation, Employees co-op" C r e d it Society Ltd, New Bus Stand, BIDAR-585401.

KN/213U

4,

M/9. prathmiKa Krishi p a t t i na Sana- 1-3-98 k*r" Bank Niyamitha, Hirepadasalgl, Tg. Jarnakhandi, D^at. BagalHot.

1-8-2000 Ki"/?476a

M/fl. VI eSmart p v t. Ltd; No, 272/D/12A 1 st Main, 37th Cross, 8th Block, Jayanagar, Bangalore.
1170 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
KN/17780 M/s. Dharwad District Judicial

1-10-98 6.

Employees Co-op, Credit Society Ltd;

Dharwad, District Court Compound,

Dharwad*

7. KN/17086 M/s. The New Town Consumers Co-op, 1-1-95 society Ltd; New Colony,

Bhadravathi, shimoga Dist.

(Karnataka).

Now, therefore, in exercise of the powers conferred by sub-section (4) of Section 1 of the said Act, Central Provident Fund Commissioner hereby apply the provisions of the said Act, to the above mentioned establishments from and with effect from the date mentioned against the name of each of the said establishment.

(TBILOC CHAND)

REGIONAL PROVIDENT FUND COMMISSIONER.
PAKI III—Sic. 41 THH GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1171
No. C.P.F.C. l(4)/GJ(1980)/2001

S.O. Whereas it appears to the Central provident Fund Commissioner that the employers and the majority of employees in relation to the following establishments have agreed that the provisions of the Employees' provident Fund & Miscellaneous Provisions Act, 1952 (19 of 1952) should be made applicable to their respective establishments namelyi-

S.No.

Name & address of the estt. Date of Coverage.

Code NO.

31-7-90

M/s. Lalbaug Co-op. Credit

GJ/20067

1.

Society Ltd; "Kailash",

Manjalpur Road, Baroda.

1-4-99

M/s. Unison Risk services

GJ/21589

2.

Pvt. Ltd; 609, Sidharth Complex,

Alkapuri, R.c. Dutt Road,

Baroda.

1-4-2001

M/s. Mecholean Enterprises,

GJ/21631

3.

60, Kirti Kunj Society,

Near Budhder Colony,

Karelibaug, Vadodara.

Now,therefore, in exercise of the powers

conferred by sub-section (4) of Section 1 of the said Act,

Central Provident Fund Commissioner hereby apply the provisions of the said Act, to the above mentioned establishments from and with effect from the date mentioned against the name of each of the said establishment.

(TRILORTCHAND)

REGIONAL PROVIDENT FUND COMMISSIONER. 46—509 GI/2001! 172 THfc GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) |PART III—ShC. 4

C.P.F.C. l(4)/AP(1986)/2001

5,0. ^ Whereas it appears to the Central Provident Fund Commissioner that the employers and the "T.djority of employees in relation to the following establishments have agreed that the provisions of the Employees' Provident Fund & Miscellaneous provisions Act, 1952 (19 of 1952) should be made applicable to their respective establishments namelyi-

S_,No. Code No. Name & address of t he e s t t. Date of Coverage.

AC"/4O706 M/a. The Defence s e r v i ce Employees 1-1-2001 1*

Consumer Co-operative s t o r es Ltd;

Regd. NO. 1296, D.No. 58-16-32/1,

Gurajada Nagar, NAD Kotha Road,

Visakhapatnam.

2. AP/40698 H/a. UJval Marketing S e r v i c e s,

2-7-2001 47-3-35* Nehru Bazar Road,

Dwarakanagar, Vioakhapatnam-16.

3.

AP/36175

1-7-2000 M/". primary A g r i c u l t u r al Co-op.

C r e d it #oai*ty Ltd;

V*V. P"l"m, Khammam Urban (M),

Khammam D i a t r i c t.

4.

Ap/36162

1-5-2000 M/s. Primary Agricultural Co-op.

Cradife Sdciety Ltd;

Nagulavancha (Mandal) ,

Chinth"k"ni< Khammam (Dist.)*

5, AP/36161 M/8, Pfim^ry A g r i c u l t u r al Co-op. 1-8-2000 G**ait sodioty Ltd;

QariHapaQu, Wyra (Mandal),

Khammam piat.-507165*

6. AP/36X76

Credit 1-4-2000 M/a. primary Agricultural Co-op.

Society Itft t>roddutoor,

6h;Lnt*KAnl (Mandal), Khaifwiam D i e t,PART III—She. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1173 AP/36184 M/3. primary Agricultural Co-op, Credit 1-10-2000 7.

society Ltd; Thangam Padu,

Khammam Rural (Mdl.),

Khammam Dist. 507003.

M/s. Primary Agricultural Co-op. Credit 1-8-2000 AP/36163

8.

Society Ltd; Lalapuram,

Konijerla ( M ),

Khammam Dt.

9.

M/s. Primary Agricultural Co-op, Credit 1-9-2000 AP/36220

Society Ltd; Thallachervu,

Thirumalaya, Palem (M),

Khammam Di3t.

AP/36219 M/s. Primary Agricultural Co-op. Credit 1-7-2000 10.

Society Ltd; Beer
palem (M)/ Khammam Dt.

M/s. Co-operative Rural Bank Ltd;

1-10-2000 AP/36205

11,

Nelakondapally, Regd. No. 21382,

Khammam Dt-. 507160.

M/s. Idemepally primary Agricultural 1-7-2001 12. AP/38710

Co-operative Society Ltd;

Regi§. No. V 1121. Edagali Village,

Venkatachalom Mandal,

Nellore Dist.

1^3'. primary Agricultural Co-op,

1-8-2000 AP/36188

13.

credit Society Ltd;

Yatapaka, Mandal- Bhadrachalom,

Khammam (Dist.).

1-9-94 lV³" Primary Agricultural Co-op.

AP/27348

14.

Credit Society Ltd; Sripoor,

Mandal Nagarkurnool,

Mahaboobnagar.

15. AP/36187 M/s. primary Agricultural Co-op. Credit 1-10-2000 Society Ltd; Kamanchikal,

Khammam (Rural) , Khammam Dt.

16.

Ap/36056

W/s. primary Agricultural Co-operative 1-1-2000 Credit Society Ltd Wazeedu (PO & MDL.),

Khammam (Dist.)

PIN-507136.
1 174 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
1 7. Ap/36218 M/s. Primary Agricultural Co-operative 1-4-2001 Society Ltd; Lingala, Kamepalli (M)/

Khammam Dt.

AP/38682 M/s. Drought Prono Area Programme,

1 8.

1-6-2001 Balaji Nagar, Cuddapah.

M/s. Primary Agricultural Co-operative

1-9-2000 AP/36157

1 9.

Credit Society Ltd; Chegomma,

Khammam Dt.

AP/36158 M/s. primary Agricultural Co-operative 1-9-2000 2 0.

Credit Society Ltd;

Kallurgudem, Khammam Dt.

M/s, primary Agricultural co-operative

2 1.

1-8-2000 AP/36160

Credit Society Ltd; Ashnagurthy,

Khammam Dt.

2 2.

1-8-2000 M/s. Primary Agricultural Co-operative

AP/36159

Credit Society Ltd;

Siripuram, Khammam Dist.

M/s. primary Agricultural Co-operative

1-9-2000 AP/36156

2 3.

Credit Society Ltd; Golapadu,

Khammam Dist.

1-8-2001 M/s. Kallupalli primary Agricultural

AP/38721

2 4.

Co-operative society,

Gangavaram Village, Maredupalli (PO)*

Gangavaram Mandal,

Now, therefore, in exercise of the powers conferred by sub-section (4) of Section 1 of the said Act, Central Provident Fund Commissioner hereby apply the provisions of the said Act, to the above mentioned establishment* from w*L with effect from the date mentioned against the name of each of the said establishment.

(TRILOK CHAND)

REGIONAL PROVIDENT FUND COMMISSIONER.
PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1175
NO. C"P.F.C.l(4)/APU96O)/2O01

S.O. Whereas it appears to the Central Provident Fund Commissioner that the employers arxi? the majority of employees in relation to the following establishments and Kistc^llaneous Provision^ Act, 1952(19 of 1952), should be made applicable to t h e ir respective ^Rtatolishnwrits namely i-

Code NO.

Name £. aoki r"? s w of t he E s t t.

Date of Coverage

1,4.93 AP/31876

1.

M/s. Vinyl Chemical I n d u s t r i e s, j-idavi Polaw^ Yanam

2. Ap/35141

1-3-99 M/s. S ri B a l a ji Retreads, Huk\im>!"e t a, P aj " m u r id r y, East GodavarJ L i s t.

3. AP/31782

1.1.1998 iVs, The Koyyalarjuclem Primary A g r i c u l t u r al Co-Operative cr*?f.iit- Society L t dw r:C. 2/22, Koyyal*gudem-534 312. W.G. Dt.

4. AP/30533

1,8.1997 H/s. Durga saree -^how Room, Main Road* Taciep
AP/27149

5.

1.6.1T5C IV's. Sri Veers venkata Satysnarayanc* Rice Mill, Tallapudi x 534 341, W.G. Dist.(Ap).

6. AP/33640

1 . 3 . ? 0 01 K/s. Rudrampeta P.A.C.S, L t ^ ., Ruc3rampeta (Village t post) Anantapur (Rural Mandal) A.p.

7. AP/38639

1 . 3 . 2 0 01 M/s. Rachanapalli Primary Agricultural CCIO;J Society Ltd., 0,No. 679, Anantapur(Rural) Mandal, Rachenapalli (Village & Foat) Anantapur ( D i s t r i c t ). A.P,

8. AP/3©499

1 . 4. 19<99 M/s. Sandhya Agencies, D.No. 3-62, Burugu Pu"3i (Post), Korukonda Mandal, East Godavari D i s t r i c t. Raiahmundry-533 103.
1176 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
AP/35281

9.

1.4.1999 M/s. Maharshi Sambamurthy I n s t i t u te of Social an<5 Development 3tuc3J.es, Kakinada. (AP).

AP/3667S

1 0.

1.9.2000 M/s. Rayavaram Frimary A g r i c u l t u r al Co-Op. Credit S o c i e t y, Via-Gollaprolu,. Punapuram(M), PIN j-533 445, East Godavari D i s t r i c t.

Ap/35301

1 1.

6.9.1999 M/s. East Godavari D i s t t. Primary A g r i c u l t u r al Co-Op, S o c i e t i es S e c r e t a r y 's Co-0^. C r e d it Society L t d ., No. C. 880, KaHinada, A . p.

1 2. AP/35300

1.4.99 M/a. Pedasanttarlapudi Primary Agricultural Co-Op. Credit society Ltd., PedasanHarlapudi, East Godavari D i s t r i c t,

AT/3834 2

1 3.

1.1.1999 M/s. Ramachandrapur"ani primary A/jricultural Co-Ojiterative Credit Society, Ramachandrayiuram, 5"-ethena"]farani Mandal, East Godavari D i s t r i c t.

1 4. AF/3G53*

1.3.1*99 H/s. A.K. Fashiors, Bhimavaram, West Gortavari Dir>trict,

1 5.

1.1.1*93 AP/WL/ 31257

M/s. The Husnnbad Lar?e .Gized Co-Op. Society LtrJ., Husnabad, Karimnaijar D i s t r i c t, A.p.

AP/36537

1 6.

1.1.2Ono M/s. Rohini Iiydralic Hollow Brick I n d u s t r i e s, Koramyudi Roa--i, ^ajuhu-nundry^ A.P.

1 7. AP/RJY 33360

1.4.2C01 TV's. 3 . 3. Com^ote-rF. & Consumables, Gold Market Centre, P.ajaji s t r e e t. Main Roafl, Kakinada (Ap).

AP/CP/ 38665

1.4.2001 M/s* S3I Employees Co-Operative Credit Society'Lt^., Re^d. No. K856, C/O State Bank of India Sullctings, Town Branch, N e l l o r e.

AP/3S330

1 9.

1.10,2000 M/s. Rajahmvinflry Coop Building Society L t d ., Near Owatsntra H o s p i t a l, Ra^ahmunflry, E"r.t Goflgvari W s t r i c t.

2 0. AP/36521

1.1.2000 M/s. ITavnidhi I n d u s t r i al Training Centra, Kothapeta, East Go3avari D i s t r i c t, FIN 533 223,

2 1. AP/36672

1.10.2000 M/s, Achanta Manual Coop 3uildinf Society, .Achanta, West Godavari D i s t r i c t. Fin i 534 123. (A.P.)

2 2. AP/366B3

1.1¹?,2000 Vjr,, 3u j j i F a'v r ic " P v t. L tJ. , (The R?iyiri<">n~~PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1177 2 3, AP/366^9~~

l , l l . ? 0 00 M/s, /innadata Agrimachinery (P) Ltd., Plot No. 15, Lalacheru, Rajamundry-6.

2 4. AP/35227

1.4.199?

K/s. Satyeswaipa ^wamy Primary Agrl. Co-0]". Credit Society, Sakuru, Amalayuram Mandalam, East Godavari D i s t r i c t. (Ap).

2 5. AP/35081

1.6.1^99 Kl/S" Sri Psdmarwkha Cooperative Rurfil Bank Ltd., Diveli# Ped (M), East Go<3"v"ri d i s t r i c t.

2 6.

1.9.1936 AP/RJY/ 35094

Kv^s. The Alampuram primary Agricultural Co-pf. Credit 3ociety Lt
2 7. Ap/36600

1.4.2000 H^a" The Chel"role C^-Qp. Rural Bank Ltd., Naxayanayuram, West Gwdavari D i s t r i c t.

2 8.

1.3.1995 AP/RJY/ 28449

M/s. Social Service Centre, Xavier N*far, Eluru, West Godavari D i s t r i c t. A.P.

2 9. AP/36695

1.10.2000 V>/s, The Rangapuraro Primary Agricultural C"-Op. Credit Society Ltd., W.G.70, Ranfayuram, West Godavari D i s t r i c t,

3 0. AP/RJY/ 36473

1.1.2000 Vl/9, The Ganapavaram primary Agricultural Co-Operative Credit Society Ltd., Ganapavaram, West Godavari D i s t r i c t.

3 1.

1,4.1999 -AP/RJY/ 35225

H/o. Kommara Lar^e Sized Co-C^. Credit Society Ltd., Kanmara, Ganapavaram Manual, West G"a"vari D i s t r i c t.

3 2. AP/36654

1.9.2000 M/s. Anantf Pure Ghee Sweets, fi.N*. 10 15 24 & 26, M*U RfifiJ, lajMBiBiry, P l ^ 5 33 M l.

AP/27Q53

3 3.

1.7.1994 M/s. Sri Venkata Seethamahalakshmi Rice Mill, Gunupudij. Bhimavarwn, West Godavari Diet.

3 4. AP/39t21

1,4.1*96 M/a. 3fA Saty"n"rny#n" C">-"0". VtoX\4lm "t<5i"ty fcti,, No. X 3#3, J"ff"m"^t". m at "3odav*ri D l a t r i c tt M*mi*ixw#uxy M"p
39,

ia.2000 AS"/3#514 *!/"# <9*vthnmi Qvmntt, P Ut "*, 43, 44 & 45, Diw"nch"ruvu iFanchayat, Lal*Ch"ruvn, R"j*munary^533 106,1178 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART IIIL-SEC. 4 AP/36501

1.1.1999 M/s, G. Ramesw-aram Primary Agricultural Co-op, Credit Society LtT,, G. Rameswaram, Sakhinetipalli Manolal, East Godavari D i s t r i c t, (A.P.) „

AP/35102

37,

1.3.1993 M/s, Ulimeswaram primary Agricultural Co-Operative oociety Ltd., Ulimeswaram, pedciapuram(M), East Godavari D i s t r i c t,

AP/35OS6

3 3.

1.1.1996 M/s" Latchipalem Primary Agricultural Co-Cperative Credit Society, Latchlpalem, Via Yanarn, E.G4 L i s t,

3 9. .^/SSOGS

1.3.1999 iVs. Palern P.A.C.C.5., Palem, Goneda Post, Kirlampudi (M)# E.G. Di'St.

AP/3 3 904

4 0,

1.4.1998 lV*" Kedical Health Employees Cooperative Credit Society, DM & H Office, Kakinada.

4 1. AP/35067

1,3.1999 M/s. Kattamuru P.A.C.5., Kattumuru, Peddapuram (M), East Godavari D i s t r i c t.

4 2. AP/31946 M/s. Yanam Market Committee, Yanman-533 464.

1.3.1998 4 3. AP/35082

1.3.1999 H/s. Anasuyadevi Education Society, (Durga prasad Public school), Kakinada.

4 4. AP/319S8

1.1.1999 M/s. The Chekrolu P.A.C.S. Limited, Che)"rolu, Gol laprolu (M), East G"davari, D i s t r i c t.

4 5. AP/250S7

1.4.1994 M/s. The Gorinta Primary Afrl. Co operative Credit Society Ltd., Gorinta (V), PedcUpuram(M), East Godavari D i s t r i c t.

4 4. AP/30304

1.7.1996 M/s. Tadej>alli$udem Large Sized Co-Operative Society Ltd., T.P. Gudero, West Godavari D i s t r i c t.

4 7. AP/RJY/ 35140

1.3.1997 M/s. The Malakapalli Co-op. Rural Bank Ltdl., Malaka^alli, T"llapudi (M) West Godavari D i s t r i c t.

4 8. AP/RJY 36685

1.4.2000 M/s. The Janfareddy >3udem P.A.C.C.S. Ltd., tfan§aretfdigudem, 534 447, J.B. Oualem Mandal, West Godavari D i s t r i c t.
PART III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1179
4 9.

AP/38355

1,3.2001

H/s. Malleswari 3uitin§ House,

New Cleth Market, Falakol-534 260,

west G"<9avari D i s t r i c t. (A.F.)

AP/38S43

5 0.

1.4.2001

K/a. Bhyruvani Thippa P.A.C.S, Ltd.,

Brramha Samudram (Vand Post),

Anantapur ( D i s t r i c t . ),

Now, therefore, in exercise of the powers conferred by su)"-section (4) of Section 1 of the said Act, Central Provident Fund Commissioner hereby apply the provisions of the said Act to the above mentioned establishments from and with effect from the date mentioned afainst the name of each of the said establishments.

(K.B.YADAV)

Additional Central Provident Fund Commissioner 47_509 GI/20011 180 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

2 7 FEB *vr"

Dated

C.P.F.C, l(4)/DL(1975)/2001

S.O. Whereas it appears to the Central provident Fund Commissioner that the employers and the majority of employees in relation to the following establishments have agreed that the provisions o£ the Employees¹ provident Fund anii Miscellaneous Provisions Act, 1952 (19 of 1952) shouLd be ir.ade applicable to tbair respective establishments namelyi-

iJ.No. Code No,

Date of Coverage.

PL/24498

1.

Name & address of the estt. ; M/s. Cross Trade Lines pvt. Ltdj 1-9-2000 101, Thapar Arcade, Near Azad

Apartments/ Kalu Sarai,

New Delhi.

2.

Dl/24541

M/s. Ahlcons India Pvt. Ltd;

1-1-2001 A-177, Okhla Industrial Area,

Phase-I, New Delhi-20.

Now, therefore, in exercise of the powers conferred by sub-section 1(4) of Section 1 of the said Act, Central Provident Fund Commissioner hereby apply the provisions of the said Act* to the above mentioned establishments from and with effect from the date mentioned against the name of each of the said establishment.

(TRILOK CHAND)

REGIONAL PROVIDENT FUND COMMISSIONER.
PART III—SEC. 41 THE GAZETTE OF INDIA. MARCH 23. 20(32 (CHAITRA 2, 1924) 1181
2 5 FEB 2002

Dated

-NO. C.P.F.C. l(4)/TN(1984)/2O0l/9*7

s" ° "_ Whereas it appears to the Central provident Fund Commissioner that the employers and the majority of employees in relation to the following establishments have agreed that the provisions of the Employees* provident Fund and Miscellaneous Provisions Act, 195 2 (19 of 1952) shouLd be made

applicable to their respective establishments namelyj-

S.No. Code No.

Name & address of the estt. Date of Coveraqe

1-6-2001

H/s. Ayya Vaikundar Minnagam,

TN/TI/46835

1.

Arunthangan Vilai, Azhikal,

Muttom Post,

K,K. Dist. (TN).

1-4-2001

M/s. Apex services,

TN/49469

2.

28, Ilnd Floor, New Colony,

Kodambakkam, High Road,

Chennai-34.

1-7-2001

M/s. Union pharma,

TN/MD/42560

3.

Subramaniapuram,

Karaikudi-623002(TN)•

M/s. Kayalvizhi Industries, 16-1-2001 TN/MD/42521

4.

Arasan Saraswathi Ganesan Complex,

18, Chairman A, Shanmugam Road,

Sivakasi-626123.

1.7-2001

M/s- Pabanas Chemical (p) Ltd;

TN/MD/42569

5.

5-A. A , V . T. Padasalai street,

Sivakasi-626123.
1182 iHE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) LPART III—SKC. 4
TN/MS/49390 M / S. First India Asset Management/ 1-1-2001 6.

8th Floor* Riaz Garden,

12 St 13, Kodambakkam,

High Road, Chennai-34.

M/s. S*K.T. Engineering Contractor, 1-10-99 TN/TB/43416

7.

T. Nallur, Mathur Via-622515.

(TN).

TN/TR/43586 M/s. Lord Engineering,

8.

1-4-2000

12, Electrical & Electronics

Industrial Estate, Thuvakudi,

Trichy-IB(TN).

M/s. Shree Ram Engineering Industry, 1-7-2000 9. TN/TR/43636

Plot No. E-81, SIDCO indl. Estate,

Trichirapalli-15.

1-9-2000

M/s. Shri Narmatha Fabricators,

TN/TR/43667

10.

D-42, Developed plot Estate,

Thuvakudi, Trichy-620015.

M/s. Mahalaxmi Engineering Enterprises, 1-7-2000 TN/TR/43633

11.

No. I, 11 & 12, Electrical and

Electronic Industrial Estate,

Thuvakudi, Trichy-15(TN).

1-8-99

M/s. Hindustan Man Power Service,

TN/43392

12.

44, Appu Complex, Shitra Nagar,

N.K. Road,

Thanjavur-613006.

1-9-2000

M/s. Preethi Engineering Industries,

TN/TR/43670

13.

DC-15, Developed Plot Estate,

Thuvakudi, Trichy-620015.
PART III—SEC. 41 THE GAZETTE OF INDIA. MARCH 23. 2002 (CHAITRA 2, 1924) 1183
M/s. Udhayamala Fabs, 1-9-2000 TN/TR/43668

14.

No. 5, SIDCO Industrial Estate,

Th iruve rumbu r,

Trichy-620014. (TN) .

M/s. Dlvma Engineering Co. (p) 1-5-2001 TN/43758

15.

Ltd; Tiruchitrambalam-605111.

Via-Pondicherry,

Villupuram Dist. (TN).

Now, therefore, in exercise of the pow"rs

conferred by sub-section (4) of Section 1 of the said Ast,

Central Provident Fund Commissioner hereby apply the provisions of the said Act, to the above mentioned establishments from and with effect from the date mentioned against the name of each of the said establishment.

REGIONAL PROVIDENT FUND COMMISSIONER.
1184 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
NO, C.P.P.C. l(4)/TN(1982)/2001/948

S.O. Whereas it appears to the Central provident Fund Commissioner that the employers and the majority of employees in relation to the following establishments have agreed that the provisions of the Employees' Provident Fund and Miscellaneous provisions Act, 1952 (19 of 1952) shouLd be made applicable to t h e ir respective establishments namelyi-

S.No.

Name & address of the estt. Date of Coverage,

1-7-2001

M/s. Annai Arul Enterprises,

CodeNo. T"/to/42568

1.

Plot No. 2, pallaka Puotopatti,

Kappalur, Madurai. (TN).

1-1-2000

M/s. Moolakkadu Milk producers

TN/TR/43516

2.

Co-op. Society Ltd;

L.N. patti post,

Kallakurichi (TN).

1-4-98

M/s. T.A. 69, Alivalam FAC Bank

TN/TR/43572

3.

Ltd; Alivalam (P.O.),

pattukkottai (TK),

Thanjavur (Dt.)

Pin-614602,

M/a, Veer jawan Security service

• #

TN/MD/42567

4.

1-7-2001

230-A, Railway Feeder Riad,

Rameswaram-623526.

1-5-2001

M/s. Digilog Control Systems

TN/65084

5.

(P) Ltd; A H- 141, 3rd Street,

8th Main Road, Annanagar West,

Chennai-600040.

M/s, Gurusamipalayam Handloom Weavers 1-3-2000 TN/47222

6.

Co-op. Society Ltd

Gurusamlpalayam-637403,

Namakkal Dist. (TN).

M/s. Senthil Paper Boards, 19-2-99 TN/TR/43219

7.

S P No. 240, Kadambankurichy post,

Karur D.C.G. Dist. (TN).
PART 111—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1185
8. TN/TR/43520

M/s, 2.829, Saliyamangaiam PAC Batik Ltd;

1-10-99

Saliyamangalam (Post),

Papanasam (TK.),

D i s t. Thanjavur.

1-4-2001

9. TN/TR/43741

M/s. Thiruvengadu Chit Pund (P) Ltd;

2-75 A, North S t r e e t,

Tlruvengadu-609114.

(TN).

1-7-2000

M/s. Raj Vidyalaya Matriculation School,

lO.TN/TR/43657

23, Uthira North S t r e e t,

Kuttalam, Mayiladuthurai-609801 (TN).

11* TN/TR/437Q

M/a* Ren^a-in S t y l e s,

1-11-2000

43703

No. 6, Nageswaram North S t r e e t,

Kurabakonaro- 612001 (TN).

12. TN/TR/

M/3. Tamil Nadu Bu" Service,

1-3-2000

43696

1/12, Main Road,

Kurichl & P.O.;

Thiruvidaimarudur Tk.;

Pin-612504.

13. TN/TR/43213M/s. Asian P l a s t i c s,

1-2-99

18, Anna Nagar,

Second Cross,

Karur (TN) .

14. TN/42565

1-8-2001

M/a. Bharath Vidhyalaya AMat. School,

Chinnalapatti-624 301.

15. TN/49372

1-7-2000

M/s. Carorich Enterprises,

32, Thanikachalam Road,

T. Nagar, c h e n n a i - l y.

Now, therefor*, in exercise of the powers

conferred by aub-3oction (4) of Sec. 1 of the said Act,

Central Provident Fund comnissioner hereby apply the provioions of the said Aat, to the above mentioned establishments from

and with effect from the date mentioned against the name of each of the said establishment.

(TRILOK CHAND)

REGIONAL PROVIDENT i"I™D COMMISSIONER.
1186 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
NO. C.P.F.C. l(4)/OR(1985)/200l/^9

S.O. Whereas it appears to the Central provident Fund Commissioner that the employers and the majority of employees in relation to the following establishments have agreed that the provisions of the Employees¹ Provident Fund and Miscellaneous provisions Act, 1952 (19 of 1952) shouLd be made applicable to their respective establishments namelyi-

S. No. Code No.

Name & address of the estt. Date of Coveraqe,

1-4-90

M/s. Indian Charge Chrome Ltd;

OS/4672

1.

Choudwar,

Dist. Cuttaclc (Orissa).

Now, therefore, in exercise of the powers conferred by sub-section 1(4) of Section 1 of the said Act, Central provident Fund Commissioner hereby apply the provisions of the said Act, to the above mentioned establishments from and with effect from the date mentioned against the name of each of the said establishment.

(TRILOK CHAND)

REGIONAL PROVIDENT FUND COMMISSIONER. TO,

The Controller of Publications, Govt. of India, -Department of publications, Civil Lines, Delhi-110054.

Copy tot-

The Regional provident Fund Commissioner, Bhubaneswar.

(VIMAL KATHURIA)

ASSISTANT PROVIDENT FUND COMMISSIONER,PART III—Sue. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1187 No. C.P.F.C. l(4)ARU978)/200l/*SO

S.-d. whereas it appears to the Central provident Fund Commissioner that the employers and the majority of employees in relatio/n,,to ttap following establishments have agreed that the provisions of^-the Empl-byees¹ Provident Fund and Miscellaneous provisions Act, 1952 (19 of^rss'C.) shouLd be made applicable to t h e ir respective establishmervbfl^namalyi-

Name & address of the estt. Date of Coverage.

S.No. Code No. •

M/s. Sathya Sai printing

1. KR/KC/19049

1-9-99

and Publishing Co;

Hill Road, Alwaye (Kerala).

KR/16568

2,

M/s. qovind & Cq;

1-4-2001 Pattoor, Vanchiyoojr Post,

Trivandrum-69503S

(Kerala).

3. KR/KK/17105 M/s. Calicut United Security 1-4-98

Service, Edakkad>

Calicut, Kerala.

4. KR/16511

fy's. I.C.M.R. Human Reproduction

Research Centre, 1-7-2000 Sat Hospital, Medical College,

Trivandrum (Kerala).

NOW, t h e r e f o r e, in e x e r c i se of the powers conferred by s u b - s e c t i on (4) of Section 1 of t he said Act,

C e n t r al provident Fund Commissioner hereby apply t he p r o v i s i o ns of t he s a id Act, to the above mentioned establishments frojn and with e f f e ct frowtthe d a te mentioned a g a i n st t he name of each of t he s a id e s t a b l i s h m e n t.

(TRILOK CHAND) 48—509 QI/2001

REGIONAL PROVIDENT FUND COMMISSIONER.
1 |88 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—Si£C. 4
No. C.P.F.C. l(4)/TN(1983)/2Q01/95l

S.O. Whereas it appears to the Central provident fund Commissioner that the employers and the majority of employees in relation to the following establishments have aqreed that the provisions of the Employees¹ provident Fund an-3 Miscellaneous provisions Act, 1952 (19 of 1952) should be rrade applicable to t h e ir respective establishments namelyi-

Code Ho. :

Name & address of the estt. Date of Coveraqe.

TN/TR/43511 M/s. TND, 1210 Rangcippannur

1-1-2000 1-

Women MPCS Ltd;

Rangappanur post,

Sankarapuram Taluk,

Villupuram Dist."606402.

M/s. The Kanyakum^ri CSI Medical 1-5-2001 2.

TN/TI/46846

Mission and Rehabilitation

Employees Co-op. Thrift and

Credit Society Ltd;

K.V. 123, Marthandam,

Kanyakumari Dist.

M/s. interspice Biotech (p) Ltd; 1-4-2001 TN/49506

3,

NO. 62, Luz Avenue,

Mylapore, Chennai-600004(TN).

M/s. Flora Horticulture Nursery, 1-6-2001 TN/60092

4.

4/64, Kalchathammankoil Street,

Michael Gardens,

Ramapuram, Chennai-89 "(TN)•

M/s. Vilambavur Milk Producers 1-1-2001 TN/TR/43690

5.

Co-op. Society Ltd;

Vilambavur, Kallakurichi-606262 (TN).
PART III—Sue. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHA1TRA 2, 1924) 1 l8y
TN/PC/1168

M/s- A.V. Ulco Healthcare (p) Ltd; 1-12-2000 6.

Villianoor Bahoor* Road/

Pondicherry-605110.

TN/49516

7.

Vl/s. German Polymers and Coatings

1-4-2001 (P) Ltd; Kandanchavadi,

Chennai-96(TN).

8.

M/s. jayavani Transport,

TN/49507

1-4-2001 630, T.H. Road,

Tondiarpet, Chennai-600081(TN).

Now, therefore, in exercise of the powers

conferred by sub-section (4) of Section 1 of the said Act, Central Provident Fund Commissioner hereby apply the provisions of the said Act, to the above mentioned establishments from and with effect from the date mentioned against the name of each ot the said establishment.

(TRILOK CHAND)

REGIONAL PROVIDENT FUND COMMISSIONER,1190 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PAKT III—Sue. 4

EHPLOYEES STATL INSURANCE COHPORATION

PANCHDtlEP BHAUAN;SARVODAYA N A G A RI KANPUR

N0.2i-U-34/i5/95-Loorc1. Datedl 4-3.2"^=:L.

N O T I F I C A T I ON

It Is hereby notifi&d thot Local Committees consisting of

the following members have been reconstituted by tha Chairman

oT the Regional Board, ESI Corporation, U,P. Region for Agra,

Kanpur, Meerut, Seharanpur, Raibarailly, Allahabad, Gariabad

and Jhansi areas of U.P, Region under Regulation 10-A (1) of

the Employees State Insurant* Corporation (General) Regulation,

1950 uith effect from the data of notification.

LOCAL CUPIMITTEE - AGRA

Preaidant

E*S.I.(Genan])

10-A ( 1) A

1.

Regulation

195Q.

Cbiar medical Officar,

ESI Sohama, Labour Pladical

Servicoa, UP Agra Ragion,

AGRA,

Clamber

1 0 -A ( i) B - d o- 2.

Dy, Labour Commia&ionar,

Agra or a person

nominated by him

Clamber

1 0 -A ( 1) C -do- 3.

nodical Officer Incharga,

ESI Scheme, Agra

Member

10-A (1) D

-do-

4.

Sri Pram Sagar Aggarual,

Praaidant, National Chamber

of Industriea & Commerca,

New Piarket, Jiuani Clandi,

Hgra.

PI timber

10-A (1) D

-do-

5.

Sri K.K. P a l i u a l,

Praaident, fnumbrynagar

Industries Association,

C/o Paliual Iron Foundary,

Hathras Road, Agra

-do-

Plamber

10-A (1)

6.

Sri Baljit iingh,

Praaidant, Agra Footuaar

Manufacturing & Exporters

Chambar, Neu Lawyers Colony,

Agra

Member

-do-

10-A (1)

7.

Sri Atul Kumar Gupta

Secretary, Hotel Ounsra Aasoc,

C/o Hotel Kant,

Fatehabad Road, Agra.

riamber

-do-

1D-A (1) E

e.

Sri Rajueer Singh Solanki

Divisonal P r e s i d e n t,

Rastriya Haidoor Congress

( I M T U C ), 8 0, Laraj Complex,

Namner, Agra

-do-

Hember

10-A (1) E

9.

Sri Rajsshuar Oayal Sharma

Bhartiya fiazdoor Sangh,

15/396 Saheed Bhagat Singh,

C/o Noori Oaruaza, Agra

(Phone No,2610^6)

Hember

10.

- d o-

-do-

Sri/Com* Jagdish Praaad

Sacratarjk/HITUC Mazdoor Bhauan

Nunihai Road, Rambagh,

Aara.
HAKI III—Sir 4] THE GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) 1191
10-A (1) E

Member

11.

E.S.I.C.(GENERAL)

Regulation 1950

Sri Naual Singh

Secretary, Centra or

Indian Trade Unions,

C-2, Gali Anaari,

Roohan Mohelle, Agra

1G-A (1) F

12.

Member

Secretary

Manager,

E.S.I.C.,Local Office

Agre,

AGRA:

LOCAL COMMITTEE - KANPUR

P resident

10-A (1) A

-do-

1.

Chief Medical Officer

E"S.I. Sohene, Labour

Medical Service, Kanpur

Hegion, Kanpur.

Member

10-A (1) B

-do-

2.

Oy. Labour Commissioner,

Kanpur or the parson

nominated by him

Member

3.

10-A (1) C

-do-

Medical Officer 1/c.

E.S.I. Schema,

Kanpur

4.

Member

10-A (1) D

-do-

General Manager,

M/o. L.M.L. Ltd.,

Panki, Kanpur,

5.

10-A (1)

-do-

Ganeral Manager, Member

M/i>, Dankan Induatriea Ltd.,

(Fertilizer) Panki,

Kanpur.

6.

Member

10-A (1)

-do-

General Manager

M/o. Cl.K. Jute Mills

Co. Ltd., Kalpi Road,

Kanpur

7.

1U-A ( 1) D

Member

-do-

lieneral Manager,

Pl/a, National Thermal

Pouar Corporation Ltd.,

Dibiyapur, Aourriaya.

B.

1 0 -A < i; E

-do-

Sri Srikant Auaathi, Member

Bhertiya Mazdoor Sangh UP

2-Navin Market, Kanpur

(Phone No.304883)

NH mm

9.

-do-

Sri Arvind Kumar Member

CITU, 87/152-153,

Ram Aahray Memorial Centre,

Raipurwa, Kanpur.

MM an

10.

Member

-do-

Sri Ram Narain pathak,

INTUC, 9-B-1, Bhagwan

Oaa Ghat Colony,

I.F. Estate, Kanpur.

10-A (1) F

-do-

11.

Member-

Secretary

Dy. Director (Benefit)

Regional Offica, ESIC,

Sarvodaya Nagar,

Kanpur.
I Wl THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
LOCAL COMMITTEE - PlELfluT

President

1O-"A(1) A

1 .

e.s.i. ( G E N E R A L) Regulation 1950 Chief Medical Officer t,b.I.Scheme, Labour Medical Services, Saharanpur.

2.

Member

1 O - A ( 1) 8

-do-

Dy.Labour Commissioner

Feerut or the parson

nominated by him

Member

1O-A(1) C

3.

-do-

riodical Officer Incharge

E.S.I.Scheme,

Pleerut.

Member

1O-A(1) D

4.

5ri S.K. Gupta,

-do-

• Manager Personnel,

M/e, Modi Rubber Ltd.,

Modipuram,

5.

Member

1O-A(1)

-do-

Sri D.K. Aggerual

Manager, Pi/s,Sugar Uorka,

Mawana,

tin n

-do-

6.

Sri Ajai Gupta, Member

Prop, M / B. Olampic Zippera,

fieerut.

MM N

Member

7.

-do-

Sri H.S. Oubay

Manager,

M/o. Dluan Chains Ltd.,

Heerut.

Clamber

-do-

1O-A(1) E

8* Sri Yaahuant Singh Bhertiya fiazdoor Sangh, Shanker Aohram, Shivaji Marg, Mearut.

na H

Member

9.

-do-

Sri Satyapal Singh,

CITU, Nai Baati, Doerut

MM H

Member

"do~

10.

Sri Daulat Raav

INTUC,

Saboon Godaw, Meerut.

HM N

Member

-do-

11.

Sri. Ranjit Verma,

U.T.U.C.,

R.K. Puram,

flaerut

1O-A(1) F

12.

-do-

Member

Secretary

Manager,

E.S.I.C., Local Office,

Plesrut.

LOCAL COMMITTEE _ SAHARANPUR

President

1O-A(1) A

E.S.I. (GENERAL)

Regulation 1950

Chief nadlcal Offlc"t

E.SI.Scheme, Labour

riedical Ssrvicaa,

Saharanpur Region,

Saharanpur.

Member

1O-A(1) B

"-do-

2.

Dy. Labour Commissioner

Saharanpur or the peraon

nominated by him

~do-

Membex

1O-A(1) C

3.

Medical Officer Incharge

E.S.I* Scheme,

Saharanpur

1O-A(1) D

-do-

4.

Sri Vinay Kumar Jain Member

3ain Engg. & Moulding Uorks,

P.O. 186 Jain Bagh,

Seharanpur. (A.C.C.I.)
PART III—Sir. 41 THE GAZETTE OP INDIA, MARCH 2.1, 2002 (CHA1TRA 2, 1024) 1 141
f'l e m b a r

10-A(i; D

5.

L , S . I , ( G E N L " H M L) RLGULATION 1950 Sri Pramjaet Singh Vishuakarma Machinery Works, 24, Nehru Nagar/ ' Khelsi Lines, Saharanpur.

IIII

6.

Clamber

-do-

Sri Raktish Kumar Oain

Super Ple&tic~Product,

Chhatta Baruaal, Saharanpur.

1G-A(1) E

Member 7.

E. S.I.(GENERAL)

REGULATION 1950

Sri R.K. Bohara

Member, Prantiya Karyakarni

Rajaya Committee AlruC,

Nakhaah Bazar, Saharanpur.

Momber 1O-A(1) E

8.

-do-

Sri Harihar Pandey

CITU Orfico, Railway Riad,

Saharanpur.

pitmber 1O-A(1) E

9.

-do-

Sri Sudhir Kumar Tyegi

Vill.4 P.O. Ambehata,

Saharanpur*

(Bhatriya flazdnnr Sangh)

1O-A(1J F

ID.

Member- Secretary

-do-

Manager.

E .S.I.Corporation,

Local Office, Saharonpur.

LOCAL COMMITTEE - RAIBARIELLY

P resident

1O-A(1) A

1.

E.S.I. (GENERAL)

REGULATION 1950

> Chief Medical Officer E. ,S. 1 .Scheme , Labour Medical Services, Lucknou Region Luoknou.

1C-A(1) B

Member

-do-

2.

Dy, Labour Commissioner

Lucknou or the person

nominated, by him

Member

1O-A(1) C

3.

-do-

Medical Officer Incharg*

L.S.I. Schema, Raibarally.

Member

4.

1 O - A ( 1) D

-do-

Sri Y.K. Gupta

PrssidBnt, I.I.A. .District Branch,

Raibareilly,

M/s. Accurate Processing,

M-2 Induatrial Araa-I,

Sultanpur Road, Reiberdily.

Member

1O-A(1) D

5.

-do-

Sri T.N. Khabala,

M/s. Keet Odyog,

14, Engineering Complex,

Raibareilly,

Member

10-A(i) D

6.

-do-

t Sri Kernel Srivastawe M/s. Sri Bhawtni Papar Mills Lti Induatrial Area-I, Sultanpur Road, Raibareilly,

Member

1O-A(1) E

7.

-do-

Sri D.P.. Pal,

AITUC, N.hru Civil Linos,

Raibareilly*

Member

1O-A(1) E

8.

-do-

Sri Naiem Akhatar

CITU Raibareilly Textile Mills

Shramik Sangh, M"heah Bhauan.

Noar Laxmi Hotel, Kotwali Road.

Haibareilly.

Member

1O-A(1) E

-do-

9.

Sri Ganga-Vishnu Shukla,

K"-kari Kothi, Civil Lines.

Raibarailly.

(Bhartiya Mazdoor Sangh)
1194 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
Member

1O-A(1) E

10.

E.S.I.(GENERAL)

REGULATION 1950

Sri D.S, Miahra

INTUC, Gaytri Niuas,

Near Madhuwan Hotel,

Raibareilly.

1O-A(1) F

-do-

11.

Member-

Secretary

Manager,

E.S.I. Corporation,

Local Office, Raibareilly.

LOCAL COMMITTEE - ALLAHABAD

President

1O-A(1) A

1.

E. S.I.(GENERAL)

REGULATION 1950

Chief Medical Officer

E.S.I.Scheme, Labour Medical

Servicaa, Allahabad Region,

Allahabad,

1O-A(1) B

-do-

Member

2.

Oy. Labour Commissioner

Allahabad or the person

nominated by him

Member

1O-A(1) C

-do-

3.

Medical Officer Incharge,

E.S.I. Scheme, Allahabad.

1O-A(1) D

-do-

Member

4.

Sri Giridhar Gopal Gulati

M/a. United Touai,

Leader Road, Allahabad.

1O-A(1) D

Member

-do-

5.

Sri Madan Babo Keaharuani

General Secretary, U.P. Bidi

& Patta Udyog Samiti,

60 Gadiuan Tola, Allahabad.

1O-A(1) D

Member

-do-

6.

Sri Sunil Seth Bagga.

10 Taakand Marg, Allahabad.

-do-

Member

1O-A(1) D

?.

Sri Iqubal Ahmad

Personnel Manager,

M/s. Sharuani Industrial

Syndicate Ltd.,

28 South Road, Allahabad.

Member

-do-

1O-A(1) E

B.

Sri Prakash 3i

Bhartiya Mezdoor Sangh

9-C, ByaGeorge Town, Allahabad.

1O-A(1) E

-do-

Member

9.

Sri Shanker Lai Reuat,

INTUC, 17-A, 3onhain Ganj,

Allahabad.

1O-A(1) E

"di- Member

10.

Sri Vishnu Deo Pandsy

Hind Mazdoor Sabha,

140/132 Johnaan Ganj,

Allahabad.

p~do—

1O-A(1) E

Member

11.

Sri Alok Kumar Boae

CITU, 3-Malviya Road,

Allahabad.

1Q-A(1) F

-do-

12.

Member-

Secretary

Manager

E.S.I. Corporation,-

Local Office Balua ghat,

Allahabad.
PART III—Sue. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1195
LOCAL COMMITTEE - GAZ1ABAD

1O-A(1JA

P resident

1.

£.5.1.(GENERAL)

REGULATIUN 1950

Chief Msdical Officer

E.S.I.Scheme, Labour Medical

Services, Gaziabad Region,

Gaziabad.

Plember

-do-

1C-A(1)B

2.

Dy,Labour Commissioner,

Gaziabad or the parson

nominated by him

1O-A(1)C

-do-

Hemb&r

3.

nodical Officer Incherge

L.S.I. Schams, Gaziabad,

1U-A(1)O

-do-

4.

Sri K.K. Sharma, Member

Dy .Manager,

Pl/s. Sri Rsm Piston & Rings Ltd.,

Meerut Road, Industrial Area,

Gaziabad,

-do-

1G-M(1)D

Clamber

5.

Sri P.K. Gupta

Sanior Manager, (Pers.)

Cl/e.International Co.,

Mae rut Road, Industrial Area,

Gaziabad.

1O-A(1)O

Deinber

-do-

6.

Sri M.K. Khemka

fi/a. rtathi Iapat Ltd.,

South of G.T. Road,

Gaziabad.

-do-

(lember

1O-A(1)D

7.

Sri A.K. Gupta,

Prasident-flaneger (Admn.)

U"P,Ceramic & (sotteriaa Ltd.,

G.T, Road, Gaziabad.

-do-

Plember

8.

1O-A(1)E

Sri K.P1. Teuari

CITU, 234 Lai 3handa Bhauan,

Ambedkar Road, Gaziabad.

1O-A(1)E

-do-

Sri Sukhbir Tyagi,

Member

9.

AITUC, Purani Chunggi,

riearut Road, Gaziabed.

Member

-do-

1O-A(1)E

10.

Sri Uirandra Shirohi

H.M.S., 1-G.D.A.Building,

1st Floor, Old Bus Stand,

Gaziabad.

1O-A(1)E

Member

-do-

11.

Sri B.N. Tewari

B.M.S., 4-Subhaeh Market,

Ramtey Ran Road,

Gaziabad.

1O-A(1)F

-do-

12.

Hember

Secretary

Manager,

E*5.I.Corporation,

Local Office Gaziabad,

Gaziabad.

LOCAL CQMMITTEE - 3HANSI

P resident

1O-A(1)A

1.

E.S.I.(GENERAL)

REGULATION 1950

Chief radical Officer

E.S. I.Scheme, Labour Pladical

Sarvicee, Kanpur

Member

*do-<

1O-A(1)8

2.

Dy.Labour Commissioner,

Jhanai or the parson

nominated by him

-do-

1U-A(1)C

Member

3.

Radical Officer Inchargo

E.S.I.Schame, Jhanai.

49—509 GI/20011196 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

Member

1O-A(1)D

E.S.I.(GENERAL)

REGULATION 1950

Sri Alok Malhotra,

\l ice-Prseioent

Pi/8. Dymond Cement,

Bhadora, Jhanai

5.

Member

1O-A(1)D

-do-

Sri Hanomukh Parikh,

Factory Manager,

M/s. Hindustan Lever Ltd.,

Urai. (Distt, Jalaun)

6,

10-A(i)0

Member

-do-

Sri Ramash Kumar Sarabagi

M/e. Concrete Udyog,

BijauH, Jhansi.

1O-A(1)D

Member

7.

-do-

Sri S,S. Murtl,

General Manager,

l*l/"* ftharat E x p l o s i ve Ltd.,

L a l i t p u r,

1O-A(1)E

-do-

Member

B.

Sri Flahdender Singh,

P resident,

B.H.E.L.Contractors Uorksrs

Union,

Bholf Jhansi.

1O-A(1)£

-do-

Member

9" Sri Raghurej Singh, President, iiharat Explosive Ltd., Karamchari Sangh, Lalitpur,

10,

Member

-do-

1O-A(1)E

Sri 3airam Prajapati,

P reeidant,

Hindustan Employees Union!

Sumerpur, Hamirpur.

-do-

1O-A(1)E

Member

11.

Sri Lallan Shukla

Bhartiya Plazdoor Sangh,

355/1, Civil Lines,

Jhanei.

-do-

1O-A(1)F

12"

Member-

Secretary

Manager,

E.S.I.Corporation

Local Office Jhansi,

DhANSl.

( T. K. BHATTACHARYA )

REGIONAL DIRECTOR
PART Til—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1197
UNIT TRUST OK INDIA

MUMBAI

UT/DBDM/SPD-3 / A /2000-2001 28th November, 2000

The amendments to the provisions of the following schemes:

1. Mastershare Plus Unit Scheme 1991 (Masterplus-91)

2. Capital Growth Unit Scheme 1992(Mastcrgain-92)

3. Grand Master Unit Scheme-1993(Grandmaster-93)

4. Unit Growth Scheme 10000(UGS-10000)

. # Primary Equity Fund 1995 (PEF-95)[ since renamed as PEF Unit Scheme]

/formulated under Section 21 of the Unit Trust of India Act, 1963 (52 of 1963) and Master Index Fund formulated under Section 19(1) (8) (c) of the Unit Trust of India Act. 1963 (52 of 1963) in relation to the unit scheme made under section 21 of the said Act approved in principal by the Executive Committee in the meeting held on 15"' October 1999 und reported to the Executive Committee at its meeting held on 23rd February 2000 are published herebclow.

S CHATTEKJI DEPUTY GENERAL MANAGER BUSINES&BEVELOPMENT AM) MARKETINGI igs THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC. 4

AMENDMRNTS TO EQUITY SCHEMES - REPORTING

Masicrplu-.

AMNEXUREI

MASTERSHARE PLUS-PROVISIONS MODIFIED/INSERTED

Clause Existing provisions Amended provisions No.

Highlights Highlights 1 liiiUIi-ilti- Minimum investment is 500 units 2nd item - Minimum investment is with multiples of 100 units. ts.5OOO/- with no -maximum limit. ror subsequent investments under he same folio the minimum nvestmentisRs.1000/-. Open to both resident and non 3rd item - Open to resident resident adult individuals/minors/ ndividuals and institutions as well HUFs/ Trusts/ Society/ Bodies as to NRls. OCBs and FIIs. Corporate (including banks and companies registered under the Companies Act. 1956)/ Partnership firm/ Overseas Corporate Bodies (OCBs)/ FIIs registered with SEBI and having RBPs approval under FERA 1973 The face value of a unit is Rs.10/-. 4th item -The face value of a unit Sale will be at NAV (historic) to is Rs.IO/-. Sale will be at NAV as he determined on a daily basis. at the close of the day on which the application is accepted.

HiuhligliU Item not included 8th item - Facility to reinvest the income, if any, will be available at [NAV.

Highlights Item not included 9th item - Switchover facility from the scheme to such other schemes which may be announced by the Trust from time to time or vice versa at NAV or NAV based price.

Highlit; lit* Tax benefits U/S SOL if income is declared and U/S 48 & 112 of Income Tax Act. 1961 on long term capital gains from capital appreciation under the scheme. Capital gains tax exemption U/S 54EA/54EB of the Income Tax Act. 1961. depending upon the source of fund, subject to lock-in for three/seven years respectively from the date of acceptance. 10th item - Currently Income Distribution, if any by the scheme is totally tax free in the hands of investors under section 10(33) of Income Tax Act 1961. Further, being an open end equity oriented fund it will not be subject to Income Distribution tax for a period upto 31st March 2002 under section 115R of the Income Tax Act 1961. 11th item: Capital gains prising from capital appreciation^ if any. on repurchase of units is subject to

PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1199
AMENDMENTS TO EQUITY SCHEMES - REPORTING

MaMurplLis

ax benefits under sections 48 &. 12 of Income Tax Act. 1961. 2th item: Investment eligible for availing of capital gains tax exemption under sections 54EA and 54EB of the Income Tax Act. ,961. depending upon the source of fund subject to repurchase of units only after lock-in-period of hree/seven years respectively from he date of acceptance of the application. 13th item: Value of investment in units under the scheme is completely exempt from Wealth Tax. 14th item: The Gift Tax Act. 1958 has abolished the levy of Gift Tax in respect of gifts made on or after 1st October 1998. Thus gifts of units of trie scheme are fully exempt from levy of Gift Tax.

Definition* "Acceptance date" with reference "Acceptance date" with reference lo an application made by an to an application made by an II 00 applicant to the Trust for sale or applicant to the Trust for sale or repurchase of units by the Trust repurchase of units by the Trust means the day on which the Trust means the day on which the branch after being satisfied that such office of the Trust, after being application is in order, accepts the satisfied that such application is same. complete in all respects, accepts the same. The acceptance date in respect of sale and repurchase applications received, at the franchise office / collection centre will be the date of receipt of the application at the office of the Registrar or the 5th working day (T+5) from the date of its receipt thereof at the franchise office or collection centre(T) whichever is earlier. The Trust may reduce the number of working days from 5 to a lower number, as may be decided.

1700 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
AMENDMENTS TO EQUITY SCHEMES - REPORTING

Definitions

M((!)

Applicant' mains a person having application tor ihc units under the scheme.

Definitions

No provision exists Applicant" means a person who is eligible to participate in the scheme and makes an application under Clause IV of the scheme and who is not a minor." 'Member" used as an expression under the scheme shall mean and nclude the applicant who has been allotted units under the scheme on or after26"' April.2000. "Member" also means an "unitholder" ncluding the persons holding units under a unit certificate and in the depository mode and all the expressions can be read synonymously. *

IhllnitifiiiK

M (q)

"l*erson holding units or nnitholdcr" means a person who holds units for the time being including the person holding units in the depository mode.

"'Person" shall include an eligible institution as defined above.

Definitions

No provisions exists II ("|")

"RBI" means the Reserve Bank of India established under the Reserve Bank of India Act. 1934.

Definitions

II (s)

'Registrars' means a person appointed to act as the Registrar from lime to time under the scheme.

"Registrars" means a person whose services may be retained by the Trust to act as the Registrar and Transfer Agents under the scheme, from time to time.

Definitions

II (y)

'Unit Capital' means the aggregate of the face value of units issued and allotted under the Scheme.

Definition No provision exists H (y")

No provision exists.

Definition II (hb)

Risk Fiictors III 1st item

As with any investment in securities, the NAV of the units issued under the scheme can go up or down depending on the factors and forces affecting the capita markets. There can be no assurance

"Unit Capital" means the aggregate of the face value of units sold under the scheme "and outstanding for the time being.

"Unit Trust" or "Trust" means the Unit Trust of India established under Section 3 of the Act.

In the scheme. after 2b"' April.2000. unless the context otherwise requires, in appropriate places, the term "Member/s" shall include "Unitholder/s".

Mutual Funds and securities investments are subject to market risks and the NAV of the units issued under the scheme may go up or down depending on the factors and forces affecting thePART III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23. 2002 (CHAITRA 2, 1924) 1201

AMENDMENTS JO EQUITY SCHEMES - REPORTING

capital markets.

Kisk Fnctors III

or guarantee iliat the objectives of the scheme will he achieved. Stock Lending: It is a means of earning additional income to the fund with least risk. The risk could be in the form of non-availability of ready stock for sale during the period the scrips remain lent.

4th item - Stock Lending: It is one of the means of earning additional income for the scherr- with least risk. The risk could be in the form of non-availability of ready -stock for sale during the perjod the stocks remain lent. The scheme would be exposed to risk through stock lending activity through the possibility of default by the borrower/intermediary in returning the lent securities. However, the risk would be adequately covered by taking in of suitable collateral from the borrower by the intermediary involved in the process. The Trust will have a lien on the collateral. The Trust will also have other suitable checks and controls at various places to minimise any risk involved in the securities lending process.

individuals cither singly or jointly with another or upto two other individuals on joint basis.

individuals, either singly or jointly with another or upto two other individuals on joint/anyone or survivor basis.

no provision exists.

Units & Offer IV(5)(I) (") Units & Offer IV (5) (1)

(k) any body established or controlled by or under a State or Central Act.

no provision exists.

(1) an Army/Navy/AirForce/ Paramilitary fund.

no provision exists.

(m) a Public Sector Undertaking (PSU).

The item is being deleted.

(j) A company or other body corporate alongwith another company or body corporate or an individual or individuals, none of whom is a minor. Every application shall be for a Application shall be made for a Units &,702 THE GAZETTE OF INDIA, MARCH 23, 2()02 (CHAITRA 2, 1924) [PART III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES - REPORTING

Offer ninimum of 500 units with IV (ft) nultiples of 100 units thereafter. In he case of investment of ls.50.000/- and above, the investor s advised to furnish Income Tax VA.N./G.I.R. number and I.T. Circle address ii" he/she is having SO. minimum of Rs.5000/-. There is no maximum limit and units will be allotted upto three decimal places. :or subsequent investment under he same folio the minimum nvestment is Rs.1000/-. In the case of investment of Rs.50.000/- and above by resident or NRI hrough NRO account, the investor s advised to furnish Income Tax P.A.N./G.I.R. number and I.T. Circle address if he/she is having so.

Units & Units are listed on 1° major Stock Offer Exchanges and the units may be Listing listed at other stock exchanges at IV (7) such places as may be decided by the Trust in future. The units of the scheme issued before 26lh April.2000 and remaining outstanding arc! listed on the major stock exchanges. Units being issued/sold on or after 26"' April.2000 will not be listed in any Stock Exchange.

I in its & Unit Certificate Offer The Trust shall send unit certificate IV (S) not later than ft weeks from the dale of acceptance of the application. A unit certificate is transferable and is a valid evidence of admission of the investor into the scheme. The Unit Certificate shall be in such form as may be decided by the Executive Director (il'the Trust. The Certificate will be issued in marketable lot of 100 Mastershare Plus units upto maximum number of 20 Mastershare Plus Certificates (i.e. 2000 units). For any investment beyond 2000 units one consolidated Certificate (21st Certificate) will be issued (i.e more than 2000 Mastershare Plus units). This consolidatec Certificate will be split, once free of cost, on request from investor and thereafter the split may be allowed on payment of charges as may be decided by the Trust. The non resident Indian may choose any. one*of the following Statement of Account 1) For units sold on 26"'April.2000 and thereafter the Trust shall issue a statement of account, with an assigned folio number not later than 6 weeks from the date of acceptance of application. 2) Even1 member will receive an updated statement of account under the folio ciich time any additional purchase or partial repurchase or switchover or transfer of the units pursuant to clause 9 (a) & 9 (c) below or ^materialisation of units held in depositor}' mode is made by the member under the folio. 3) The NRI investor may choose any one of the following modes of despatch of statement of account (i) At the applicant's Indian/foreign address OR

PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2(X)2 (CHAITRA 2, 1924) 1307
Grandmaster Trust is totally Tree fronvtax under scciion 10(33) or the Income Tax Act. 1961.

The scheme is required to pay an income distribution tax at the rate of 10% and surcharge of 10% thereon under Section 115R of Income Tax Act, 1961 on the amount of income, if any, distributed by ii. However, being open ended equity oriented fund, the scheme will not be subject to the said tax under the said section up to 31" March. 2002, provided more than 50% of the total proceeds of the scheme are invested in equity shares of domestic companies.

iii) Currently, any long term capital gains arising out of investment in the scheme by residents and NRIs out of rupee originated or NRO funds will be subject to treatment indicated under sections 48 and 112 of the Income Tax Act, 1961. At present the investor is required to pay tax @ 20% on long term cnpital gains after factoring the benefit of the Cost Inflation Index. However, the capital gains accruing Uvinvestments made through NRE accounts are not taxable.

iv) Value of investment in units under the scheme is completely exempt from Wealth Tax.

v) The Gift Tax Act, 1958 has abolished the levy of Gift Tax in respect of units of the scheme are fully exempt from levy of Gift Tax.

2) Eligibility for Capital Cains Tax Exemption under Section 54EA

Investment of entire or pan of net consideration arising out of transfer of long term capital assets in Grandmaster Unit Scheme will be eligible for capital gains tax exemption under Section 54EA of the Income Tax Act. 196| subject to repurchase of units only after three years from the date of acceptance of the application.

3) Eligibility for Capital Gains Tax Exemption under Section 54EB "of Income Tax Act, 1961 Investment of entire or part of capital gains arising from transfer of long term capital assets in the Grandmaster Unit Scheme will be eligible for capital gains tax exemption under section 54 EB of subject to repurchase of units only after seven years form the date of acceptance of application.

4) For Eligible Trusts

Units are approved securities under section 11(2)(b) of the.Income Tax Act 1961 . Eligible Trusts investing in units will therefore, qualify for tax exemption in respect of income and corpus under sections 11 and 13 of the Income Tax Act, 196J.

12. Constitution & Management of Unit Trust Of India

Constitution of UTI

Uni! Trust of India was set up as a statutory body under Unit Trust of India Act, 1963, with a view to encouraging saving and investment and participation in the income, profits and gains accruing to the Trust from the acquisition, holding, management and disposal of securities. It started functioning with effect from 1st July, 1964.

Management of UTI

The Management of the affairs and business of the Trust are vested in the Board of Trustees with a full time Chairman appointed by the Government of India.

Besides the Board, there is a statutory Executive Committee comprising the Chairman and two other Trustees nominated by the Industrial Development Bank of India, This Committee is competent to deal with any matter within the competence of the Board.

BoMi'd of Trustees *

1. Shri P S Subramanyam Chairman, Unit Trust of India

2. Shri G P Muniappan Executive Director, RBI

3. Shri G P Gupta Chairman & Managing Director IDBI

4. Shri N.S. Sckhsoria Managing Director, Gujarat Ambuja Cements Ltd.

63—509 G1/2001I i()X THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

Grandmaster

5. Mm !<;ijentlra I* Chitale Chartered Accountant

6. l)i. Vi.slivuiuuii V l)cs;ii Ueonomisi

7. Shri G Krislinamurthy Chairman. L.I.C.

8. Shri G Ci Vaiclya Chairman. S.B.I.

"-. Shri K CChowdhary Chairman & Managing Director, Central Bank Of India

* TIK¹ other current directorships of the Trustees are as follows:

1. Shri I* S Swbrnnmnyam (i) Chairman & Director - The India Fund, (ii) Chairman & Director - lndi;i Growth Hind, (iii) Chairman & Director - India Access Ltd. (iv) Chairman & Director - The India Public Sector Fund Ltd. (v) Chairman of Governing Council - UTI- Institute of Capital Markets, (vi) Chairman & Director - UTI Investment Advisor)' Services Ltd. (vii) Chairman & Director - UTI Investor Services Ltd (viii) Chairman - UTI-Securities Exchange Ltd.. (ix) Director- UTI Bank Lul. (x) Chairman & Director - Over-The-Counter Exchange of India (xi) Member - Life Insurance Corporation of India, (xii) Director - Discount & Finance House of India Ltd. (xiii) Director - Securities Trading Corpn. of India Ltd.(xiv) Director - National Stock Exchange of India Ltd. (xv) Trustee - Indian Institute of Software Engineering.

2. Shri G I' diipta- (i) Chairman- Small Industries Development Bank of India, (ii) Dircctor- Thc India Rind (iii) Director- India Growth Fund, (iv) Director - Discount and Finance House of India Ltd. (v) Director- Export-Import Bank of India, (vi) Director- Securities Trading Corpn. of India Lid., (vii) Director- Infrastructure Development Finance Co. of India Ltd., (viii) Director- Indian Airlines Ltd. (ix) Director- 1DBI Bank Ltd. (x) Director- National Stock Exchange of India Ltd. (x) Mem her- Life Insurance Corpn. of India, (xi) Member- General Insurance Corpn. of India (,\ii) Director- South Asia Regional Fund, (xiii) Chairman - South Asia Development Fund, (xiv) Council Member- Indian Institute of Bankers, (xv) Member- Bankers Training College (RBI), (xvi) Member- Association of Development Financing Institutions in Asia and the Pacific (xvii) Member- Institute of Banking Personnel Selection (xviii) Member- The Institute of Company Secretaries of India

X Shri N S Nckhsiiria - (i) Director - Gruh Finance Ltd. (ii) Director* Radha Madhav Investments Ltd. (iii) Director - Home Trust Housing Finance Co. Ltd. (iv) Director- Ambuja Cement foundation (v) Director Ainbuja Educational Institute

4. Shri Rujcndrn P Chitale - (i) Director - Small Industries Development Bank of India, (ii) Director- National Securities Clearing Corporation Ltd (iii) Director - .1 M Capital Management Ltd. (iv) Director - Zurich Asset Management Company (India) Ltd. (v) Director- India Index Services and Products Ltd. (vi) Director- Association of Leasing and Financial Service's Companies, (vii) Member - Executive Committee (Governing Board) of National Stock Exchange.

(viii) Member - India Advisory Board of Bank of America NT & SA (ix) Member - Investment Committee. Life Insurance Corporation of India.

5. Shri V V Dcsai - Advisor - 1CICI Limited.

6. Shri G Krishnamurthy - (i) Chairman - LIC (International) EC, Bahrain (ii) Chairman - LIC Housing finance Ltd. (iii) Director - General Insurance Corporation of India (iv) Director- Poysha Industrial Co.Ltd. (v) Chairman, Governing Board- National Insurance Academy (vi) Director- National Housing Bank (vii) Director- UTI Bank Ltd. (viii) Director - Discount & Finance House of India (ix) Director- Kunindia Assurance Co. Ltd.,Kenya (x) Director- ICICI Ltd. (xi) Chairman- Governing Body of Insurance Council

7.Shri C; G Viiidya- (|) Chairman- SB! Capital Markets Ltd. (ii) Cliairman- SBI Funds Management Lid., (iii) Chairman - SBI Gilts Ltd., (iv) Chairman - SBI Securities Ltd., (v)PART III-Stc. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1309 Grant naste* Chairman - SBI Factors & Commercial Services Ltd.. (vi) Chairman - SB1 European Bank Ltd.. (vii) Chairman - State Bank ol'Indore. (viii) Chairman - Slate Bank, of Saurashtra, (ix) Chairman - State Bank of Pmiala, (x) Chairman - State Bank of Bikaner & Jaipur . (\i) Chairman - State Bank nl'Hyderabad, (xii) Chairman - State Bank of Mysore, (xiii) Chairman - Stale Bank of Travancorc, (xiv) Chairman - State Bank of India (California), (xv) Chairman - State Bank of India (Canada), (xvi) Vice President of the Governing Council - Indian Institute of Bankers, (xvii) Director- NniioiiHl Bank for Agriculture and Rural Development , (xviii) Director - Export- Import Bank of India, (xi-x) Director- General Insurance Corporation, (xx) Member of the Governing Board & Chairman of Finance Committee- National Institute of Bank Management', (xxi) Member of the Governing Board. Chairman of the Finance Committee & Office Premises Committee &: Committee of Administrators of IBPS Employees Pro. Fund. - Institute of Banking Personnel Selection (xxii) Member- Institute for Developing & Research in Banking Technology, (xxiii) Director- Infrastructure Development Finance Corporation , (xxi'v) Director- Infrastructure Leasing & Financial Services Ltd. , (xxv) Director- Export Credit Guarantee Corporation,

8. Sliri K C Chowdhnry - (i) Chairman - Small Group on Bank Audit, Indian Banks' Association (ii) Chairman- Banking Operations. Indian Banks' Association, (iii) Chairman - Small Group on Credit Related Matters, Indian Banks' Association (iv) Chairman - 1BA Working Group for- Interaction with Trade Bodies/Associations, (v) President - Indian Banks* Association. Local Chapter, (vi) Member - Managing Committee, Indian Banks' Association, (vii) Chairman - Cenlbank Hume Finance Ltd., (viii) Chairman - Centbank Financial &. Custodial Services Ltd.. (ix) Director - Agricultural Finance Corpn. of India, (x) Director - Mastercard Asia/Pacific Board, (xi) Director - The New India Assurance Co. Ltd.,(xii) Member - Task Force, Indian Banks' Association.

13. Management of the Fund :

Name of the fund manager along with his qualifications and experience inserted.

14. Custodians

Following is inserted as required by SEBI.

The SEBI registration number of SHCIL is IN/CUS/011

Tariff structure of SHCIL is as under:

Electronic

Physical

Rs.5 per certificate

De-materialisation

5.5. basis points on

Purchase

Rs. 100 per DIP

The value of the

Transaction

Sale

5.5 basis points on Rs. lOOperDlS

The value of the

Transaction

Custody

1.5 basis points on 8 basis points

The asset value in on the asset

The custody

value in the

Custody

Off markei

5.5 basis points on

Purchases

the value of the1310 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART m—SEC. 4 Grandmaster

T ransaclion

Off market

5.5 basis points on

Sales

the value of the

Transaction

Rcmnierinlfsation

Rs. 15 per certificate

Or 15 basis points of

Conversion value

Whichever is higher

15. Auditors

M/s. Chaturvcdi & Company. Chartered Accountants, 60, Bentik Street. Calcutta 700 069 and M/s Bat I i hoi & I'urohit. Chartered Accountants, National Insurance Building, 204. D N Road, Fort, Mumbai 400 001. The auditors of the scheme are appointed by the IDB1 and they are subject to change from year to year.

(6. Til hie showing Investors' Grievance Hctlrcssal datn inserted

17. PENALTIES. PENDING LITIGATIONS. MATERIAL FINDINGS OF INSPECTIONS/ INVESTIGATIONS

1. There are no cases relating to penalties awarded by SEBI under the SEB1 Act or any of its regulations (ir by any Slock Exchanges (where the units of the schemes of the Trust are listed) against the Unit Trust of India/Board of Trustees, or any of the Trustees or key personnel (specifically I he fund managers),

2. There tire no pending material litigation proceedings incidental to the business of the Unit Trust of India including the Board of Trustees or any of the trustees or key personnel. There are no pending criminal cases against the Unit Trust of India, Board of Trustees or any of the Trustees or key personnel.

3. Neither SEBI nor any pther Regulatory Agency has specifically advised that any deficiency in the systems and operations of the Unit Trust of India be disclosed in the offer document.

4. There are no enquiry/adjudication proceedings under the SEBI Act and the Regulations made thereunder, against Unit Trust of India, Board of Trustees/Trustee, or key personnel.

18. TaI)Ie giving condensed financial information insertedPART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1311

ANNEXURE1

UCS 10000-PROVISIONS MODIFIED/INSERTED

Clause No. Existing provisions

Amended provisions

Highlights

3rd item

5th item - Sale and repurchase will be based on the NAY as at the close of the day on which the application is accepted. Sale will be at 3% load to NAV.

Sales after initial offer period will be at 3% load to NAV and Repurchase will be at NAV.

6th item - Repurchase will be at NAV. Partial repurchase permitted subject to a minimum balance of Rs.5000/- per folio, Highlights

5th item

Tax benefits U/S 48 & 112 of Income Tax Act, 1961 on capital appreciation.

10th item - Capital gains arising from capital appreciation, if any, on repurchase of units is subject to tax benefits under sections 48 & 112 of Income Tax Act, 1961.

Highlights

thitcm

11th item - Investment eligible for availing of capital gains tax exemption under sections 54EA and 54EB of the Income Tax Act, 1961. depending upon the source of fund, subject to repurchase of units only after lock-in-period of three/seven years respectively from the date of acceptance of the application.

Capital gains tax exemption under sections 54 EA/54 EB of the Income Tax Act, 1961 subject to lock-in for three/seven years respectively from the dale of acceptance.

Following inserted:

Item not included

Highlights

3rd item - Minimum investment is Rs^SOOO/- with no maximum limit. For subsequent investments under the same folio the minimum investment is Rs.1000/-.

4th item - The face value of a unit is Rs.10/-.

7th item - Facility to reinvest the income, if any, will be available at NAV.

8th item - Switchover facility from the scheme to such other schemes which may be announced by the Trust from time to time or vice versa at NAV or NAV based price.

9th item- Currently Income Distribution, if any by the scheme is totally tax free in the hands of investors under sectionl0(33) of Income Tax Act 1961. Further, being an open end equity oriented fund it will not be subject to Income Distribution tax for a period up to 31" March, 2002 under section 115R of the Income Tax Act 1961.

12th item - Value of investment in units under the scheme is completely exempt from Wealth Tax.

13th item - The Gift Tax Act, 1958 has abolished the levy of Gift Tax in respect of gifts made on or after 1st October 1998. Thus, gifts of units of the scheme are fully exempt from levy of Gift Tax.

Investments in units of the scheme are subject to

Mutual Funds and securities investments are subject to market risks and the NAV of the units issued under the scheme may go Risk Factors ^.,1^ ^ ^m nc rMniA MAPrH M 7(107. rCHAURA 2. 1924) [PART III-^SBC. 4 'ist'itemi

up or down depending on the factors and forces affecting the i 1 capital markets.

market risks and the NAV j > of the Scheme may go up or down depending on the influence of market forces on the Scheme's portfolio.

vJot provided for

I Risk

Factors

4th item - Derivatives: Trading in derivative securities like options & futures is a highly specialised activity and entails greater risk than ordinary investment. Even though the scheme ntends to use the activity of trading in derivatives only for portfolio hedging purposes, the overall market in these segments could be highly speculative due to the actions of the other participants in this market. The success of trading in derivatives depends upon the ability of the fund manager in predicting the future movement of the market and if the fund manager is incorrect in their prediction the performance of the fund could diminish compared to what it would have been if this investment strategy had not been used.

5th item - Investment in overseas market: The success of investment in overseas market depends upon the ability of the fund manager in understanding of those market conditions & analysing the information, which could be different from Indian markets. As this would involve operations in foreign markets there could be-exchange rate fluctuations risk besides market risk.

6th item - Stock Lending: It is one of the means of earning additional income for the scheme with least risk. The risk could be in the form of non-availability of ready stock for sale during the period the stocks remain lent. The scheme would be exposed to risk through stock lending activity through the possibility of default by the borrower / intermediary in returning the lent securities. However, the risk would be adequately covered by taking in of suitable collateral from the borrower by the intermediary involved in the process. The Trust will have a lien on the collateral. The Trust will also have other suitable checks and controls at various places to minimise any risk involved in the securities lending process.

checks and controls at various places to minimise any risk involved in the securities lending process.

Constitution The existing information will be replaced by the & M anagement information given under of UTI, item 9 of AnnexureJII. Other Directorsh ips of the Trustees Refer item 9 of Annexure III

"Acceptance date" with Definitions reference to an application H(a) made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the Trust "Acceptance date" with reference to an application made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the branch office of the Trust, after being satisfied that such application is complete in all respects, accepts the same. The acceptance date in respect of sale and repurchase applications received at the franchise

PABT ITI-SEC 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1313
after being satisfied that \ such application is in order. | accepts the same.

1

office/collection centre will be The date ot receipt of application 1 aL the office of the Registrar or the 5"' working day (T+5) from the date of its receipt thereof at the franchise office or collection centre(T). whichever is earlier. The Trust ma)- reduce the number of working days from 5 to a lower number, as may be decided.

Definitions

Mo provisions exist

11 (ea)

"Member" used as an expression under the scheme shall mean and include the applicant who has been allotted units under the scheme on or after 23.02.2000. "Member" also means a '"unit holder" holding units under a unit certificate and both the expressions can be read synonymously.

expressions can be read synonymously.

Definitions II (ha) "Person" shall include an eligible trust as defined above. No provisions exist

Definitions 11 (hb) No provisions exist "RBI" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934.

Application for Units IV (l)(i) a resident individual or a NRI either singly or jointly with A resident or non-resident another of up to two other individuals on a joint / anyone or adult individual singly or survivor basis. with another individual on joint / either or survivor basis.

joint / either or survivor basis.

Application for Units IV(1) (xi) an Army / Navy / AirForcc / Paramilitary fund, No provisions existed for (xii) a Public Sector Undertaking (PSU). all categories of intended (xiii) Financial Institution investors (xiv) a Foreign Institutional Investor (FII) registered with SEBI

Minimum amount of investment V Application shall be made for a minimum of Rs.5000/-. There is Application shall be made no maximum limit and units will be allotted up to three decimal for minimum of Rs. 5000 places. For subsequent investment under the some folio the and thereafter in multiple of minimum investment is Rs. 1000/-. In case of investment of Rs. 1000/-. Maximum limit Rs.50,000/- and above, the resident or a NRI investing out of for investment per investor non-resident ordinary account is advised to furnish Income Tax is Rs. 10,000/-. When the P.A.N./G.I.R. number and I.T. Circle address if he/she is havinp units are open for the sale so. after the initial offer period this could be relaxed. Units will be allotted in fractions upto three places after the decimal.

Mode of Payment V i n (1) (1) &(ii) (1) (i) The payment for the (a) The payment for units by an applicant shall be made by him units applied for by an along with the application in cash, cheque or draft. When applicant shall be made by applications are submitted at branch offices of the Trust, him along with the cheques or drafts should be drawn on branches of banks within application in cash, the city/town where the branch office of the Trust at which the cheque or draft. Where application is tendered is situated. applications are submitted (b) If the payment is made by a cheque/draft, the acceptance of an at the branch offices of the application will be subject to such cheque/draft being realised. Trust, cheques or drafts (c) If, the application amount is less than the minimum should be drawn on investment under the scheme, the entire amount shall be branches of banks within refunded to the applicant at his cost in such manner as the Trust the city where the branch

1314 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
mav deem fit,

•

(d) NRls should submit their applications preferably at the NRJ Branch. Mumbai or at any of the Branches of the Trust along with NR(E) / NR(O) cheque or a rupee draft payable at the place where the application is submitted.

office at which the ¹ application is tendered is situated. Provided however thai the applicant who wishes to apply for units from a place other than where the Trust has its branch office/collection centre /franchise office/ designated branch of a bank may do so by sending the application to the branch office of the Trust along with the bank draft for number of units applied for after deducting therefrom charges payable for bank draft as per the guidelines of the Indian Banks Association. The collection centres/franchise offices arc authorised to accept applications along with cheque payable locally or demand draft payable at places up to which the scheme is decentralised in which case the applicant may deduct charges as per the guidelines of Indian Bonks Association, e.g. if the application amount is Rs. 10,000/- the bank draft charges for this amount is Rs.20/-. Thus the draft can be prepared for Rs.9,980/-( i.e. Rs..l 0,000/- less Rs.20/- ). The draft commission charges will form a part of the initial issue expenses of the Scheme.

However, in case of

applications received along

with local bank draft where

UTI has its branch

office/collection centre/

franchise office bank draft

commission will have to be

borne by the investor.

(ii)If the payment is made

by cheque , the acceptance

fat *"U, tujtyct U sucJL
„ .„ in v... „, THPfiAZKTTF.OF INDIA. MARCH 2.V 2002 (CHATTRA 2, 1924) 1211
AMENDMENTS TO EQUITY SCHEMES - REPORTING

Miisicrplic

(g) Other provisions will be to the extent provided in the regulations.

(h) The facility of the statutory nomination is available to a member under Section 39A of the Unit Trust of India Act. 1963. Accordingly, where a nomination in respect of any unit has been made in accordance with the UT1 General Regulations, 1964. the unit shall, on the death of the member(s). vest in the nominee artd the nominee shall be issued a statement of account in respect of the urlit so vested subject to any right, title, claim or other interest of any other person to or in respect of the said units as provided in such regulations and subject to any charge or encumbrance over the said units. Transmission made by the Trust as aforesaid shall be u full discharge to the Trust from all liability in respect of the said units. I

right, title, claim or other interest of any other person to or in respect of the said units as provided in such regulations and subject to any charge or encumbrance over the said units. Transmission made by the Trust as aforesaid shall be u full discharge to the Trust from all liability in respect of the said units. I on 1

Repurchase will be effected "lUpiirth Repurchase will be effected on receipt of the duly executed use of receipt of the Unit Certiricale duly repurchase request form/unit mills' discharged. Partial repurchase shall certificate duly discharged. Partial .Vil pur.i be permitted subject tti the ofVFI(l) repurchase shall be permitted unilholder maintaining a minimum subject to the member maintaining balance of 500 units per folio. a minimum balance of Rs.5000/- per folio to be computed at the repurchase price applicable as on the date of acceptance of repurchase application. "Ucpurch In case of non-resident mvWsWS. In case of non-resident investors, IINC of repurchase proceeds **$" be repurchase proceeds will be remitted depending upon the remitted depending upon the units' source of investment as follows: source of investment as given VII (3) below:- a) Where units have been (i) When units have been purchased out of remittance in purchased from remittance in foreign exchange from abroad or foreign exchange from abroad/by from the proceeds of the member's cheque/draft issued from proceeds FCNR deposits or from funds held of unitholder's FCNR deposit or in member's Non-Resident from funds held in unitholder's External (NRE) Account with Non-Resident (External) Accoun

a

51— 509GI/2001nn THE CAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES - REPORTING

MilMCrplllS

>ank in India, the proceeds can be

emitted to the member in foreign

currency or credited to NRE or

Non Resident Ordinary (NRO)

account or paid to his relative in

crediting the unitholder's Non- b) Where units have been Resident (External) Account purchased while the applicant was provided lie continues to be a resident in India or out of funds resident abroad. It can also be sent leld in members NRO Account, lor crediting to his Non-Resident he repurchase proceeds will be (Ordinary) Account if desired by sent either to the investor's baiikers the unitholdcr. n India for credit to his NRO account or to a relative of the investor in India. (ii) When units hnvc' been purchased from funds held in unitholder's Non-Resident (Ordinary) Account, the proceeds will be Hem to the unitholder's relative in India for crediting to the uniiholdcr's Non-Resident (Ordinary) Account. 'Ui'purch 1 No provisions exists IIMC or unltK* VII (4) lU'purclui Iluy-Uuck Of Units: MO Of IJIlltN Notwithstanding anything to the contrary In the provisions of the VII (") •chomc; (n) The Trust muy buy buck units under tho scheme from the markot m the ruling price whenever such units are quoted at 10% or more below lu NAV. (b) The Trust may buy back upto 25% of the unit capital issued under the Scheme in any one llnanclal year as an overall limit The units which are bought back will be redeemed. Explanation:

In case of1 Fits, repurchase proceeds will be credited to the Special Non-Resident Rupee Account or as per Instructions Issued by SE3I/RBI from time

Buy-Back Of Units: Notwithstanding anything to the contrary in the provisions of the Scheme so long as any part of the unit capital remains listed on any stock oxchunge: (a) The Trust'may buy back such units from the market at the ruling price whenever such units are quoted at 10% or more below Its NAV. (b) The Trust may buy back up to 25% of such unit capital Issued under the Scheme In any one financial year as an overall limit. The units which are bought back will be extinguished.

PART ill—SF.C. 4] THE GAZETTE OF INDIA, MARCH 2\ 2002 (CHAITRA 2, 1924) J213^
AMENDMENTS' TO EQUITY SCHEMES - RE["OftTirSG

M.iMcrpluv

Explanation

1) "Market" means any of the recognised Slock Exchanges on which the units under the Scheme arc listed.

(i) "Market" means any of the recognised Stock Exchanges on which the units under the Sghcme are listed.

(ii) "Ruling Price" means the market price of units on the recognised Stock Exchanges ruling at the time units are bought back by the Trust.

2) "Ruling Price" means the market price of units on the recognised Stock Exchanges ruling at the time units are bought back bv the Trust.

No provision exists

VII (6) Switchover (i) Members under the scheme will be permitted to switchover their investment from the scheme to such other schemes or vice versa which may be allowed by the Trust from time to time. In such a case they may apply for the switchover by submitting their request in the prescribed Composite Services Form (CSF)/duly signed unit certificate, if any. (ii) The switchover will be effected at NAV or NAV based price as may be decided by the Trust, (iii) Partial switchover from the scheme to such other schemes or vice versa which may be announced by the Trust from time to time should satisfy the condition of holding minimum investment limit under both the schemes. The Trust shall retain the unit certificate, if any, for cancellation and the member shall be issued fresh statement Of account, of both the schemes, (iv) Investment made in the scheme for the purpose of availing benefits under section 54 EA/54 EB of the Income Tax Act, 1961 shall not be permitted to be switched over before the expiry of the lock-in-period of 3 and 7 years respectively.

t Income Distribution r (a)Although growth is the

(a) The Trust may or may no declare income distribution unde

VIII. Income1914 THE GAZETTE OH INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES - REPORTING

MiiMcrpHis 1111(1

Distiilmti,

on

objective of the scheme, the cheme may make income listribution from time to time.

lie scheme depending upon the ncomc received under the scheme ind the expenses accrued hcreunder.

b)Such of the members whose names appear m the fqzister. of membeFs as at theelose oi'-fe^isters )rior to the declaration of income distribution by the scheme shall be entitled to receive the income so distributed under the scheme.

(b) Tlie Trust may decide to nake such distribution of income as it considers necessary and transfer such sum or sums as it may deem fit out of the income not distributed to one or more reserve funds. The reserve funds which are not earmarked for application for nny specific purpose shall, be applied for or used, onJy for the. benefit of the unithoJders.

(c)The income distributed by the scheme shall be paid through ECS, wherever such facility is available or by a cheque or warrant encdshable__at the branches of such bank/s as the Trust may specify under pre-paymcnl arrangements with the bank/s.

(c) Income distribution to the unitholders shall be made as soon as may be. after the closing of the annual accounts of the Scheme as on 30th June each year.

(d) In case of declaration of income distribution, the Income Distribution Warrants shull be despatched within 42 days from the date of declaration of the income distribution

(c)Rcinvcstmcnt of income distributed:

(d) Such of the unitholders whose name appear in the register of unilholders as at the close of registers prior to the declaration of income distribution by the Scheme shall be entitled to receive and retain the income so distributed.

(e) In case the yinitholder has transferred the -units prior to the declaration of income distribution and the transfer has not taken effect, the transferee shall not be entitled to the income distribution subsequently unless the transferee has lodged the transfer documents with the Registrars 30 days before the closure of the registers preceding the declaration of the income distribution.

The member may opt for reinvestment of income if any, declared by the scheme, in further units. In the event of an exercise of such an opiion the whole of the income on his unitholding, after deduction of tax, if any, instead of being paid to the member in the manner provided in Clause VIII (c) hereinabove shall be reinvested in further units of the scheme at NAV and credited to his folio. A fresh statement of account will be issued pursuant to such crediting.

ft Bank particulars of investors & Electronic Clearing Service:

(0 The income distributee shall be paid by the Master Plus Scheme by checjue or warran drawn on its bankers witlPATT ITI—SHT 41. THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) ¹ ² ¹⁵

AMENDMENTS TO EQUITY SCHEMES - REPORTING

i\l,MCT|llllS appropriate payment facilities.

(g) It shall be lawful for a unitholder to receive and " any income distributed declared by the Scheme in respect of units of which he is a holder notwithstanding that the units have already been transferred by him for consideration unless the transferee who claims the income from the transferor ha* within 15 days of the date on which his income became Hue. lodged the certificate and air* other documents relating to the transfer. In case of declaration of dividend, the Income Distribution Warrants shall be despatched within 42 days from the date of declaration of the dividend.

i) In order to avoid fraudulent 1 encashment of Income Distribution Warrants/Repurchase cheques/ Maturity cheques. SEBI has made it mandatory for investors, in tlieir own interest to- give bank particulars at the appropriate place in the application form. Applications without bank particulars will he rejected. Accordingly, applicants residing outside the eleven cities given at item (ii) below are requested to give the full padiculare-of i their bank account (i.e. nature of account, account number and name of bank) at the appropriate space in the application form as well as on the acknowledgement receipt portion for record. Income Distribution Warrants/repurchase cheques will then be made out in the name of the member with the bank particulars for crediting the member's account so specified and sent to them.

(h) Income Distribution to the unit holders . holding units in depository mode shall be made in accordance with such rules/regula'lions as may be formulated from time to time.

ii) Currently ECS facility is being made available to investors from Mumbai/Calcutta/ Chcnnai/Ncw Delhi/ Ahmedabad/ Baroda/ I'une/ Bhubaneshwar/ Bangalore/ Hyderabad/ Jaipur (number of centres may be added/deleted prospectively) for direct credit to their bank accounts at the respective centres and where the amount of single instrument does not exceed Rs.5.00.000/-. The investor will be given a statement giving details of credit to his bank account, iii) The bank branch of the investor will credit his account and indicate the credit entry with "ECS" in the passbook/statement of bank account. The applicant is requested to fill up the particulars of namei-MA TUP P.A7PTTP OF TNniA MARCH 7~\. 2002 fCHAlTRA 2. 1924) TPART III—SEC, 4

AMENDMENTS TO EQUITY SCHEMES - REPORTING

Miisicrplui

and address of his bank, nature and number of account. 9 digit Bank and branch MICR code no. etc. in the application form. iv) In case the number of investors from aforesaid cities are not sufficient enough or for any other reasons, the Trust may pay the income by issue of income warrants carrying Bank Account details instead of paying income through -ECS". a) Income Distribution to NRI/OCBs investors Income distribution to NRI/OCBs investors shall be made as per the Exchange Control Regulations. The present position regarding payment of income is as follows: i) The warrant cun be issued in the name of the member and sent to a relative who is resident in India for crediting the NRE7NR0 account.of the member, as the case may be. OR ii)The warrant can be issued in the name of a relative who is resident in India and sent to him for being credited to his account. h) ECS facility is also available to NRI investors who have their own bank accounts in Mumbai. For those NRI investors who wish to credit the incorhe distribution to their resident relative's account. ECS facility could be extended to them at places as indicated in sub clause VIII(f) (ii). i) In case of FIIs. income distribution will be credited to the Special Non-Resident Rupee Account or as per

„ . ._ tit c^ AI T HP r.A7P.TTF. OF INDIA. MARCH 23. 2002 (CHAITRA 2, 1924) 1217
AMENDMENTS TO EQUITY SCHEMES - REPORTING

Moflcrplus

instructions issued by SEB1/RBI from time to time.

Investment The following shall be deleted Objectives rom 'Investment Objectives' r x f i ) ind the latest provisions on the snmc shall be included suitably inder 'Investment Policies1 Trading in derivatives as and when t is permitted and as per the guidelines proposed to be issued iy SEBI in this regard. Subject to authorisation from SEBI ind the Government oflndia. UTI. n appropriate circumstances, may use techniques and instruments, such as futures and options and >ther derivatives subject to applicable regulations and counter- party risk assessment, as and when (hoy become permissible in the Indian market, for the purposes of achieving the investment policy, heading or minimising the risk. In addition, subject to applicable regulation* and counter-party risk iiHHCsamcm. the scheme may borrow or lend stock. Stwk li/mllng;' The Scheme may, IVom time to time, give on loan Hccuritlei in which it has invested, lor a temporary period ai per securities lending scheme of SEBI. (hwmiiut Investment:- The scheme may Invest in Hecuritles issued by overseas/foreign companies and limed abroad or securities issued by Indian corporatei to foreign/overseas Investors and listed on foreign stock exchange directly by subscribing to such issues or purchasing on foreign stock exchanges as per SEBI guidelines issued from time to time. Investment Policies Subject to requisite authorisations, the Trust. in .appropriate circumstances, may use techniques and instruments, such as futures and options and other derivatives subject to applicable regulations and counter-party risk assessment, as prescribed by SEBI from time to time, for the purposes of achieving the investment policy of the scheme or hedging or minimising the risk. (iv)(a)The scheme will participate in the stock lending programme. In accordance with the terms of securities lending scheme announced by SEBI. The activity shall be carried out through approved intermediary. (b)The maximum exposure at any point of time of the scheme towards stock lending would bo 10% of the market value of the equity portfolio of the scheme or such limit as may be specified by SEBI. (c) If mutual funds and the Trust are permitted to borrow stocks the scheme may in appropriate circumstances borrow stocks In accordance with SEBI guidelines in that regard. (d) The scheme may invest in securities Issued by overseas/ foreign companies and listed abroad or securities issued by Indian corporotes to foreign/ overseas investors and listed on foreign stock exchange directly by subscribing to s^ich Issues or 1 purchasing them on foreign stock

11, a THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART m—SEC. 4
AMENDMENTS TO EQUITY SCHEMES- REPORTING

Maslcrplus

exchanges in accordance with the SEBI / RBI guidelines in thai regard from time to time.

Fiiiul;im-

Any change in the fundamental attributes of the scheme will be carried out only if:

Llllill Attributes lust paragraph <>nx2

(i) the existing members are intimated by individual communication and (ii) an advertisement is given in English daily newspaper having circulation all over India and also inaMarathi newspaper, (iii) the members are given an option to exit at prevailing NAV without any exit load.

Any change in the fundamental attributes of the scheme will be curried out only with the consent Of not less than three-fourths of the unitholders. Further in the event of change in the fundamental attributes, those who do not give tlieir consent will be allowed to redeem their holdings in the scheme. The Board may from time to time add to or otherwise amend this scheme and any amendment/ addition thereof will he notified in the official Gazette. In case of any amendments prior approval of SEBI shall be obtained.

The Board may from time to time add to or otherwise amend this scheme and any amendment/ addition thereof will be notified in the Official Gazette as required in terms of Unit Trust of India Act. 1963. Any change/ amendment/ modi- fication of the fundamental attributes of the scheme will be made with the prior approval of the SEBI. In respect of other chnnges/nmendmcnls/modifications not being of fundamental nature and not affecting the interest of the investor adversely. SEBI will be. kept informed.

No provision exists

Investment policies IX (3) (vii)

The scheme shall invest not more than 10% of its NAV in the equity shares or equity related instruments of any company.

Refer to item 2 of Anncxure III

i

The existing provisions have been replaced by the provisions giver under item 2 of Anncxure 111.

i Refer to item 3 ol Annexure III V:i)u;iti(in of assets pertaining tn this scheme XII (2) Arcnuntinc Policies XIII.

The existing provisions have beer replaced by the provisions giver under item 3 of Annexure III„ . .. .., ^,, AI THP r.AZRTTH OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) 1219 AMENDMENTS TO EQUITY SCHEMES-REPORTING

M.WLTpIl"-

Refer to item 4 of Annexure III I

The existing provisions have been replaced by the provisions given under item 4 of Annexure III

Tn\ Treatment of invmnicnl* XIV

XIV Im cs tors' No provision exists 7th Item. Any change in the Rights fundamental attributes" of the inid scheme will be carried out if the Services investors are allowed to exit at XV NAV besides being intimated by individual communication The existing items 7 & 8 shall be renumbered as 8 & 9.

Constituti Data updated as per items 5 & 6 of Refer to items 5 & 6 of Annexure on & Annexure III. III M;m:i(;cni ent or Unit Trust of India XVI.

Oilier Refer to items 7 & 8 of Annexure Data on Custodians and Auditors service III updated as per items 7 & 8 providers respectively of Annexure III. for tin- scheme XVII.

Investors' Data updated as per item l) of Refer to item 0 of Annexure (11 Grievance Annexure III. Redress ill XVIII

Penalties, 2. There are no pending, material 2. There are no pending material Pauline litigation proceedings incidental to litigation proceedings incidental to lilltMtlons. the business of the Unit Trust of the business of the Unit Trust of Miitcrinl India including the Board of India including the Board of Findings Trustees or any of the trustees or Trustees or any of the trustees or of key personnel. There are no key personnel. Inspection*/ pending criminal cases against the Investipit Unit Trust of India. Board of ions Trustees or any of the Trustees or

1 document.

Existing item 3 renumbered as 4.

Oilier

Condensed financial Information Performance of the Fund vcr$ei i USE senses and 'Portfolio wis< disclosure has been updated.

-52—509GI/200I, T>M T HF (V47FTTF Oh' INDIA. MARCH 21, 2002 (CHAITRA 2, 1924) [PARI III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES- REPORTING

Miisicrrilii'

ANNEXUREII

MASTERSHARE PLUS- PROVISIONS TO BE DELETED

Cliiusv IVn.

Existing provisions

Listing on major Stock Exchanges.

Remarks Deleted as units will not be listed.

Hiuhli/jhts

seven :h !

item

Definitions

Deleted.

II [et

"Application" means the form of application prescribed for offer of units for all applicants and containing the terms and conditions for the purpose of units subscription to the scheme for the investing public.

Deleted.

Definitions } II (0

"Allotment" means allotment of units against a valid application in a manner determined by the Trust for the purpose. "'Date of allotment" shall be the acceptance date.

Delmitii! is

11(10

Deleted as the name Masterplus is already defined under item 2 (1).

Deleted as such holding permitted only on transfer.

Units cV\ Offer IV (5) (1)

"Mastcrsharc plus" means units as hereinafter defined and the share or unit in the capital of "Mastcrshare Plus Unit Scheme" or 'Master Plus" as hereinafter defined. (j) A company or other body corporate alongwith another company or body corporate or an individual or individuals, none of whom is a minor.

Deleted as draft charges will be borne by investor.

'Sale of units' second mill third psira of VI (2) (i)

Provided, however, that the applicant who applies from a place other than where the Trust has its branch office/collection centre/ franchise office may do so by sending the application to the branch office of the Trust alon" with the bank draft after deducting therefrom charges payable for bank draft as per guidelines of Indian Banks Association. The collection centres/franchise offices are authorised to accept application!! ntongwith cinque payable locally or demand draft payable at place* where the concerned branch of UTI li situated In which eaie the applicant may deduct charges a" per the guidelines of Indian Banks Association, e.g. If the application amount Is Ri.10.000/- the bank draft charges for thli amount Is Ri.30/-. Thus the draft can he prepared for R I . 9 , 9 8 0 / - ( 1 J. KN, 10,000 \m ROOM, The draft commissionp.nr ui—Srr 41 THE GAZETTE OF INDIA, MARCH 21, 2002 (CHAITRA 2, 1924) 1221

AMENDMENTS TO EQUITY SCHEMES - REPORTING

M.MLTPIU-

harges will form a part of tin; expenses of the cheme.

lowever. in case of applications received llony, with local bank draft where the Trust ins its branch office/collection centre/franchise office bank draft commission

\ ill have to be borne by the investor.

List cover the amount payable for the units applied decimal places. MMltblUT "or. the .applicant shall be issued such lower <>f C'lilllSC lumber of units in multiples of 100 units Vl(2)(ii) subject to minimum of 500 units) as could ie issued under the scheme, the balance due to him shall be refunded at his cost in such manner as the Trust mav deem fit.

•Sale of 11 the amount tendered by way of payment Deleted as units will he units* for the units applied for is not sufficient to allotted upto three Third last cover the amount payable for the units applied decimal places. SHlU'lKT lor. the applicant shall be issued such lower of clause number of units in multiples of 100 units (subject to minimum of 500 units) as could VI (4) be issued under the scheme, the balance due to him shall be refunded at his cost in such manner as the Trust may deem fit. 'Kepurch Deleted as units will not use of be listed units1 clause V | | (5)

Investment However, notwithstanding anything containec The item has been objectives. in respect of clauses IX(3). XII (1) and XII (2) deleted. The modified Policies & on investment policies, computation of NAV item included under Stock valuation of assets, repurchase price and their 'Valuation of assets Lending frequency of disclosure would be in pertaining to this IX (5) accordance with the provisions of SEBI (MF scheme in Annexure I. Regulations/ Guidelines/ Directives issued by SEBI from time to time.

Associate The scheme may invest in anothe Deleted as one UT1 Transact! Scheme/Plan of the Trust or any other mutua scheme cannot invest in ons am fund without charging any fees, provided tha. another UT1 scheme. Bnrrntvin aggregate imerscheme investment made by al g.s'Xl(1) schemes of the Trust or in schemes under th management of any other asset managemen

T HF r.AZFTTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) IPART III—SbC. 4
AMENDMENTS TO EQUITY SCHEMES - REPORTING

MiiML'rpliK,

ANNEXURE III

MASTERSHARE PLUS

SR. NO.

INSERTIONS AS REQUIRED BY STANDARD OFFER DOCUMENT'

1.

X. (4) able showing Corporate Investment in the Trust's schemes and the 'rust's investments in these companies updated as per the latest iata available.

\ II (2). Valuation of assets pertaining to this scheme

a) Quoted investments including those under lock-in period, if any. •nit except government securities are valued at the closing market •;ites on the valuation date and in its absence, at the latest available quote within a period of sixty days prior to the valuation date. II" no quotes are available lor a period of sixty days prior to the valuation date, the same is treated as unquoted investment.

(b) Quoted government securities are valued at closing NSE market rates on the valuation date and in its absence the latest available quote within a period of seven days prior to the valuation date. If mi quotes are available for a period of seven days prior to the valuation date the same are treated as unquoted government securities.

(c) In case of quoted debentures and bonds, the market rate, being cum-interest. the same is adjusted for the interest element, if any.

(d) Right entitlements for shares are valued at market rates, discounted for dividend element, wherever applicable.

(el Unquoted preference shares/cumulative convertible preference shares arc taken at cost.

1

(1) Unquoted equity shares are valued on fair valuation basis as determined by the Board of Trustees from time to time.

(g) Unquoted debentures bonds and transferable notes are valued at \ield to maturity . linked to the yield on GOI Securities (yield curve) along with a mark up approved by the Board of Trustees.

!

(h) Unquoted warrants are valued at the market rate of the underlying equity shares discounted for dividend element, if any, and reduced by the exercise price payable. In cases where the excicise price payable is higher than the value so derived, the valueD..., in <=„ AI THF r.AZETTE OF INDIA, MARCH 23. 2002 iCHA-TTRA 2. 1424) 1223

AMENDMENTS TO EQUITY SCHEMES - REPORTING

MilMOfpIlK of warrants is taken as nil.

(i) Unquoted Government securities, if any. are valued at yield to maturity ba^ed on the prevailing interest rates.

(j) Convertible debentures and bonds where composite market quotations are not available, the convertible portion is valued at the market rate relevant to equity shares, discounted for dividend clement, if any. The non-convertible portion if any, of such debentures and bonds is valued as in (g) above. Where terms of conversion arc not specified in respect of the convertible portion, the same is taken at cost.

(k) Capital indexed bonds are valued on cost basis.

(1) Valuation policies for Monev Market instruments :-

(i) Money Market instruments and other assets arc taken at book value, (ii) The money invested in inter bank call market is taken at cost, (iii) The money invested in discount/interest earning instruments is valued at the yield at which the. instrument was last traded. For ihis purpose the latest available quote within a period of two working days, prior to the valuation date is considered. When there are no quotes available in the last two working days, the instrument is valued at cost plus the difference between the face value and the eosi. applied uniformly over the remaining maturity of the instrument, (iv) Other money market instruments, including unquoted debentures arc valued at cost plus the difference between the face value and cost, applied uniformly over the remaining maturity of ihe instrument.

However, notwithstanding anything contained in respect of clauses IX and XII, the investment policies, determination of NAV and valuation of assets, fixation of repurchase price and frequency of disclosure of NAV, repurchase price and portfolio would be in accordance with the provisions of SEBI (IMF) Re^ulations/Guidelines/Directives issued by SEBI from time to time.

Accounting Policies

1. Income recognition

(a) Dividend Income on listed equity shares is accrued on the ex- dividend date. Dividend income on unlisted equity shares and preference shares is accounted on receipt basis.
.,-,, T OT r.i7CTTP OF INDIA MARCH 21. 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
AMENDMENTS TO EQUITY SCHEMES - REPORTING

M:i".ii:rplu.

(!•>) Interest on investments and commitment charges is accounted

lor on accrual basis.

(c) Profit or loss on sale of investments is recognised on the trade dales on the basis of weighted average cost.

(d) Profit or loss and premium on redemption of debenture/bonds are recognised on the due date.

(e) Underwriting commission is recognised as revenue on receipt basis when there is no devolvement. In case of devolvement. the •lull underwriting commission is reduced from the cost of such

investments.

(0 Front-end fee on investments in shares and debentures is reduced from the cost of such investments.

(g) The difference between purchase price and the maturity value in respect of zero coupon bonds, deep discount bonds and other long term discounted instruments is treated as income over the remaining life of the instrument on YTM basis.

(h) < )lher income is accounted for on receipt basis.

2. Expenses

n. Expenses arc accounted for on accrual basis. h. Certain common expenses incurred through Unit Scheme 1964. are allocated to the other schemes as per the provisions of Sec 25 (4)ofUTl Act 1963.

c. Unit Scheme 1964 which owns the fixed assets, recovers lease rent, on an approved basis, from other schemes for their usage of the said assets.

y. Investments

a. Investments are stated at cost or written down cost.

b. In case of secondary market transactions investments are recognised on trade dates.

c. Subscription to primary market issues is accounted as investments, on allotment.

d. Uonus/right entitlements are recognised on ex-bonus/ex-right dates.
P.UT ui—ivr 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) __ 1225
AMENDMENTS TO EQUITY SCHEMES - REPORTING

MllSlLTplih . Investment viz., debenture and bonds, are transferred to current sscts on the redemption / due date.

". The cost of investments include brokerage and service tax but loos not include cost of stamps which is charged to revenue.

1. Provisions and Depreciation;

A) Provisions against the income considered doubtful: Vovision is made in respect of interest income remaining past due or iwo quarters or more. Provision is made in respect of dividend u the year end. where it remains outstanding for more than one vcar from the ex- dividend date.

H) Depreciation in the value of investments i) The aggregate value of investments as computed in accordance with clause XIII(2) above is compared to the aggregate cost of such investments and the resultant depreciation, if any, is charged lo General Reserve / Unit Premium Reserve. In case such aggregate value exceeds the aggregate crtfit or the aggregate value as at the end of the previous year, the appreciation is added to Unit Premium Reserve/ General Reserve to the extent depreciation was previously ail justed.

(ii) In cases where unquoted equity or preference shares were written off in the earlier years, the cost of such investment is written back to its cost, as and when a quote or fair value is available.

(iii). Assets where interest is remaining past due for two quarters or more are classified as non performing assets. Provision for such assets is made individually (as stated in the table below). Such provisions are not made for other performing assets of the same company.

Percentage of Provision

Period for which asset Remains non-performing

Unsecured

Secured

Alllt

A IM

Uptn twe yean

10%

I0H

100%

20H

fiNeuudlny two ynn Urn upto thrai yearsTHP. r.A7FTTF. OF INDIA. MARCH 23. 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

AMENDMENTS TO F.OUITY SCHEMES - jtEPORTING

NUisiL'rplu'H

30% 100%

l-lNceeding tliree years Rui tipto five years

Exceeding five years

100%

50%

(iv) Where principal repayment remains outstanding (i) for two quarters beyond the past due period in respect of the debt instruments with a balance maturity of not more than 3 years and (ii) lor one year beyond the past due period in respect of debt instruments with a balance maturity of more than 3 years, provisions are made for such outstanding instalments. The overall provision for such assets is limited to the percentage mentioned in Ihc above table (upto 50% for secured and 100% for unsecured assets) or the amount in default whichever is higher.

Any subsequent instalments in such cases where the original default continues, are provided after 30 days from the respective due dates.

(v) In case of funding of interest by way of capitalisation of outstanding interest dues, the same is provided irrespective of the period of default.

(vi) Provisions for non performing assets are charged to Unit Premium Reserve/General Reserve/ Revenue Account as the case may be.

(vii) Provisions made under paragraph 4(A) and 4(B) (iv) arc written back on receipt or on restructuring of the assets. Provisions under 4(B) (v) are written back on receipt basis.

5. Income Distribution :

(a) Provision for income distribution is made on unit capital at rates approved by the Board of Trustees from time to time.

6. Publication of Financial Results: The unaudited financial results as on 31st December will be published within 2 months and audited annual results as on 30th June will be published within six months of finalisation of accounts in one English daily and one Marathi daily.

XV, Tnx Trentment oflnvestments

4.
u ._ I I T _ Q^ A^ THP r.A7.F.TTF. OF INDIA. MARCH 23, 2002 (CHAITHA 2, 1924) 1227
AMENDMENTS TO EQUITY SCHEMES - REPORTING

Mnstcrjilu

1. Ucsidents/NRIs/OCBs

i) Taxation of income, if any. and capital appreciation, it'realised, under the scheme will be subject to prevalent tax laws.

ii) Currently income if any. received by all categories of investors under all schemes/plans of the Trust is totally free from tax under section 10(33) of the Income Tax Act. 1961. '

The scheme is required to pay an income distribution tax at the rate of 10% and surcharge of 10% thereon under Section 115R of Income Tax Act. 1961 on the amount of income, if any. distributed by il. However, being open ended equity oriented fund, the scheme will not be subject to the said tax under the said section upto 3P' March. 2002. provided more than 50% of the total proceeds of the scheme are invested in equity shares of domestic companies.

iii) Currently, any long term capital gains arising out of investment in the scheme by residents and NRls out of rupee originated or NRO funds will be subject to treatment indicated under sections 48 and 112 of the Income Tax Act, 1961. A< present the investor is required to pay tax (w 20% on long term capital gains after liicioring the benefit of the Cost Inflation Index. However, the ciipital gains accruing to investments made through NRE accounts :ire not taxable.

iv) Value of investment in units under the scheme is completely exempt from Wealth Tax.

v) The Gift Tax Act. 1958 has abolished the levy of Gift Tax in respect of gifts made on or after 1st October 1998. Thus, gift of units of the scheme tire fully exempt from levy of Gift Tax.

2) Eligibility for Cnpital Gnins Tux Exemption under Section 54 E A

Investment of entire or part of net consideration arising out of transfer of long term capital assets in Mastcrshare Plus Unit Scheme will be eligible for capital gains tax exemption under Section 54EA of the Income Tax Act, 1961 subject to repurchase of units only after three years from the
3) Eligibility for Cupitnl Gnins Tax Exemption under Section 54EB Investment of entire or part of cnpital gains arising from transfer of long term capital assets in the Mastcrshnre Plus Unit Scheme will be eligible for capital gains tax exemption under section 54 EB of

53—509 GI/2001m" THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

AM.F.ND.MEN.TS TOJEQUITY SCHEMES - REPORTING

MaMcrplic-

the income Tax Aci, i 961 subject to repurchase of units only after seven years form the date of acceptance of application.

4) For Eligible Trusts Units are approved securities under section H(2)(b) of the Income Tox Act 1961. Eligible Trusts investing in units will therefore. mialify for tax exemption in respect of income and corpus under sections 11 and 13 of the Income Taxy\ct. 1961.

Constitution & Management of Unit Trust Of India

Constitution of UTI I nh Trust of India was set up as a statutory body under Unit Trust o ' India Act. 1963. with a view to encouraging saving and investment and participation in the income, profits and gains a."'rruing to the Trust from the acquisition, holding, management ;iU(! disposal of securities. It started functioning with effect from i > I July. !964.

Management of UTI I h,¹ Management of the affairs and business of the Trust are vested in the Board of Trustees with a full time Chairman appointed by the Government of India. Iksides the Board, there is a statutory Executive Committee comprising the Chairman and two other Trustees nominated by the industrial Development Bank of India. This Committee is jnmpetcnt to deal with any matter within the competence of the Bo;ird. Hoard of Trustees *

., Shri P S Subramanyam Chairman. Unit Trust of India 7. Shri G P Muniappan Executive Director. RBI ,v Shri GP Gupta Chairman & Managing Director. IDBI -i, Shri N.S. Sekhsaria Managing Director,

Gujarat Ambuja Cements Ltd.

5 Shri Rajendra P Chitale Chartered Accountant 6. Dr. Vishvanath V Desai Economist 7. Shri G Krishnanuirthy Chairman. L.I.C. X, Shri G G Vaidya Chairman. S.B.I. "). Shri K C Chowdhary Chairman & Managing Director.

Central Bank Of India

* The other current directorships of the Trustees arc as follows:

Shri P S Subramanyam (i) Chairman & Director - The India Fund, (ii) Chairman & Director -India Growth Fund, (iii) Chairman & Director • India Access Ltd. (iv) Chairman & Director - The India Public Sector Fund Ltd. (v) Chairman of Governing Council - I IT!- Institute of Capital Markets, (vi) Chairman & Director - UTI ↩

P XRT IU-SF.C. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 ( C H A l T R A V l g^ _____ ^ 2 29

AMENDMENTS TO EQUITY SCHEMES - REPORTING

MlML-rpli, Investment Advisory Services Ltd. (vii) Chairman &. Director - UTI 1

Investor Services Ltd (viii) Chairman - UTl-Securities Exchange

Ltd.. (ix) Director- UTI Bank Ltd. (x) Chairman & Director -

Over-The-Counter Exchange of India (xi) Member - Life Insurance

Corporation of India, (xii) Director - Discount & Finance House of

India Ltd. (xiii) Director - Securities Trading Corpn. of India

Lld.(iv) Director - National Stock Exchange of India Ltd. (xv)

Trustee - Indian Institute of Software Engineering.

2. Sliri G P Gupta- (i) Chairman- Small Industries Development

Bank of India, (ii) Director- The India Fund (iii) Director- India

(irowth Fund, (iv) Director - Discount and Finance House of India

Lid. (v) Director- Export-Import Bank of India, (vi) Director-

Securities Trading Corpn. of India Ltd., (vii) Director-

Inlhistructure Development Finance Co. of India Ltd.. (viii)

Director- Indian Airlines Ltd. (ix) Director- IDBI Bank Ltd. (x)

Director- National Stock Exchange of India Ltd. (x) Member- Life

Insurance Corpn. of India, (xi) Member- General Insurance Corpn.

of India (xii) Director- South Asia Regional Fund, (xiii) Chairman

- South Asia Development Fund, (xiv) Council Member- Indian

Institute of Bankers, (xv) Member- Bankers Training College

(Kill), (xvi) Member- Association of Development Financing

Institutions in Asia and the Pacific (xvii) Member- Institute of

Hanking Personnel Selection (xviii) Member- The Institute of

Company Secretaries of India

X Shri N S Scklisaria - (i) Director - Gruh Finance Ltd. (ii)

Director- Radha Madhav Investments Ltd. (iii) Director - Home

Trust Housing Finance Co. Ltd. (iv) Director- Ambuja Cement

foundation (v) Director Ambuja Educational Institute

4. Shri Riijcndrn 1* Chitnlc - (i) Director - Small Industries

Development Bank of India, (ii) Director- National Securities

Clearing Corporation Ltd (iii) Director - .1 M Capital Management l.ldi,('v) Director - Zurich Asset Management Company (India) Lid."¹ (v) Director- India Index'Services and Products Ltd. (vi) Director- Association of Leasing and Financial Services

Companies, (vii) Member - Executive Committee (Governing

Board) of National Stock Exchange, (viii) Member - India

Advisory Board of Bank of America NT & SA (ix) Member -

Investment Committee. Life Insurance Corporation of India.

S.^Shri V V Desai - Advisor- ICICI Limited.

6. Shri G Krishnamurthy - (i) Chairman - LIC (International)

F.C. Bahrain (ii) Chairman - LIC Housing Finance Ltd. (iii) Director - General Insurance e >..\tion of India (iv) Director- I'oysha Industrial Co. (v) Chairman, Governing Board- National

Insurance Academy (vi) Director- National Housing Bank (vii)

Director- UTI Bank Ltd, (viii) Director - Discount &. Finance

House of India (ix) Director- Kcnindia Assurance Co. Ltd..Kenya

(x) Director- ICICI Ltd. (xi) Chairman- Governing Body of

Insurance Councili iv) THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

AMENnMrNTS TO FQU1TY SCHEMES -REPORTING

MnMi'rplu-.

7.Shri G Ci Vtiidyii- (i) Chairman- SBI Capital Markets Ltd. (ii)

Chairman- SBI Funds Management Ltd.. (Hi) Chairman - SBI Gilts

Lid., (iv) Chairman - SBI Securities Ltd.. (v) Chairman - SBI

Factors & Commercial Services Ltd., (vi) Chairman - SBI

European Bank Ltd.. (vii) Chairman - State Bank of Indore. (viii)

Chairman - State Bank of Saurashtra. (ix) Chairman - State Bank of

Paliala. (x) Chairman - State Bank of Bikaner & Jaipur . (xi)

Chairman - State Bank of Hyderabad, (xii) Chairman - State Bank

of Mysore, (xiii) Chairman - State Bank of Trayancorc. (xiv)

Chairman - State Dank of India (California), (xv) Chairman - State

Hank of India (Canada), (xvi) Vice President of the Governing

Council - Indian Institute of Bankers, (xvii) Director- National

Hunk for Agriculture and Rural Development . (xviii) Director - F.xpon- Import Bank of India, (xix) Director- General Insurance

I

CnriKirntion. (xx) Member of the Governing Board & Chairman of Finance Committee- National Institute of Bank Management, (xxi)

Member of the Governing Board, Chairman of the Finance Committee & Office Premises Committee & Committee of Administrators of IBPS Employees Pro. Fund. - Institute of Hanking Personnel Selection (xxii) Member- Institute Tor 1

Developing & Research in Banking Technology, (xxiii) Director- infrastructure Development Finance Corporation . (xxiv) Director- 1

Infrastructure Leasing & Financial Services Ltd. . (xxv) Dircctor- Kxport Credit Guarantee Corporation,

S. Shri K C Chomlhnry - (i) Chairman - Small Group on Bank Audit. Indian Banks* Association (ii) Chairman- Banking Operations. Indian Banks" Association, (iii) Chairman - Small Group on Credit Related Matters. Indian Banks' Association (iv) Chairman - IBA Working Group for Interaction with Trade Bodies/Associations, (v) President - Indian Banks' Association.

Local Chapter, (vi) Member - Managing Committee. Indian Banks" Association, (vii) Chairman - Centbank Home Finance Ltd.. (viii) Chairman - Centbank Financial
iM'.uiaRcmcnt of the Fund :

h.

Name of the fund manager alongwith his qualifications and

experience updated.

Custodians

7.

The SEBI registration number of SHCIL is IN/CUS/OI1

Tariff structure of SHCIL is as under:

Electronic Physical

!
,,AK1 ,,1-Shc. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1231_
AMF-NDMEMTS TO FQIHTV SCHEMES - REPORTING

M;i-.li:rpliiv

-

Dematerialisation

R.s.5 per certificate

Purchase

Rs. 100 per DIP

1

5.5. basis points on

The value Of the

Transaction

Siilc

Rs. lOOperDIS

5.5 basis points on

The value of the

Transaction

Custody

1.5 basis points on The asset value in The custody

8 basis points on the asset value in the Custody

-

Oil" market Purchases

5.5 basis points on the value of the Transaction

n

Off market Sales

5.5 basis points o the value of the Transaction

Uematerialisation

Rs. 15 per certificate Or 15 basis points of Conversion value Whichever is higher

Auditors

s.

M/s. Chaturvcdi & Company. Chartered Accountants. 60. Dcntik Street. Calcutta 700 069 and M/s Batliboi & Purohit. Chartered Accountants. National Insurance Building, 204, D N Road. Fort, Mumbai 400 001. The auditors of the scheme are appointed by the IDB1 and they are subject to change from year to year.

Table giving Investors' Grievance Redressal data updated

"). 10.

Table giving condensed financial information updated
™ THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC. 4
AM_EJ^\1£^Sjru^jJjTYJi£^^

Mmterggtn

ANNEXURE1

MASTERCAIN - PROVISIONS MODIFIED/INSERTED

Clause No.

Existing provisions

Amended provisions

Highlights

Open to resident individuals and institutions as well as to NRIs, OCBs and FIIs.

2nd item

Open To both resident and non resident adult individuals/ minors/ HUFs/ Trusts/Bodies Corporate (including banks and companies registered under me Companies Act, !<)56) / Overseas Corporate Bodies (OCBs)/ FIIs.

Item not included

Highlights

3rd item

Minimum investment is Rs.5000/- with no maximum limit. For subsequent investments under the same folio the minimum investment is Rs.1000/-.

i

Item not included

Highlights

Face value of a unit is Rs. 10/-.

4th item

Item not included

Highlights

Sale will be at NAV as at the close of the day on which the application is accepted.

5th item

Highlights Repurchase at NAV based price.

6th item

Repurchase will be at a discount not exceeding 3% of the daily NAV of the unit. Partial repurchase permitted subject to a minimum balance of Rs.5000/- per folio.

hem not included

Highlights

Facility to reinvest the income, if any, will be available at NAV.

7th item

Item not included

highlights

8th item

Switchover facility from the scheme to such other schemes which may be announced by the Trust from time to time or vice versa at NAV or NAV based price.

Item not included

Highlights

9th item

Currently Income Distribution, if any, by the scheme is totally tax free in the hands of investors under section 10(33) of Income Tax Act 1961. Further, being an open end equity oriented fund it will not be subject to Income DisKbution tax for a period up to 31 st March 2002 under section 115R of the Income Tax Act 1961.

Item not included

Highlights

10th item

Capital gains arising from capital appreciation, if any, on repurchase of units is subject to tax benefits under sections 48 & 112 of Income Tax Act, 1961.

Investment eligible for availing of capital gains tax exemption under sections 54EA and 54EB of the Income Tax Act, 1961, depending upon the source of fund, subject to repurchase of units only after lock-in-period of three / seven years respectively from the date of acceptance of the application.

„, „__ ., TLic^A7l.-TrwnpiMniA MARCH 2V 200?. (CHAITR/V 2. 1Q24) 1233 AMENDMENTS TO FQU1TY SCHEMES - HCrORTINC.

_ _^

^hiMrr'^tiih Item mil included

Highlights

Value of imestir.t'nt in units under the scheme is eoinpletel) i exempt from Wealth Tax

^ t tli item

1

i

Item not included

The Gift Ta.\ Act. 1958 has abolished the levy of Gift Tax in Highlights

I

!

12th item

respect of gifts made on or after 1"' October 1998. Thus, gift of units of the scheme arc full} exempt from levy of Gift lax.

f*isk Factors

1st item

Mutual Funds and securities investments are subject to market risks and the NAV of the units issued under the scheme may go up or down depending on the factors and forces affecting Hie capital markets.

Investment in units of the scheme are subject to markei risks and the NAV of the scheme may go up or down | depending on the influence of market forces on the scheme's portfolio.

No provisions exist

Risk Factors

•4 th item - Derivatives: Trading in derivative securities like options & futures is a highly specialised activity and entails greater risk than ordinary investment, Even though the scheme intends to use the activity of trading in derivatives only for portfolio hedging purposes, the overall market in these segments could be highly speculative due to the actions of the other participants in this market. The success of trading in derivatives depends upon the ability of the fund manager in predicting the future movement of the market and if the fund manager is incorrect in their prediction the performance of the fund could diminish compared to what it would have been if this investment strategy had not been used. 5th item - Investment in overseas market: The success of investment in overseas market depends upon the ability of the fund manager in understanding of those market conditions & analysing the information, which could be different from Indian markets. As this would involve operations in foreign markets there could be exchange rale fluctuations risk besides market risk. 6th item - Stock Lending: It is one of the means of earning additional income for the scheme with least risk. The risk could be in the form of non-availability of ready stock for sale during the period the stocks remain lent. The scheme would be exposed to risk through stock lending activity through the possibility of default by the borrower/intermediary in returning the lent securities. However, the risk would be adequately covered by taking in of suitable collateral from the borrower by the intermediary involved in the process. The Trust will have a lien on the collateral. The Trust will also have other suitable checks and controls at various places to minimise any risk involved in the securities lending process.

Definition

(3X0

(hj "Acceptance date" with reference to an application made by an applicant to the Trust for sale or repurchase of units by the Trust means (he day on which the branch office of the Trust, after being satisfied that such application is complete in all respects, accepts the same. The acceptance date in respect of salr and repurchase applications received at the franchise office/collection centre will be the date of receipt of the 'acceptance date' with reference to an application made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the Trust after beiiiQ satisfied thatp™ THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES . REPORTING

\ln\lfrniiln such application is in order, iceepti, the same:

application at the otlice ot the Registrar or the 5" working da> (T+5) from the date of its receipt thereof at the franchise office or collection centred), whichever is earlier. The Trust may reduce the number ol" working davs from ? to a lower number, as may be decided.

No pnn isions exist

Definition

3

(c)"Aliernate applicant'" in case of minor means the parent other than the parent who has made the application on behalf of the minor.

Definition

(3)(h)

(en) "Applicant" means a person who is eligible to participate in the scheme and makes an application under Clause 5 of the scheme and who is not a minor.

Applicant' means an applicant under the Scheme and shall include all those categories of persons more particularly described in clause 5 hereinafter mentioned.

Dcrinitinn

No provisions exist

3

(fa) "Firm", "partner" and "partnership" have the meanings assigned to them in the Indian Partnership Act, 1932 (9 of 1932). but the expression partner shall also include any person who being a minor is admitted to the benefits of the partnership.

Definition

No provisions exist

3

(fn)"Issue" means the total number of units offered and issued under the scheme for subscription under relevant application form

Definition

3

"\ Inil holder" means n person who hold units for (he lime being including the person holding units in the depository mode."

(ha) "Member" used as an expression under the scheme shall

mean and include the applicant who has been allotted units,

under the scheme on or after 26"1 April, 2000. "Member" also

means an "unitholder" including the persons holding units

under unit certificate in depository mode and all the

expressions can be read synonymously,

The existing item (ha) shall be renumbered as (hb)

(Ib) "Person" shall include an eligible trust as defined above.

No provisions exist

UrfTmition

3

Definition

No provisions exist

3

No provisions exists

Definition

(3)

Definition

(3) (d)

(ic) "RBI" means the Reserve Bank of India established under

the Reserve Bank of India Act. 1934.

(ld)"Registrars" means a person whose services may be

retained by the Trust to act as the Registrar under the scheme,

from time to time.

(la) "Society" means a society established under the Societies

Registration Act of 1860 or any other society established

under any State of Central law for the time being in force.

Existing item (la) renumbered as (Ib).

"hody corporate" inlcudes a

society registered under the

Societies Registration Act.

I860 or established under

any State or Central Law for

the time being in force, such

society being hereinafter

referred to as 'a society';

This expression shall include

banks and companies

registered under the

Companies Act, 1956.
PAKI III—Str. 4J THK GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1235
AMENDMENTS TO EQUITY SCHEMES - REPORTINGSUt\UT\)tlW i 1 No pio\ isions exists (naJ^'Unit Capital".means the aggregate of the face value of units sold under the scheme and outstanding for the lime being.

Definition

Existing item (na) renumbered as (nb)

(3)

Definition No provision exists

n'c) "Unit Trust" or "Trust" means the Unit Trust of India

established under Section 3 of the Act.

(-*)

pcfinition

(M"")

All other expressions not defined herein but defined in the Act/Regulations shall have the respective meanings assigned to them by the Act/ Regulations.

;ill oilier expressions not defined herein but defined in the Acl shall have the respective meanings assigned to them hy the Act.

Definition

No provision exists

P)(P)

Words importing singular shall include the plural and all reference to masculine gender shall include the feminine and vice versa.

0 ) (q> Applications No provisions exist for Units (S)(D Application for Units 5(4) The minimum number of units applied for shall be 200 units and applications for further units shall be in multiples of 100 units. otherwise requires, in appropriate places, the term "Member/s" shall include "Unit holder/s"and the term "Register of Unit holders" shall include "Register of Members" also. Following inserted : iii) a parent, step-parent or other lawful guardian on behalf of a resident or a NR1 minor. ix)a Financial Institution. x) any body established or controlled by or under a State or Central Act. xi) an Army / Navy / Air Force / Paramilitary Fund xii) a partnership firm. An application by a partnership firm shall be made by not more than three members of the firm and the first named person shall be recognised by the Trust for all practical purposes as the member . xiii) a Public Sector Undertaking (PSU) Application shall be made for a minimum of Rs.5.000/- There is no maximum limit and units will be allotted up to three decimal places. For subsequent investment under the same folio the minimum investment is Rs. 1,000/-. In the case of investment of Rs.50,000/- and above, by resident or NRI through NRO account the investor is. advised to furnish Income Tax P.A.N./G.I.R. number and i.T. Circle address if he/she is having so.

Application for Units (b) If the payment is made by cheque or draft, the If the payment is made by a cheque/draft, the acceptance of an application will be subject to such cheque/draft being realised.

54— 509 GI/20011216 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PARF III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES - RF.l'ORTINC

MifKterytiin

NRls should submit their applications preferably ai the NR1 Branch. Mumbai or at an\ of the Branches of the Trust along with NR(E)/NR(O) cheque or a rupee draft payable at the place where the application is submitted.

Investment by FIls should be through payment by debit to the Special Non-Resident Rupee Account maintained with a designated bank/authorised dealer, approved by RBI. acceptance dale win. subject ] in such cheque or draft being realised, be the date on which ihc cheque or draft, as the ease may be. is received h\ the Trust or by a designated branch of an authorised bank or authorised collection centre. 11" payment is made by draft the acceptance date will subject to such draft being realised be the date of issue of such draft provided the application is received by the Trust or a designated branch of an authorised bank or an authorised collection centre within such time as inaj be deemed reasonable by the Trust. If the amount tendered by way of payment lor the units applied for is noi sufficient to cover the amount payable for the units applied for and other charges payable by the applicant, he shall be issued the number of uniis in multiples of 100 nearest to the number applied for by him and the balance, if any. due to him shall be refunded to him at his cost in such manner as the Trust may deem fit.

Application

for Units

ci) For units sold on 26th April, 2000 nnd thereafter the Trust shall issue a statement of account, with nn assigned folio no. not later than 6 weeks from the date of acceptance of application.

5 (6) (c) &

(U)

H) Evcrjr member will receive an updated statement of

account under the folio each time any additional purchase

or partial repurchase or switchover or transfer of the

units pursuant to clause 25(a) & 25(c) or

rematerialisation of units held in depository mode is made

by the member under the folio.

(c) A unit certificate will be sent if required. The certificate if sent will be by registered post, with or without acknowledgment due to the address given by the applicant; and the Trust will not incur any liability for loss. damage.mis- delivery of the unit certificate so sent.

iii) The NRI investor may choose any one of the following modes of despatch of statement of account

(a) At the applicant's Indian/foreign address OR

(b) At the address of the NRI applicant's relative in India.

iv) In case of FIIs, the statement of account will be sent to their global custodians or at the address furnished in the (d) A unit certificate issued by the Trust to an eligible trust or institution or corporate body shall be made out in the name of the trust, institution or bodyPART I I I - S E C. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1237

AMENDMENTS TO EQUITY SCHEMES - REPORTING

Mmh'wmn

i corporate.

pplicaiion.

) If the member so desires, a unit certificate will be issued to lim within six weeks of the receipt of request to issue the crtificate in lieu of the statement of account.

:i) Both unit certificate / statement of account are. equally alid evidence of admission of the investor into the scheme.

ii) Provisions of clauses shall apply mutatis mutandis to inits covered by unit certificate and to the unit holders vlo provisions exists

The investments by NRIs / OCBs shall carry the right of repatriation of capital invested and income earned thereon and capital appreciation so long as the investor continues to be resident outside India. Investment in these cases can be made through one of the following modes:

Mode of payment for NRI investment with repatriation benefits

(a) By a draft in rupees issued in favour of the Trust by a bank/exchange house operating outside India drawn on their Indian correspondent banks.

5 (") (")

(b) By a cheque drawn on the investor's NRE account

maintained with a bank in India..

(c) By a cheque/draft issued from the proceeds of FCNR

deposits of the investor.

Note: Payment in Ncpalese and Bhutanese currencies are not accepted.

No provisions exists

Where funds held in NRO accounts are utilised for purchase of units, the funds so invested and capital appreciation (if any), will not qualify for repatriation out of India. Similarly, investments in units purchased in rupees while the investor was a resident of India and becomes non-resident subsequently will not qualify for repatriation of sale proceeds of units.

Mode of

payment Tor

NRI

investment

without

repatriation

benefits

5 (6) (f)

As per RBI circular A.D.(M.A. Series) No. 18 dated August 19, 1994 the entire income distribution earned thereon during the Financial year 1996-97 and onwards will qualify for full repatriation. In such cases the Trust will make payment in Rupees for credit to NRO A/C. Investors are advised to contact their banks/tax consultants if they desire remittance abroad of the income distribution on units.

No provision exists

A firm shall be registered as a member and the statement of account shall be made in the name of the firm.

Application by and registration of Bodies Corporate Societies....

7(4)

Recurring expenses: The following expenses will be charged The fol lowing expenses wil

Limitation
1238 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) LPART III—SEC. 4
AMENDMENTS TO EQUITY SrHEMES - REPORTING

MthFlT"lim

rin expensed

to the .scheme on a reeumiu: baMs. I: Slimmed annual rennnnii expenses are as under:

7A

Expenses As % of nvcmge daily NAV "he crurrcctt tcvthc-schcmc on 1 a recurring basis which shall nni exceed 3% oi' the average daily Net Asset Value during am accounting year. Estimated recurring expenses are as under:

Expenses '%

Administrative Expenses 0.95 Custodial Fees 0.20 Contribution to DRF 0.25 Staff Welfare Fund (). ] () Registrars Fees 0,50 Marketing & Sales Promotion 0.50

Total 2.50

AdministrativeExpensesl.OO ("ommissionpaynicnt 1.25 CustodiuIFees 0.25 DevpmentReserveFund 0.10 Sial"l\VellareFund 0.10 RegistraisFees .0.30

The above are estimates and are subject to change inier se as per actual expenses incurred.

Total 3.00 The total -annual recurring expenses of the scheme including administrative expenses, contribution to Development Reserve'Fund and Staff Welfare Fund shall be subject to the following limits:

(a) On the first Rs.100 crores of the average daily net assets -

2.50%

(b) On the next Rs.300 crores of the average daily net assets -

2.25%

(c) On the next Rs.300 crores of the average daily net assets

- 2.00%

(d) On the balance of the assets - 1.75%

Administrative expenses, contribution to Development Reserve Fund and contribution to Staff Welfare Fund will not exceed the limits specified under clause 2 of regulation 52 of SEBI (MFs) Regulations. 1996, namely:

(a) One and quarter of one percent of the daily average net assets outstanding in each accounting year for the scheme as long as the net assets do not exceed Rs.100 crores, and The above expenses are estimates and are subject to change inter sc as per actual expenses incurred. However, the total expenses would be within the limit of 3% of the daily average net asset value during any accounting year, in accordance with SEBI (Mutual Funds) Regulations. 1993. Further, administrative expenses, contribution to Development Reserve Fund and contribution to Staff Welfare Fund will not exceed 1.25% of the daily average NAV of the Scheme during the accounting year.

(b) One percent of the excess amount over Rs. 100 crores, where net assets so calculated exceed Rs. 100 crores.

While the Trust does not charge any investment management and advisory fees as provided in the SEBI (Mutual Funds) Regulations, 1996 it will ensure that the annual recurring expenses shall remain within the limits specified under regulation 52 of SEBI (Mutual Funds) Regulations, 1996.

; The fees expenses and i accounting policies will be subject to change, depending on the Regulations/ Guidelines issued by SEBI.

Sale of Units

8

In respect of all applications for sale / repurchase received and accepted at the branch offices of the Trust or received at Registrar's office [please see 3 (c)] by 2 p.m. on a particular day the applicable NAV will be that of the same day. All applications received and accepted after 2 p.m. will be governed by the NAV of the next working day.

Non-individual applications along with reauired documents The contract for sale of units by the Trust shall be deemed to have been concluded on the acceptance date. On such conclusion of the contract for sale, the Trgst or its agent, as the case may be. shall, as soonP.DT i n -w 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1239

AMENDMENTS'TO EQUITY SCHEMES-REPORTING

'/'.t\ttrtain

will be accepted only at the offices of the Trust.

1

The Trust shall send the statement of account not later than¹ 6 weeks from the date of acceptance of application.

1 heron tier as possible, send the applicant an acknowledgment therefor Within six weeks from the date of acceptance of the application, the Trust shall issue to the applicant ccrtilkates in marketable lot of 100 units up to a maximum of 20 certificates and lor investment beyond this one consolidated certifi- cate representing the balance units sold to him. This consolidated certificate will be split once free of cost on request from the unit holder.

However, on request in writing from the unit holder the Trust shall at its discretion and on com- pliance with requisite operational and procedural formalities consolidate the certificates so issued in marketable lots into denomination of 10.000 units each. The balance units shall be issued in lots of 100 units each. The unit certificates issued in denominations of 10,000 units shall be split once in multiples of 100 units, free of cost, on request from a unit holder. For the purposes of repurchase / transfer / transmission / buy back of the units comprised in the Jumbo Certificate the Trust 7 Unit holder shall comply with such procedural/operational formalities as may be required.

No unit certificate will be sent if units are held in depository mode.

Switchover

Notwithstanding anything contained in the provisions hereof, the Trust may at its

Switch

Over

Option

i. Members under the scheme will be permitted to switchover their investment from the scheme to such other schemes, orn/m THF. GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES - REPORTING

SA

Mmirmaiu vice versa which may be allowed by the Trust from time to lime. In such a case they may apply for the switchover by submitting their request in the prescribed Composite Services Form (CSF) / duly signed unit certificate, if any.

i. The switchover will be effected at NAV or NAV based

price as may be decided by the Trust.

discretion ai any lime during the currency of the Seheinc/on termination of the- Scheme permit the unit holders of this Scheme lo switch over to another Scheme/Plan launched or in operation at that time at such price(s). in such form and manner and subject to such icrnis and conditions as may be decided and announced by the Trust.

ii. Partial switchover from the scheme to such other schemes or vice versa which may be announced by the Trust from time to time should satisfy the condition of holding minimum investment limit under both the schemes. The Trust shall retain the unit certificate.if any. for cancellation and the member shall be issued fresh statement of account of both the schemes.

iv. Investment made in the scheme for the purpose of availing benefits under section 54 EA/54 of the Income Tax Act. 1961 shall noi be permitted to be switched over before the expiry of the lock-in-period of 3 and 7 years respectively.

The NAV shall be issued to the press lor publication on a daily basis.

The NAV (on historic basis) shall be issued to the press lor publication daily.

The sentence has been amended and included under item 9 of annexure 111 under the heading 'Valuation of Assets pertaining to this scheme .

Computation and disclosure of Net Asset Value (NAV) hist two sentences of 9

Nol withstanding anything contained in these provisions, the valuation of assets, computation of NAV, repurchase price and thefr frequency of disclosure would be in accordance with ihe provisions of SED1 (MF) Regulations/ Guidelines/ Directives issued by SEBI from time to time.

Trading of Units:

10

The following paragraph is inserted at the end of the clause The units of the scheme issued prior to the dntelfi*'¹ April, 2000 remaining outstanding are listed on major stock exchanges. Units being issued/sold on or after 26'h April, 2000 will not be listed in nny stock exchange.

(a) The units are listed on the Stock Exchanges at Mumbai. New Delhi. Calcutta. Madras. Bangalore. Ahmedabad. Hyderabad. Kanpur and Jaipur. The Trust will announce the net asset value daily and intimate the value to all the Stock Exchanges lor the purpose of being quoted.

(b) A unit holder desirous of liquidating his holdings may iradc the units through any of the said Stock Exchanges.

(;) The Trust will not either directlv or in any mannerPAHI JII—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1241

AMENDMENTS TO EQUITY SCHEMES - REPORTING

\la\h'remii

indicate the price or prices at which the units could be bought or sold through the market. However, the last prices at which units were bought or sold at the Stock Exchanges in a trading will be published in leading daily newspapers. The Trust, however, retains the right to delist the units from the stock exchanges if in the interesl of the unit holders or the Trust it is deemed necessary to do so.

(d) The buyer , of units through the market either by himself or through a recognised broker should submit the transfer deed and I he relative unit certificates m Ihe Registrars of the Trust for giving effect to the transfer if found in order.

(c) No application for transfer will be accepted by any offices of the Trust and the Trust vvill not deal with the unit holders for any purpose.

(f) The buying or selling of units through the market at whatever price shall be at the risk of a unit holder or a prospective unit holder. However, for the purpose of determining the stamp duty to any payable on transfer of units the average of the high and low prices that ruled on the date prior to the date of transfer shall be basis for the charge.

(g) In case of transfer of units by a holder of units in a depository mode to another person or vice- versa, the transfer will be effected in accordance with such rules/ regulations as may be in force governing,242 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 AMENDMENTS TO K Q Um SCHEMES - REPORTING

MnitiTtfttw

transfer ot • securities in a depository mode.

Notwithstanding

Buy buck ">l

units

Notwithstanding anything to the eontran in the provisions o\' he Scheme so long as an> part of the unit capital remains isted on any stock exchange :

HMA)

tinyihinLi to the contrary in the provisions of (he Scheme:

a) The Trust may buy back such units from the market at the ruling price whenever sucli units arc quoted ai 10% or more lelow its NAV.

1 a) The Trust mav bu\ back units under the Scheme from the market at the ruling price whenever such units are quoted ai 10% or more helo>v its NAV.

b) The Trust may buy back up to 25% of such unit capital ssued under the Scheme in an}¹ one financial Near as an overall limit. The units which are bought back will be cxtinmiished.

Explanation

(i) "'Market" means an> of the recognised Stock Exchanges on which the units under the Scheme are listed.

(b) The Trust may buy back up to 25% of the unit capital issued under the Scheme in any one financial year as an overall limit. The units which arc bought back will be redeemed.

'ii) "Ruling Price" means the market price of units on the recognised Stock Exchanges ruling at the lime units are bought back by the Trust.

F.NPlanalion

(i) "Market" means any of the recognised Slock Ex- changes on which the units under the Scheme are listed.

(ii) "Ruling Price" means the

market price of units on the

recognised Stock Exchanges

ruling at the time units arc

bought back by the Trust.

1. Repurchases will be open throughout the year except (;U The Unit holder shall be

during the book closure not exceeding 45 days in a year.

under no obligation to offer

Repurchase cJAJnits

his units for repurchase and

11

will be free to hold them as

long as he desires during the

currency of the Scheme.

2. The repurchase price of the unit of Mastergain, shall be arrived at by deducting from the unit NAV a sum not exceeding 3% of the NAV to meet brokerage, commission, taxes and other administrative charges, expenses as also impact costs in relation to realisation of the investments.

3. Switchover/Repurchase will be effected on receipt of the

CSF / unit certificate duly discharged.

Partial repurchase shall be permitted subject to the member

maintaining a minimum balance of Rs.5000 per folio to be

computed at the repurchase price applicable as on the date of

acceptance of repurchase application.

The contract for repurchase shall be deemed to have been (b) Repurchases will be effected on receipt of the unit certificate with the form on the reverse duly filled in for repurchase of all the units comprised in the certificate on the date of repurchnse. The Unit Trust shall also repurchase all the units indicated in the certificate on receipt of a request for repurchase from the unit holder(s) in the prescribed form signed byP.DT lii—scr 41 THE GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) 1243

.AMENDMENTS TO FQUITV SCHEMES - UF.I'OHTINC

\Iu\tervain

concluded on the acceptance date for repurchase.

]

:ill ihe unit holder! 5). The | unit certificate and form if a m. shall be retained b\ the I 'nil. Trust for cancellation.

1

;

1

4. In the event of partial repurchase, depending on the number of units retained by him. the member shall be issued a fresh statement of account. No interest shall be payable on the re- ourchase proceeds.

Ic) The contract tor repurchase shall be deemed to have been concluded on the acceptance date.

5. In the event of the death of the member/s and on surrender to the Trust by the legal representative of the statement of account, the request letter for repurchase of units outstanding to the deceased member, the Trust shall on compliance with the requirements laid down in connection with the recognition of claim, repurchase the units in accordance with such rules and guidelines as may be formulated by the Trust and pay the outstanding amount upto the date of settlement of the claim. The legal representative of the member may instead c receiving the repurchase value of all units to the credit of deceased shall be permitted to hold the units as a member and continue to remain registered as a member and shall be issued a statement of account in his/her name in respect of units so desired to be held subject to the conditions regarding minimum holding and eligibility of investment.

(d) Payment ibr units repurchased by the Unit Trust shall be made as early as possible after the acceptance date in such manner as the applicant may indicate in the application. No interest shall, on any account be payable on the amount due to the applicant, and the cost of remittance (including postage) or of realisation of cheque or draft sent by the Unit Trust shall be borne by the applicant.

e) A holder of units in the

depositors mode desiring to

have the units repurchased

shall follow such

rules/guidelines/ procedures

as inn) be formulated from

7. Payment for units repurchased by the Trust after the deductions, if any. shall be made within 10 working days (provided the application is in order) from the date of receipt of the repurchase request slip at the centre where the repurchase requests are processed.

time to time.

No interest shall, on any account, be payable on the arriou: due to the applicant and the cost of remittance (including postage) or of realisation of cheque or draft sent by the Trust shall be borne by the applicant.

8. In ense of non-resident investors, repurchase proceeds will be remitted depending upon the source of investment as given below:-

a) Where units have been purchased out of remittance in foreign exchange from abroad or from the proceeds of the member's FCNR deposits or from funds held in member's Non-Resident External (NRE) Account with a bank in India, the proceeds can be remitted to the member in foreign currency or credited to NRE or Non-Resident Ordinary (NRO) account or paid to his relative in Jndia. •

b) Where units have been purchased while the applicant was

resident in India or out of funds held in members NRO 55—509 UI/;nnJ4 THE GAZE1TE OF INDIA. MARCH 23, 2(JO2 (CHAITRA 2, 1924) |PART III—SEC. 4 AMrNDMTNTS TO EOflTY .sCHF.MFS - UEI'ORTINt.

i

t

i

Miish'runin Account, tht' repurchase proceeds will be sent either to the investors bankers m India for eredii to his \ RO account or to a relative of the investor in India.

[

i °. In case ol'FIls. repurchase proceeds will be credited to the Special Non-Resident Rupee Account or as per instructions issued by SEB1/RB1 from time to time.

1

The Trust shall have the right at its sole discretion'to accept and/or to reject an application for issue of units under the scheme. The Trust shall reject an application for issue of units in the following circumstances:

Rich! of j Trust U\ Accept or ttcjeel Appliciitnin

13

(i) the application is received with less than the minimum investment of Rs. 5000/- and Rs. 1000/- in respect of initial investment and subsequent investment per folio thereafter respectively.

(ii) the application has not been signed by the first applicant The 'Irusi shall have ihe rijihi ;i! its sole discretion lo itccepi oi reject applications lor issue ol unils under the Scheme. Am decision of iIK ! rust about the di^il-ili!\ or otherwise of u persons lo make an application under the Schfiin. shall be final.

(iii) the applicant is not eligible to invest in the scheme. Any decision of the Trust about the eligibility or otherwise of a person to make an application under the scheme shall be final.

iv) In case the application is found to he incomplete, the

siimc will be Uubk for rejection.

i

Any npplication without the first applicant's hunk

i |

i

particulars will be liable to be rejected.

1

Refund in such rejected cases will be made after compliance

of requisite operational and procedural formalities without

incurring any liability, whatsoever, lor interest or other sum.

Applicant

tn comply

with

a)Persons applying for units under the scheme on behalf of a minor person shall satisfy the Trust about their eligibility to make an application and comply with all requirements as laid down by the Trust such as submission of the Dirtli Certificate in case of minor.

£^piirenirn

ts under tin1

scheme

before

hcinj> issued

units

14

b) An adult being a parent, step-parent or other lawful guardian of a minor may hold units and deal with them in accordance with and to the extent provided, in sub-section (2A) of Section 21 of the Act. Such adult if so required shall furnish to the Trust, in such manner as may be specified, proof of the age of the minor and his capacity to hold and deal with units on behalf of the minor. The Trust shall be entitled to act on the statements made by such adult on the application form without any further proof.

; Persons applying for units j under ihc Scheme shall be 1 bound io snltsfy the Trust ahoiU llieir eligibility to make un application under liie Scheme and to comply with till the requirements of the Trust. A person who holds units under a false ileeinrmion shall be liable to j have ihe unit certificate 1 cancelled and his name shall be deleted from the register ol' unit holders. The Trust shall have the right in such an event tu repurchase the j units at pur. The amount shall noi carry any rate of interest irrespective of the period it takes the Trust to repurchase and remit the repurchase proceeds to the

i

c) Application? for units on behalf of bodies like Partnership Firms/Co-operative Societies/Bodies Corporate/Companies shall be accompanied by certified copy of Partnership Decd/Bye-L'^vs of the Society/Statute governing the Body Corporate/Memorandum and Articles of Association of the Company together with Resolution of the governing Body authoris:ng investment in the scheme. At the time of repurchase of the units, resolution of the governing bodyPAR, III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23. 2002 (CHAITRA 2, 1924) J245

AMENDMENTS TO EQUITY SCHEMES -REPORTING

Mnslrrvalii

applieaiu. 1 authorising repurchase and authorisation of the concerned [ ifficiaHs) of the Body to comply with the formalities and collect the repurchase cheque will have to be submitted.

1) Person who holds units under a false declaration shall be iable to have the unitholding cancelled and ihe name deleted from the register of members.

l'm\ ided in such an event, in rcspcci of holder of units in depository mode, the Trust shall follow such rules'uuidelines/ procedures as may he formulated from lime to lime.

e) In aforesaid cases, the Trust shall have the right to repurchase the units at par or NAV whichever is lower after deduction of 25%-as penalty or at such price as may be decided by the Trust, and recover the Income Distribution, if any. wrongly paid from out of the repurchase proceeds and return the balance. The amount shall not earn' any interest irrespective of the period it takes the Trust to effect the repurchase and to remit the repurchase proceeds to the applicant.

Sale ;IIKI

Repurchase

J Price

15(1)

The sale price of units will be at NAV as ai the close of th day on which the application is accepted. The contract for sale of units by the Trust shall be deemed to have been concluded on the acceptance date. The repurchase price of the unit of Mastergain. shall be arrived at by deducting from the unit NAV a sum not exceeding 3% of the NAV to meet brokerage, commission, taxes and other administrative charges, expenses as also impact costs in relation to realisation of the investments.

The price at which a unit will he sold by the Unit Trust (hereinafter referred to as "the sale price"), and the price at which a unit will be repurchased by the Unit Trust (hereinafter referred to as the "repurchase price") shall be declared on a daily basis. The sale price will be the NAV (historic). Repurchase price will be at a discount of 5% to the NAV(historic).

Refer to item 9 of annexurc 111.

The existing provisions shall

Vuluiition

be replaced by the

of Assets

provisions given under item

pertaining

y of annexure III.

to this

Scheme

17

The following is inserted at the end of the clause.

The above provisions shall apply mutatis mutandis to units covered by 'Statement of Account' and "Members"..

Trust not to be recognised regarding units

20

1

The person who is registered as the holder and in whose name u Unit Certificate has been issued shall be the only person to be recognised by the Trust as the unit holder and as having any right, title or interest in or to such Unit Certificate and the units which it represents, and the Trust may recognise such unit holder as absolute owner thereof and shall not be bound by any notice to the contiarv or to take notice1246 THE GAZETTE OF INDIA, MARCH 23. 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 ,\MrM>iMr\TS TO F.Ol [TV SCHEMES - KEI'OKTIV.

MtiMcrt'iiin

¹ nl ilk- execution ol an> trust oi. ,sa\e as herein express!} j pun ided or as by some court i of competent jurisdiction ordered, 10 recoynisc any HUM or equity or other interest affecting the lilfe to ;in\ 1 nil Certificate or the uniis thereby represented.

1

( F.\chnn"t' of

{ unit

rcrti fiend's

The following is inserted at the end of clause under ihe heading "Exchange of Statement of Account and Procedure when the Statement of Account is Mutilated. Defaced. Lost Etc."

.-.roci'diiir

1 when

In such cases a statement of account will be issued based on a simple request.

! -rtillciiU' i*.

1 nitilihiltd,

dilated,

21

1 1

i

i

piev IOUSIV have

1

i

and IKS! etc. (I) Subject to the provisions of this Scheme, even unit holdei shall be entitled lo CNchaniie any or nil ol his 1 n il Certificates for one or more 1 'nil Certificates of such denominations in multiples ol" 100 units as he nuiv require, representing the same aggregate number ol'units, While applying lor such exchange, the unit holder shall surrender to the Trust the Unit Certificate or ('eriificalcs to be exchanged and shall pay lo the Trust all moneys (if any. payable, thereunder) in respect, ol'the issue ol" the new Unit (eriillcate or Certificates. (2) (a)ln case any Unit Certificate is mutilated' or defaced, the Trust in its i discretion may issue to the ! person entitled a new Unit • Ceriiliciite representing the ! .same aggregate number of uniis as the mutilated or ilc laced Unit Certificate 1 represents. In case any Unit • Certificate should be lost, stolen or destroyed, the Trust may. in its discretion issue lo the person entitled a ; neu Unit Certificate in lieu thereof. No such new Unit Certificate shall be issued unless the applicant shall i i) furnished to the Trust • evidence satisfactory to it of ↩

PAR. Ill—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1247
AMCNPMF.NTSTO C Q l 'm SCHF.MES- RFI'ORTINC.

Minrrri'lllll the muiilaiion. detacement. loss, ilicl'i or destruction of the original Unit Certificate:

li) paid all expenses in connection with the investigation of the facts:

iii) (in case of mutilation or defacement) produced and surrendered to the Trust the mutilated or defaced Unit Certificate: and

iv) furnished to the Trust such indemnity as il may require.

(b) The Trust shall not incur an\ liability for issuing such Certificate in good faith under the provisions of this clause.

(?•>) Before issuing any Certificate under the provi- sions of this clause, the Trust may require the applicant for the Unit Certificate to pa}¹ a fee of Rupee one per Unit Certificate issued by il to- gether with a sum sufficient in the opinion of the Trust to cover stamp duty, if any. or other charges or taxes including postal registration charges that may be payable in connection with the issue and despatch of such Certificate.

Ucgister of No provision exists The following provisions shall apply as regards registration of Members

members :

2IA

(1) A register of the members shall be kept by the Trust at its offices and there shall be entered in the register -

(a) the folio number and the number of units standing to the

credit of the member;

(b) Name and address of the member; (c) Name(s) of second &. third holder; (d) Nature of holding; (e) Name of the nominee / beneficiary; (f) Date of admission to membership;
P4R THE GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—Src. 4
AMFiSnMENTS TO EQUITY SCHEME^ - KEI'OUTIMf;

1

i

Mmteruahi (2) The restrictions stipulated in Clause 21 applicable to unit eertiikate(s) and unit holder(s) shall apply mwaiis lmitumlis lo statement of account and units applied for ' standing to the credit of a member.

S. Nomination bv mcmhcr/.s

Nomination

by unit

holders

. Nomination facility is available only lor individuals applying on their own behall" i.e singh or jointly up to two.

24

ii. Only one person can be nominated,

iii. Minors including a NR1 minor can be nominated.

iv. Nomination of NRIs is subject to requirements of the RBI 1 ) I Mill holders holding units singly or two unit holders holding jointh may exercise the right lo make or cancel ;i nomination in favour of not more than 2 persons subject to the regulations made in this regard.

prescribed from time to time.

(2) Unit holders being either

v. Nomination can be changed at any time during the parent or lawful guardian on

currency of the investment.

behall" ol" a minor and an

eligible institution, societies, vi. Applicant being cither parent or lawful guardian on behalf shall have no right to make of a minor, an eligible trust, societies, bodies corporate.

any nomination.

HUF and partnership shall have no right to make

nomination.

vii.Other provisions will be to the extent provided in the

regulations.

i

viii.The facility of the r.tatutory nomination is available to a member under Section 39A of the Unit Trust of India Act. 1963. Accordingly, where a nomination in respect of any unit has been made in accordance with the UT1 General Regulations. 1964, the unit shall, on the death of the niember(s). vest in the nominee and the nominee shall be issued a statement of account in respect of the unit so vested subject to any right, title, claim or other interest of any other person to or in respect of the said units as provided in such regulations and subject to any charge or encumbrance over the said units. Transmission made by the Trust as aforesaid shall be a full discharge to the Trust from all liability in respect of the said units.

Transfer / Pledge / Assignment of units

(1) Transfer of units shall be

Transfer of

permissible.

Units

a) Transfer facility - units issued pursuant to this offer

document

25

Subject to following exception, units under statement of account are not transferable. But being an open ended scheme, sale /repurchase facility is available on an on going basis at NAV/NAV based price. However, if a person becomes a holder of units by operation of law or upon enforcement of a pledge or due to death insolvency or winding up of the affairs of sole holder or survivors of a joint holder then, subject to production of such evidence which in the opinion of the Trust is sufficient, the Trust will effect the transfer if the intended transferee h otherwise eligible to hold units in the scheme. However the units issued before 26"' (2) Every unit holder holding units shall be entitled to transfer units or rtny of the units held by him by an instrument in writing in a form approved by the i Chairman of the Trust. Provided, that no transfer shall be registered if the registration thereof would resuh in the transferor or the transferee being a holder ol ¹ a No. of units not being aP,U, IH-,Sr, 41 THF. GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1024) 1249

AMENrnvir.lNTSTO F.Ol'lTY SCHF.MES- REPORTING

Mmterviini

multiple ol 100.

April.2000 and remaining outstanding will be allowed to be transferred . Units which have been dematerialised with National Securities Depository Limited (NSDL) will have the transfer facility till the formalities regarding withdrawal from the depository are completed.

h) Pledge/assignment of units

1

(.") l:\cn instrument ol" transfer shall be signed by llie transferor and the transferee and the transferor shall be deemed to remain ihe holder of the units transferred until the name of the transferee is entered in the register in respect thereof. This clause shall be read in conjunction with "Trading of Units".

The unit holder may pledge/assign units in favour of banks/other financial institutions as a security for raising' loans. Units can he pledged by completing the requisite forms' formalities as required by the Trust. The Trust will record a pledge/charge/licn against units pledged. The pledger may not redeem units so pledged until the bank/ financial institutions to which the units are pledged provides the written authorisation to the Trust that the pledge/charge/lien may be removed. As long as the units are pledged, the pledgee bank/financial institutions will have complete authority to redeem such units.

c) Transfer of units issued prior to 26lh April, 2000

Transfer of units issued/sold prior to 26'" April, 2000 (4) In case of transfer of units by a holder of units in depositors mode to another person or vice-versa, the iransler will be effected in accordance with such rules/ regulations as may be in force governing transfer of securities in a depositor)' mode.

and remaining outstanding will he hereby subject to the following:

(i) Transfers to be effected only by and between transferors and transferees who are capable of holding units. The Trust shall not be bound to recognise any other transfer.

(ii)Duly stamped prescribed transfer deed with the relative unit certificate is lodged with any of the offices of the Registrar appointed for the purpose. Provided, that under special circumstances, the Trust may allow transfer of units without on instrument of transfer on such terms an conditions and on transferee providing such proof as may be specified by the Trust.

(iii) Certificate with duly stamped and executed transfer deed, lodged with or accepted by any of the offices of the Trust shall be forwarded to the nearest office of the Registrar.

(iv) Every instrument of transfer shall be signed ,by the transferor (all the transferors in case of joint holding) and the transferee (all the transferees in case of joint purchase) and the transferor shall be deemed to hold units until the name of the transferee is entered in the register of members by the Registrar.

(v) The Registrar may require such evidence as they may consider necessary in support of the title of the transferor or his right to transfer units.

(vi) The Registrar may. subject to compliance with such requirements as they deem necessary nnd in their discretion, dispense with the production of the original unit certificate,1250 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHA1TRA 2, 1924) [PART III—SEC. 4 AMENDMENTS TO F.Ot m SCHEMES- UEPORTINC

WtfyiiTVulii

should ii be lost, stolen or desirmed

i

¹

(vii) l;pon registration of transfer of units all instrumeni.N of, transfer and the cancelled unit certificate ma> be retained by lie Registrar.

1

viiDThe Registrar recognising and registering a transfer will

ssue statement of account to the transferee.

f a transferee becomes a holder of units in an official capacity, by operation of law or a scheduled bank upon enforcement of a pledge, then the Trust shall, subject to the iroduciion of such evidence which in its opinion is sufficient, iroceed to effect the transfer if the intended transferee is otherwise eligible to hold units,

(ix) Under special circumstances, holding of units by a company or other body corporate with another company or body corporate or an individual/individuals, none of whom is a minor, will be considered by the Trust.

(x) Subject to the provisions contained hcreinabove. the Trust shall register the transfer and return the unit certificate/issue a new unit certificate/statement of account to the transferee within 30 days from the date of lodgement of the unit certificate together with the relevant instrument of transfer. In case of joint transferees, the unit certificate/statement of account will be sent to and all payments in respect of the holding will be made only in the name of the first member.

Investment limits

27

(1) Investments by the Trust from the funds of the Scheme in the securities of any company shall not exceed 15% of the securities issued and outstanding of such companies. Provided that the aggregate of such investments in the capital initially issued by new industrial undertakings shall not at any time exceed 5% of the total amount of the said funds. (2) The limits prescribed under sub-clause (1) shall hot apply to investments of the Trust in bonds and debentures and deposits of a company whether secured or not.

(3) No term loans will be advanced by this scheme.

(4) The Trust shall buy and sell securities on the basis of

deliveries and shall in all cases of purchases, take delivery of

relative securities and in all cases of sale, deliver the

securities and shall in no case put itself in a position whereby

it has to make short sale or carry forward transaction or

engage in badla finance.

exceed 15% of the securities • issued and outstanding of i such companies. Provided thai I he aggregate of such investments in the capital initially issued by new industrial undertakings shall not at any lime exceed 5% of the total amount of the said funds. (2) The limits prescribed under sub-clause (1) shall not apply to investments of the Trust in bonds and debentures and deposits of a company whether secured or not. transferred in its name. The scheme may invest in derivative investments as and when permitted by SEB] (6) Subject to requisite authorisations, the Trust, in appropriate circumstances, may use techniques and instruments, such as futures and options and other der subject to applicable regulations and counter-par and available for investment ↩

(5) The Trust shall get the securities purchased by itP..T TTT-SFr 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1251

AMENDMENTS TO EQUITY SCHEMES - UEI'ORTINC

MiMrrjuin iy the scheme.

assessment, as prescribed by SEB1 trom time to time, for IIK- iiirposes of achieving the investment policy of the scheme or hedging or minimising the risk.

(7)(a)The scheme will participate in the stock lending programme, in accordance with the terms of securitiesjending scheme announced b\ SEB1. The activity shall be carried out through approved intermediary.

(b) The maximum exposure of the scheme to a single intermediary in the stock lending programme at any point of time would be 10% of the market value of the equity portfolio of the scheme or such limit as may be specified by SEB1.

(c) If the Trust is permitted to borrow stocks the scheme may in appropriate circumstances borrow stocks in accordance with SEB1 guidelines in that regard.

(8) The scheme may invest in securities issued by overseas/foreign companies and listed abroad or securities issued by Indian corporates to foreign/overseas investors and listed on foreign stock exchange directly by subscribing to such issues or purchasing, them on foreign stock exchanges in accordance with the SEB1 / RBI guidelines in that regard from time to time.

Any subscription eceived under the scheme mm 01.01.1997 shall be invested in conformity with (he SEfJI Regulations and regulatory framework for I init Trusi of India viz. (1) All debt instruments in which investments are made by the scheme should have been rated as investment grad by CR1SIL/1CRA/CARE or any other credit rating agencies which may be recognised from lime to time: Provided lhat if Ihe debt instrument is nol rated, the specific approval of the Board of Trustees of the Trust shall be taken for investment. (2) No term loans will be advanced by this scheme. (9) The scheme shall not make any investment in;

a) any unlisted security of an associate or group company of the Trust; or

b) any security issued by way of private placement by an associate or group company of the Trust; or

c) the listed securities of group companies of the Trust which is in excess of 25% of the net assets.

(10) The services of UT1 Securities Exchange Limited (UTI SEL) a stock-broking firm and wholly owned by UTI may be utilised for securities transactions of the scheme as per the policies and subject to the limits laid down by the Board of Trustees of the Trust. UTI SEL was set up in 1994. with registered office at Mumbai.

(11) The scheme shall invest not more than 10% of its NAV in the equity shares or equity related instruments of any company.

0) Investments by way of privately pluced debentures, securilised debts and other unlisted debt instruments shall not exceed 10% of the total assets of the scheme. (4) The scheme shall not invest more than 5% of its corpus in any one company's shares. (5) Nol more than 15% of the funds of all the schemes of the Trust including this scheme shall be invested in shares, debentures or other securities of a single company. (6) Not more than 15% of the funds of all the schemes of ihe Trust including this scheme shall be invested in shares and debentures of any one industry:

(12) The scheme shall not invest more than 15% of its NAV in debt instruments issued by a single issuer which are rated not below investment grade by a credit rating agency authorised to carry out such activity under SEB1. Such investment limit may be extended to 20% of the NAV of scheme with the prior approval of the Board of Trustees. Provided that such limit shall not be applicable for investments in government securities and money market instruments.

Provided that provision shall not apply to a scheme which has been floated for investments in one or more

(13) The scheme shall not invest more than 10% of its NAV 56—509 GI/2001. ,„ THE GAZETTE OF INDIA, MARCH 23, 2002 (CHATTRA 2, 1924) [PACT H I ^ S E C^

AMENDMENTS TO EQUITY SCHEMES - REPORTJMC

Mimrreatn

n unrated debt instruments issued by a single issuer and the . otal investment in such instruments shall not exceed 20% of j the NAV of the scheme. All such investments shall be made j with the prior approval of the Board of Trustees.

specified industries and declaration to that effect has been made in the offer letter. (7) Transfer of investments from this scheme to another scheme/plan of the Trust shall be done only if- (a) such transfers are done at the prevailing market price lor quoted instruments on spot basis, (b) the securities so transferred shall be in conformity with the investment object of the scheme/plan to which such transfer has been made. {c) Transfer of unlisted or unquoted investments Item the scheme to another scheme/plan shall be as per the policies laid down by the Board of Trustees ©f the Trust. (X) The scheme shall not invest in or lend to aflttlHer scheme/plan -of the Trust, unless otherwise provided by SI-B1 undtr MF RcgutatiiHm/Ould"UnM^h6 Cth'VM. (lH The scheme shall net borrmv funds t© flfmflce its in vestments, unless otherwise permitted by SEBI under MF Rigulatlons /Guidelines/Directives. .

(a) Although growth is the objective of the scheme, the scheme may make income distribution from time to time.

Income Distribution 28

(b) Such of the members whose names appear in the register of members as at the close of registers prior to the declaration of income distribution by the scheme shall be entitled to receive the income so distributed under the scheme.

The Trust i"dy or may not declare income distribution under the Scheme depending upon the income received under the Scheme and the expenses incurred J thereunder. The income ; distributable, if any, shall be paid as soon as. may be possible after the closing of the annual accounts as on the 30th of June each year.

In case of declaration oi

(c)The income distributed by the scheme shall be paid through ECS, wherever such facility is available or by a cheque or warrant encashable at the branches of such bank/s as the Trust may specify under pre-payment arrangementsPART I I I - S E C. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924)__ 1253

AMENDMENTS TO EQUITY SCHEMES - REPORTING

\lii\tertnitn

with the bank/s.

dividend. the Income Distribution Warrants shall be despatched within 42 days from the date of dcekinilion of the dividend.

(d ) In ease of declaration of income distribution, the Income Distribution Warrants shall be despatched within 42 days from the date of declaration of the income distribution.

(c) Reinvestment of income distributed:

The member may opt for reinvestment of income, if any. declared by the scheme in further units. In the event of an exercise of such an option the whole of the income on his unitholding. after deduction of lax. if any. instead of being paid to the member in the manner provided in Clause VIII (c) hereinabove shall be reinvested in further units of the scheme at NAV and credited to his folio. A fresh statement of accoun will be issued pursuant to such crediting.

f) Bunk particulars of investor^ &. Electronic Clear ins Scrvjcc:

i) In order to avoid fraudulent encashment of Income Distribution Warrants/Repurchase cheques/ Maturity cheques. SEBI has made it mandatory for investors, in their own interest to give bank particulars at the appropriate place in the application form. Applications without bank particulars will be rejected. Accordingly, applicants residing outside the eleven cities given at item (ii) below arc requested to give the full particulars of their bank account (i.e. nature of account, account number and name of bank) at the appropriate space in the application form as well as on the acknowledgemer' receipt portion for record. Income Distribution Warrants/repurchase cheques will then be made out in the name of the member with the bank particulars for crediting the member's account so specified and sent to them.

ii) Currently ECS facility is being made available to investors from Mumbai/Calcutta/ Chennai/New Delhi/ Ahmedabad/ Baroda/ Pune/ Bhubaneshwar/ Bangalore/ Hyderabad/ Jaipur (number of centres may be added/deleted prospectively) for direct credit to their bank accounts at the respective centres and where the amount of single instrument does not exceed Rs.5,00.000/-. The investor will be given a statement giving details of credit to his bank account.

iii) The bank branch of the investor will credit his account and indicate the credit enjry with "ECS" in the passbook/statement of bank account. The applicant is requested to fill up the particulars of name and address of his bank, nature and number of account, 9 digit Bank and branch1254 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PACT III—SEC. 4

AME\n,\irNTS TO EQUITY SCHEMES - REPORTING

Masfi'rvain

MICR code no. eic. in the application form.

v) In case the number of investors from aforesaid cities are lot sufficient enough or lor any other reasons, the Trust may pa\ the income by issue of income warrants earning bank account details instead of paying income through "ECS".

!•) Income Distribution to NRl/OCBs investors

Income distribution to NRI/OCBs investors shall be made as per the Exchange Control Regulations. The present position regarding payment of income is as follows:

i) The warrant can be issued in the name of the member and sent to a relative who- is resident in India for crediting the NRE/NRO account of the member, as the case may be.

OR

ii)The warrant can be issued in the name of a relative who is resident in India and sent to him for being credited to his account.

i

h) ECS facility is also available to NR1 investors who have their own bank accounts in Mumbai. For those NRI investors who wish to credit the income distribution to their resident relative's account. ECS facility could be extended to them at places as indicated in the sub clause above.

(i) In case of FIls, income distributed will be credited to the Special Non-Resident Rupee Account or as per instructions issued by SEBI/RBI from time to time.

Amended and included under item 10 of Accounting Policies in annexure III.

Publication

of Accounts

29

The Trust shall as soon as may he after the 30th June oi each year cause to be | published in such manner as I the Hoard may decide. • accounts in the manner specified by the Board showing the working of the Scheme during the period ending as of that date. The ! Trust shall, on a request in writing received from a unit holder, furnish him a copy of" the accounts so published.

The fees, expenses anc accounting policies will be subject to change, depending on the Regulations/D.-T m _ 9 .n AI THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1255

AMENDMENTS TO EQUITY SCHEMES - REPORTING

'•/iiHi'rl'H/ll

(iiiiclclines issued by SEUI.

¹

l)e\clnpmenl Reserve Fund (I)RF) contribution

i) A sum equal io 0.2?"o p.a. of the daily average Net Asset Value shall be set aside as contribution towards the DRF of he Trust . DRF contribution will be part of the recurring expenses.

0.10% of the weekly average Net Asset Value (NAV) shall be set aside as contribution to the DRF of' the Trust every year.

29A.

(ii) The Trust instituted this fund in the year 1983-84 as a common fund to enable the Trust to meet the expenditure in respect of research & developmental work in connection with the introduction of new schemes, innovation of new systems and procedures at the conceptual stage and also various other iroductional &. developmental work not related to or linked with any particular scheme itself. The Fund is also utilised for Economic and Capital Market Research. Management & Professional Training. Surveys and Market Research for the Trust. Marketing and Corporate image building efforts that arc not connected to any specific scheme. Human Resource Development efforts with long term effects and which may relate to the Trust's future activities and for meeting the shortfall, if any. in the assured rate of return of any of the schemes of the Trust as well as the issue expenses for no-load schemes.

Staff Welfare Fund Contribution (2"J)(h)

A sum equal to 0.10% p.a. of daily average Net Asset Value shall be set aside as contribution to the Staff Welfare Fund. The Trust has instituted the Staff Welfare Fund for the welfare of its employees which shall include relief in distress, medical relief, health relief or for similar other purposes. 0,10% of weekly average Net Asset Value (NAV) shall be set aside as contribution to the Staff Welfare Trust of the Trust of the every year.

Amended and included under item 5 titled 'Fundamental Attributes" in annexure III.

Additions and iimemlmentN to the .scheme

The Board may from time to lime add to or otherwise amend this Scheme and any amendment/addition thereof will be notified in the Official Gazette.

30

Amendments to the provisions of the scheme shall be effected with prior approval of the Executive Committee and of SEBI.

34
. , ,, X HE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
AMENDMENTS TO EQUITY SCHEMES - REPORTING

Mimerualn

Investors Richts •& Services

Rights of linithnklcrs

1. 1 iniiholders under llie scheme have a proportionate right in the beneficial ownership of the assets oi' and In the dividend, if any. declared by the scheme. 2. The unitholders have a right lo ask llie Trustees about an\ information which may have an adverse bearing on their investments and the Trustees shall be bound to disclose such information to the unitholders. 3. The unitholders are entitled to have the dividend warrants sent to them within 42 days of the date of declaration of the dividend. 4. The unitholders have the right to inspect all documents listed under the heading "Documents available for inspection."

i

1. Members under the scheme have a proportionate right in the beneficial ownership of the assets of the scheme and to the income declared by the scheme. 2. The members have a right to ask the Trustees about any nformation which ma> have an adverse bearing on their nvestments and the Trustees shall be bound to disclose such nformation to the member s. T.Thc members have the right to have statement of account ssued to them not later than 6 weeks from the date of acceptance. 4.The members have the right to have the repurchase proceeds despatched to them within 10 working days (provided the application is in order) from the date of receipt of the application at the office where the repurchase 'requests are processed. In the case of income distribution the members have the right to have income distribution warrants despatched within 42 days from the date of declaration of the income distribution. 5. An abridged annual report in respect of the Capital Growth Unit Scheme shall be mailed to all member s not later than six months from the date of closure of the relevant accounting year and the full annual report shall be available for inspection at the Central Investors' Relation Cell of the Trust and a copy shall be made available to the member s on request on payment of nominal fee. if any. 6. Any change in the fundamental attributes of the scheme will be carried out if the investors are allowed to exit at NAV besides being intimated by individual communication 7. Under specified circumstances the approval of member s will be sought by a Postal Ballot. ^ . 8. The member s have the right lo inspect the following documents at the Central Investors Relations Cell. Unit Trust of India. SNDT Women's University Basement. Door No.l, Sir Vithaldas Thackersey Marg. Mumbai 400020.

• TheUTIAct • The General Regulations • The agreements with the custodians, registrars and paying

bankers

•> Copv of Offer Document of Capital Growth Unit Scheme Refer to item 1 of annexure III.

Inserted as per item 1 oi annexure III.

Disclaimer Clause

To be submitted to SEBI and then inserted as per standard format

Due Diligence Certificate

Refer to item 4 of annexure III.

New provisions inserted as per item 4 of annexure III.

37.Tcrminati on of the Scheme„ . . ,„ o_.. JT -rue nA7CTTR OP TNniA MARCH 23. 2002 fCHAlTRA 2, 1924) 1257

AMENDMENTS TO EQUITY SCHEMES-REPORTING

Mn\ftrruain

Refer to item 7 of annexure III.

New provisions inserted as

3S.lntersclic

nu- Transfers

per item 7 of annexure III.

39. Assncintc New provisions inserted as Transactions per hem 8 of annexure III. Borrowings Refer fo item 8 o f annexure III.

40. Tux New provisions inserted as per item 11 of annexure 111. Treatment of Investments Refer to item 11 of annexure III.

-U.Constitiiti nn& l>1iinii{!cntcnt odJTl Information inserted as per item 12 of annexure 111. Refer to item 12 of annexure 111.

Custodians & Auditors Existing provisions updated as per items 14 & 15 of iinncxurc III. Refer to items 14 & 15 of annexure III.

42. Penalties, pending litigations, mnterinl findings or inspections/ invcstlcntinns New provisions inserted as per item 17 of annexure 111. Refer to item 17 of annexure 111.

Condensed Financial Inrormntion Latest data Inserted.

1258 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
AMENDMENTS TO EQUITY SCHEMES - REPORTING

MashTtftnn

ANNEXUttE II

MASTERGAIN - PROVISIONS DELETED

C Luise No.

Existing provisions

Highlights

Liquidity hy way of listing on major stock exchanges.

fourth item

Applications lor units 5 (i) second paragraph

Applications lor units 5 (\ Hi)

Applications For units 5 (ft) (a) • lusl sentence

Lnsl paragraph of 15

Form of I'nit Certificate

ts

Manner of Preparation of Unit Certificate Remarks

Deleted as units will not be listed.

Deleted as investment by

anyone or survivor permitted.

Notwithstanding anything contained in any clause, in the event of transfer of units under the Scheme either through the Stock Exchange/s where the Scheme is listed or otherwise, the facility to hold units on Either or Survivor basis shall not be available to the Transferee(s) under the Scheme and any request for such a facility by the said Transferees shall not be entertained by the Trust under •any circumstances

A company or other body corporate alongwith another company or body corporate or an individual or individuals, none of whom is a minor.

Deleted as such holding permitted only on transfer

Provided, however, that the applicant who wishes to apply lor units from a place other than where the Trust has its office, he may do so hy sending to the nearest office of the Trust, the application with the Bank draft for number of units applied for deducting therefrom charges payable for the bank draft.

Deleted as draft charges will be borne by investor.

The calculation of sale and repurchase prices and the spread between them shall be as per the recommendations of the Expert Committee set up by SEBI in this regard.

Deleted as it is redundant

Deleted as statement of account will be issued.

Unit Certificates issued in marketable lots of 100 units shall be as per Form A annexed herewith & Certificates issued in denominations of 10,000 units shall be as per Form B annexed herewith. Each Unit Certificate shall bear a distinctive number(s), the number of units represented by the certificate and the name of the unit holder.

Deleted as statement of account will be issued.

The Unit Certificates may be engraved or lithographed or printed as the Board of Trustees may. from time to time, determine and shall be signed on behalf of the Trust by two persons duly authorised by the Trust. Every such signature may either be autographic or may be effected by a mechanical method. No Unit Certificate shall be valid unless and until it is so signed. Unit Certificates so signed shall 6e valid and binding notwithstanding that, before thePART III—SEC. 41 THE GAZETTE pF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1259 AMENDMENTS TO EQUITY' SCHEMES - HEPOUTINC:

V>. \h ryillt}

issue thereol. an\ person whose signature appears ihcjvin may have ceased to be a person authorised to sign Unii Certificates on -behalf of the Trust. Provided further that should the Unit Certificate so prepared contain the signature of an authorised person who however is dead ai the lime of issue of the Certificate, the Trust may. b\ a method considered by it as most suitable, cancel the signature of such a person appearing on the Certificate and have the signature of any other authorised person affixed to it. The Unit Certificate sorissued shall also be valid.

Renefits to the nnithoUlcrs

All benefits accruing under the scheme in respect of capital and reserves and surpluses, if any. at the time of the closure of the scheme shall be available to the' unitholders who hold the units for the full term of the scheme till its closure.

Deleted as it is an open ended scheme.

INlWLT t" construe

provisions

Deleted as SEBI Regulatio ns does not permit it.

Should any doubt arise as to the interpretation of any of the provisions. Chairman or in his absence the Executive Trustee shall have powers to construe the provisions of the Scheme, in so far such construction is noi in any manner prejudicial or contrary to the basic structure of the Scheme and such decisions shall be conclusive.

UelnMition/Viirl

ntion/Modiflcnti

op of provisions

The Chairman or in his absence the Executive Trustee of the Trust may in order to mitigate hardship or for smooth and easy operation of the Scheme, relax, vary pr modify any of the provisions of the Scheme in cane orony unit holder or class of unit holders upon such may be deemed expedient,

Deleted as SEBI Regulatio ns does not permit it.

Explnrmtinrt:

The power to relax, vary or modify the scheme provisions may also be exercised for the p u r p o s ed enabling the unit holder to hold and trade the units in depository mode.

Documents

AviUHnblc For

Inspection

The following documents will be available for inspection at the Central Investors Relations Cell, Unit Trust of India, SNDT Womcns University Basement, Door No,U Sir Vithaldas Thackersey Marg, Mumbai 400 020.

• The UT1 Act

Deleted and included under Rights of unit holders

• The General Regulations

• The Agreements with the Custodians and Reiilstrors,

• Copy of provisions of Mastergain 1992.

Deleted &s Certiftcat e will not be issued.' Form A & Form B giving the form of Unit Certificate deleted

5 7 — 5 04 ( j | / : u i il1260 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) {PART III—SEC.4

AMENDMENTS TO EQUITY SCHEMES- REPORTING

MmttTgain

ANNEXURE1I1

MASTERGAIN

s INSERTIONS AS REQUIRED BY STANDARD OFFER DOCUMENT' Disclaimer clause:

The scheme particulars have been prepared in accordance with Securities • and Exchange Beard of India (Mutual Funds) Regulations, 19%, astiniettded til! date, and filed with SEB1, and the units offered for public subscription have not been approved or disapproved by the SEBS, nor has the SEBJ certified on the accuracy or adequacy of the Offer Document. Due Diligence Certificate:

1 nscrlcd as per the standard offer document Contents:

4.

Table ' Contents" inserted as per the standard offer.doeument Termination of the scheme:

(i) The duration of the scheme is indefinite. The Trust may however, lerminate and initiate' steps to wind it up under the following circumstances:

in) on the happening of any event which in the opinion of the Trust rein*ires the scheme to be wound up. or

fb) if 75% of the member s pass a resolution that the scheme be wound up; or

{eHf the S1BI so directs in the irrtereit of the member § of the scheme /lij Where the scheme is wound up in pursuance of sub clause(i) above. the Trust shall give notice of the" "ircum"anees leading to the winding up of the scheme to SEBI and in two daily newspapers having Ofrculation oil over India and also in a vernacular newspaper circulating (!•• Marnbai at least a week before the termination is effected,

(hi) On aad from fh"'dote-of advertisement of the termination, the Trust "Mli

(n, cease to carry on any business activities in respect of the scheme. (M tfertse to create and cause! units in the scheme. ft I wcast to issue and redeem units in the sclwme.

fiv.j The Beard of Trustees thai! call a meeting of the members to ^insider and pass necessary resolution by simple mttjority of thePART III—SIT. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1261

AMENDMENTS TO EQUITY SCHEMES - REPORTING

W " W I T I ; H )" members present and voting at the meeting tor authorising the Trustees or ;m\ other person lo take steps for winding up of the scheme.

(v) (a) The Board of Trustees or the person authorised under sub clause liv) shall dispose of the assets of the scheme in the besl interest of the member s of the scheme.

(b) The proceeds of sale made in pursuance of sub clause (v) (a) above, shall, in the first instance be utilised towards discharge of such liabilities as are properly due under the scheme and after making appropriate provision for meeting the expenses connected with such winding up. the balance shall be paid to the member s in proportion to their respective interest in the assets of the scheme as on the date when the decision for winding up was taken.

<\i) On completion of the winding up. the Trust shall forward to ihe SliBl and the unitholders a report on the winding up containing particulars such as circumstances leading to the winding up. the steps taken for disposal of assets of the scheme before winding up. expenses of the scheme for winding up. net assets available for distribution to the member and a certificate from the auditors of the scheme.

1 \ ii) Notwithstanding anything contained hereinabove. the application

nf the provisions of SEB1 (Mutual Funds) Regulations. 19% in respect

of disclosures of half yearly reports and annual report shall continue

until winding up is completed or the scheme ceases .to exist.

(viii) After the receipt of the report referred to in item (vii) above, if ihe SEB1 is satisfied that all measures for winding up of the scheme have been completed, the scheme shall cease to exist.

(ix)Thc Trust shall pay the repurchase value as early as possible after the

statement of account alongwith a request letter has been received by it

and other procedural and operational formalities are complied with.

(x) In case of NR1 investors, repurchase proceeds will be remitted depending upon the source of investment.

Fundamental Attributes

(a) "Fundamental attributes" mean the following.

i. .Type of scheme : Capital Growth Unit Scheme is an equity scheme made open ended with effect from January 01. 1997. ii. Investment objective: as provided under clause 8 B of this offer document, iii. Terms of issue: provisions in this offer document in respect of repurchase and expenses.

(h) Any change in the fundamental attributes of the scheme will be

carried out only if:
1262 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC. 4
AMENDMENTS TO EQUITY SCHEMES - REPOftT*NG

^IttMfrnilin

i) the existing members are intimated by individual communication inci ii) an advertisement is given in English daih newspaper having

circulation all over India and also in a Marathi newspaper,

iii) the members are" given an option to exit at prevailing NAV without my exit load.

(e) The Board maj from time to time add to or otherwise amend this scheme and any amendment/addition thereof will be notified in the Official Gazette as required in terms of section 21(4) of the UT1 Act l % 3.

ft.

7.

(cl) Any change/amendment/modification of the fundamental attributes of the scheme will be made with the prior approval of the SEBI. In respect of other changes/amendments/modifications not being of fundamental nature and not affecting the interest of the investor adversely. SEBI will be kept informed. Table showing Corporate Investment in the Trust's schemes and the Trust's investments in these companies inserted as per the standard offer document''. Inter-Scheme Transfers

Transfer of investments from /to this scheme to/from another schemes/plans of the Trust shall be done only if- ;i) such transfers arc on spot basis and are at the prevailing market price for quoted instruments.

Explanation : "spot basis" shall have the same meaning as specified by the stock exchanges for spot transactions.

b) the securities so transferred are in conformity with the investment

objective of the schemes/ plans to which such transfers are made; and

c) transfer of unlisted or unquoted investments from/to the scheme to/from another schemes/plans of the Trust are as per the policies laid down bv the Board of Trustees of the Trust.

Associate Transactions & Borrowings

X.

I. The scheme shall not borrow except to meet temporary liquidity needs

of the scheme for the purpose of repurchase/redemption of units or

distribution of income, if any, to the member s.

Provided that the scheme shall not borrow more than 20% of the net

asset of the scheme and the duration of such a borrowing shall not

exceed a period of six months.

2. As per section 20 of the Unit Trust of India Act 1963 the Trust has

the following borrowing powers:

(i) The Trust may borrow, whether in India or outside India from

any authority or person, not being Government or the Reserve Bank,

against such security and on such terms and conditions as may be agreed

upon.
PARI III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1263
AIMENDMFA rs TO EQUITY SCHEMES . REPORTING

Mustfrtftnn lii) The Trust may borrow money frormhe Reserve Bunk-

law for the time being in force in India: (b) repayable on demand or within a period of eighteen months from the (.hue on which the money is so borrowed, against the security of the bonds which the Trust may issue with the approval of the Central (iovernment: (c) on such terms and conditions and against the security of such other property of the Trust as may be specified in this behalf by the Reserve Bank for the purposes of any scheme other than the first unit scheme: IVovided that any amount borrowed under this clause and outstanding at any one lime shall not exceed- (a) five crores of rupees in respect of each such scheme; and (b) ten crores of rupees in respect of all such schemes in the aggregate, (iii) The bonds issued by the Trust under sub-section (ii) shall be guaranteed by the Central Government as to the repayment of principal and Ihe payment of interest at such rate as may be fixed by the Central (iovernment at the time the bonds are issued.

V-.ilimtion of assets pertaining to this schema (a) Quoted investments including those underlock-in period, if any, but except government securities are valued at the closing market rates on ihe valuation date and in its absence, at the latest available quote within" a period of sixty days prior to the valuation date. If no quotes are available for a period of sixty days prior to the valuation date, the same is Heated as unquoted investment. (b) Quoted government securities are valued at closing NSE market rates on the valuation date and in its absence the latest available quote within a period of seven days prior to the valuation date. If no quotes are available for a period of seven days prior to the valuation date the same are treated as unquoted government securities. (c) In case of quoted debentures and bonds, the market rate, being cum- interest. the same is adjusted for the interest element, if any. (d) Right entitlements for shares are valued at market rates, discounted for dividend element, wherever applicable. (e) Unquoted preference shares/cumulative convertible preference shares are taken at cost. (f) Unquoted equity shares are valued on fair valuation basis as determined by the Board of Trustees from time to time. (g) Unquoted debentures bonds and transferable notes are valued aj yield to maturity , linked to the yield on GOI Securities (yield curve) along with a mark up approved by the Board of Trustees.

,2 64 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2", 1924) [PART I I I - S H C, 4
AMENDMENTS TO F.QUm1 SCHEMES - REPORTING

Mmu'remn

h) Unquoted warrants are valued at the market rate of the underlying equity shares discounted for dividend element, if any. and reduced by ihe exercise price payable. In cases where the exercise price payable is lighcr than the value so derived, the value of warrants is taken as nil.

(i) Unquoted Government securities, if any, are valued at yield to maturity based on the prevailing interest rates.

(j) Convertible debentures and bonds where composite market quotations are not available, the convertible portion is valued at the market rate relevant to equity shares, discounted for dividend element, if any. The non-convertible portion if any. of such debentures and bonds is valued as in (g) above. Where terms of conversion are not specified in respect of the convertible portion, the same is taken at cost.

(k) Capital indexed bonds are valued on cost basis.

(1) Valuation policies for Monev Market instruments :-

(i) Money Market instruments and other assets are taken at book value, (ii) The money invested in inter bank call market is taken at cost, (iii) The money invested in discount/interest earning instruments is valued at the yield at which the instrument was last traded. For this purpose the latest available quote within a period of two working days, prior to the valuation date is considered. When there are no quotes available in the last two working days, the instrument is valued at cost plus the difference between the face value and the cost, applied uniformly over the remaining maturity of the instrument.
However, notwithstanding anything contained in respect of clauses

valuation of assets, fixation of repurchase price and frequency of

disclosure of NAV, repurchase price and portfolio would be in

accordance with the provisions of SEBI (MF)

Regulations/Guidelines/Directives issued by SEBI from time to time.

10.

Accounting Policies

i. Income recognition

(a) Dividend Income on listed equity shares is accrued on the ex- dividend date. Dividend income on unlisted equity shares and preference shares is accounted on receipt basis.

(b) interest on investments and commitment charges is accounted for on accrual basis.
PABT IH_SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1265
AMEN'DMFNTS TO EQUITY SCHEMES - REPORTING

^ \tir\riT\inin

e) Profit or loss on sale of investments is recognised on the trade dates in the basis of weighted average cost.

(.1) Profit or loss and premium on redemption of debenture/bonds are vcognised on the due date,

e) Underwriting commission is recognised as revenue on receipt basis when there is no devolvement. In case of devolvemcni, the full underwriting commission is reduced from the cost of such investments.

(f) Front-end fee on investments in shares and debentures is reduced from the cost of such investments,

(g) The difference between purchase price and the maturity value in respect of zero coupon bonds, deep discount bonds and other long term discounted instruments is treated as income over the remaining life of the instrument on YTM basis.

(h) Other income is accounted for on receipt basis.

2. Expenses

ii, Expenses lire accounted for on accrual basis. 1). Certain common expenses incurred through Unit Scheme IW>4. are allocated to the other schemes as per the provisions of Sec 25 (4) of UTI Acl l%3.

c. Unit Scheme l%4 which owns the fixed assets, recovers leuse rent, on an approved basis, from other schemes for their usage of the said assets.

.V Investment!)

a. Investments are stnteel at cost or written down cost.

h. In case of secondary market transactions investments are recognised on trade dates,

t, Subscription to primary market issues Is accounted as investments, on allotment.

d. Bonus/right entitlements are recognised on ex-bonus/ex-right dates.

e. Investment viz.. debenture and bonds, are transferred to current assets on the redemption / due date.

f The cost of investments include brokerage and service tax but does not include cost of stamps which is charged to revenue.

J ^rftVlsif"¹* 1266 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC, 4
AMENDMENTS TO EQUITY SCHEMES - REPORTING

Mmiemmii

A) Provisions against the income considered doubtful: Vovision is made in respect ol" interest income remaining past due for wo quarters or more. Provision is made in respect of dividend at the ear end, where it remains outstanding for more than one year from the

ON- dividend date.

H) Depreciation in the value of investments i) The aggregate value of investments as computed in accordance with clause 17 above is compared to the aggregate cost of such investments md the resultant depreciation, if an>. is charged to General Reserve / inii Premium Reserve. In case such aggregate value exceeds the iggrcgate cost or the aggregate value as at the end ol" the previous year, he appreciation is added to Unit Premium Reserve/ General Reserve to he extent depreciation was previously adjusted,

(it) 1 ii cases where unquoted equit\ or preference shares were written off m the earlier years. \\\Q cost of such investment is written back to its cost, as and when a quote or fair value is available.

(iii). Assets where interest is remaining post due for two quarters or more are classified as non performing assets. Provision for such assets is made individually (as stated in the table below). Such provisions are not

• made for other performing assets of the same company.

Percentage of Provision

Period for which asset

Remains non-performing

Unsecured

Secured Asset

Asset

10%

10%

I Iplo (wo yenrs

100%

20%

Exceeding two years

Bui upto three yenrs

100%

30%

Exceeding three years Km upto five years

100%

50%

Exceeding five yenrs

(iv) Where principal repayment remains outstanding (i) for two quarters beyond the past due period in respect of the debt instruments with a balance maturity of not more than 3 years and (ii) for one year beyond the past due period in respect of debt instruments with a balance mnturity of more than 3 years, provisions are made for such outstanding instalments, The overall provision for such assets is limited to the percentage mentioned in the above table (upto 50% for secured nnd 1 ()()% for unsecured assets) or the amount in default whichever is higher.

Any subsequent instalments in such cases where the original defaultPART HI—SbC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1267

AMr.N'nMF-NTS TO EQUITY SCHEMES - REPORTING

Mtnirnmin

continues, are provided after 30 days from ihe respective due dales.

fv) In case of funding of interest by way of capitalisation of outstanding interest dues, the- same is provided irrespective of the period of default.

(vi) Provisions for non performing assets are charged to Unit Premium Reserve/General Reserve/ Revenue Account as the case may be.

(vii) Provisions made under paragraph 4(A) and 4(B) (iv) are written back on receipt or on restructuring of the assets. Provisions under 4(B) (v) are written back on receipt basis.

5. Income Distribution :

income distribution is charged to revenue appropriation account in the year of capitalisation. (h) Provision for income distribution is made on unit capital at rates approved by the Board of Trustees from time to lime. 6. Publication of Financiiil Results: The unaudited financial results as on 31st December will be published within 2 months and audited annual results as on 30lh June will be published within six months of finalisation of accounts in one English daily and one Marathi daily.

11. Tax Treatment of Investments 1. Residents/NRls/OCBs i) Taxation of income, if any, and capital appreciation, if realised, under the scheme will be subject to prevalent tax laws. ii) Currently income, if any, received by all categories of investors under all schemes/plans of the Trust is totally free from tax under section 10(33) ofthe Income Tax Act. 1 % 1. The scheme is required to pay an income distribution tax at the rate of 10% and surcharge of 10% thereon under Section 115R of Income Tax Act. 1961 on the amount of income, if any, distributed by it. However, being open ended equity oriented fund, the scheme will not be subject to the said \m undefthe said section upto 31" March, 2Q02, provided mere than 30H ofthe total -proceeds of the scheme are invested In equity shares of domestic companies: iii) Currently, any long term capital gains arising out of Investment In the scheme by residents and NRla out of rupee originated er NRG funds will he subject to treatment indicated under sections 48 and 112 of the

SH—S(W (11/1001! 2 68 THE GAZETTE OF INDlA:MARCH23;JCmjCHAn^_2L1924) [PART III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES - REPORTING

\ta\wrgain

1

income Tax Act. ! % 1. At present the investor is required to pay tax @ 20% on long term capita! gains after factoring the benefit of the Cost Inflation Index. However, the capital gains accruing to investments made through NRE accounts are not taxable.

1 I iv; Value of investment in units under the scheme is completely exempt from Wealth Tax.

I

v) The Gift Tax Act. 1958 has abolished the levy of Gift Tax in respect of units of the scheme are fully exempt from tevy of Gift Tax.

2) Eligibility for Capital Gains Tax Exemption under Section 54EA

Investment of entire or part of net consideration arising out of transfer of long term capital assets in Capita! Growth Unit Scheme will be eligible for capital gains tax exemption under Section 54EA of the Income Tax Act. 1961 subject to repurchase.of units only after three years from the date of acceptance of the application.

3) Eligibility for Capita! Gains Tax Exemption under Section. 54EB Investment of entire or part of capita! gains arising out of transfer of long term capital assets in Capital Growth Unit Scheme will be eligible for capital gains tax exemption under Section 54EB of Income Tax Act, 1961 subject to repurchase of units only after seven years form the date of acceptance of application.

4) For Eligible Trusts

12.

Units are approved securities under section 1 l(2)(b) of the Income Tax Act 1961. Eligible Trusts investing in units will therefore, qualify for tax exemption in respect of income and corpus under sections 11 and 13 of the Income Tax Act. 1961. Constitution & Management of Unit Trust Of India

Constitution of UTI Unit Trust of India was set up as a statutory body under Unit Trust of India Act. 1963, with a view to encouraging saving and investment and participation in the income, profits and gains accruing to the Trust from the acquisition, holding, management and disposal of securities. It started functioning with effect from 1st July, 1964.

Management of UTI The Management of the affairs and business of the Trust are vested in the Board of Trustees with a full time Chairman appointed by the Government of India. Besides the Board, there is a statutory Executive Committee comprising the Chairman and two other Trustees nominated by the Industrial Development Bank of India. This Committee is competent to deal with any matter within the competence of the Board. Board of Trustees *

1. Shri P S Subramanyam Chairman, Unit Trust of India P*RT III—SEC-. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA^_!924) ¹ ² ⁶⁹

AMENDMENTS TO FQU1TV SCHEMES - REPtWTlNg

Gujarat Ambuja Cements Lid. 5. Shri Rajendra P Chitale Chartered Accountant 6. Dr. Vishvanath V Desai Economist 7. Shri G Krishnamurthy Chairman. L.l.C. 8. Shri G G Vaidya Chairman. S.B.I. 9. Shri K C Chowdhary Chairman & Managing Director. Central Bank Oflndia * The other current directorships of the Trustees arc as follows: 1. Shri P S Suhramanynm (i) Chairman & Director - The India Fund, (ii) Chairman &. Director -India Growth Fund, (iii) Chairman &. Director - India Access Ltd. (iv) Chairman &. Director - The India Public Sector Fund Ltd. (v) Chairman of Governing Council - DTI- Institute of Capital Markets, (vi) Chairman &. Director - UTI Investment Advisory Services Lid (vii) Chairman &. Director - UTI Investor Services Ltd (viii) Chairman - UTI-Securities Exchange Ltd.. (ix) Director- UTI Bank Ltd. (x) Chairman & Director - Over-The-Counter Exchange of India (xi) Member - Life Insurance Corporation oflndia. (xii) Direcior - Discount & Finance House of India Ltd. (xiii) Director - Securities Trading Corpn. of India Lld.(xiv) Director - National Stock Exchange oflndia Lid. (xv) Trustee - Indian Institute of Software Engineering. 2. Shri C P Gupta- (i) Chairman- Small Industries Development Bank ol India, (ii) Director- The India Fund (iii) Director- India Growth Fund, (iv) Director - Discount and Finance House of India Ltd. {v) Direcior- Exporl-lmporL Bank of India, (vi) Director- Securities Trading Corpn. oflndia Ltd.. (vii) Director- Infrastructure Development Finance Co. oflndia Ltd., (viii) Director- Indian Airlines Ltd. (ix) Director- IDB1 Bank Ltd. (x) Director- National Stock Exchange of India Ltd. (x) Member- Life Insurance Corpn, of India, (xi) Member- General Insurance Corpn. of India (xii) Director- South Asia Regional Fund, (xiii) Chairman - South Asia Development Fund, (xiv) Council Member- Indian Institute of Bankers, (xv) Member- Bankers Training College (RBI), (xvi) Member- Association of Development Financing Institutions in Asia and the Pacific (xvii) Member- Institute of Banking Personnel Selection (xviii) Member- The Institute of Company Secretaries oflndia 3. Shri N S Sekhsariu - (i) Director - Gruh Finance Ltd. (ii) Director- Radha Madhay Investments Ltd. (iii) Director - Home Trust Housing Finance Co. Ltd. (iv) Director- Ambuja Cement foundation (v) Director Ambuja Educational Institute 4. Shri Rajendra P Chltale - (i) Director - Small Industries Development Bank oflndia, (ii) Director- "National Securities Clearing Corporation Ltd (iii) Director - J M Capital Management Ltd. (iv) Director - Zurich Asset Management Company (India) Ltd- (v) Director- India Index Services and Products Ltd. (vi) Director- Association of Leasing and Financial Services Companies, (vii) Member - F.xecutive Committee (Governing Board) of National Stock Exchange, (viii) Member - India Advisory Board of Bank of America NT &, SA (ix) ↩

Shri G P Muniappan Executive Director. RBI 3. Shri G P Gupta Chairman & Managing Director. IDB1 4. Shri N.S. Sekhstiria Managing Director. ↩

Utiitrr^utti,2 70 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

AMENDMENTS TO EQUITY SCHEMES - REPORTING

\hi\tergatn

vlember - Investment Committee. Lite Insurance Corporation of India. 5. Shri V V Dcsai - Advisor - IC1C1 Limited. 6. Shri G Krishnamurthy - (i) Chairman - LIC (International) EC. Bahrain (ii) Chairman - LIC Housing Finance Ltd. (iji) Director - General Insurance Corporation of India (iv) Director- Poysha Industrial Co. (v) Chairman. Governing Board- National Insurance Academy (vi) Director- National Housing Bank (vii) Director- UTI Bank Ltd. (viii) Director - Discount & Finance House of India (ix) Director- Kenindia Assurance Co. Ltd..Kenya (x) Director- ICICI Ltd. (xi) Chairman- Governing Body of Insurance Council 7.Sliri G G Vaidya- (i) Chairman- SBI Capital Markets Ltd. (ii) Chairman- SBI Funds Management Ltd.. (iii) Chairman - SBI Gilts Ltd.. (iv) Chairman - SBI Securities Ltd.. (v) Chairman - SBI Factors & Commercial Services Ltd., (vi) Chairman - SBI European Bank Ltd.. (vii) Chairman - State Bank oflndore. (viii) Chairman - State Bank of Saurashtra. (ix) Chairman - State Bank of Patiala. (x) Chairman - State Bank of Bikaner & Jaipur . (xi) Chairman - State Bank of Hyderabad, (xii) Chairman - State Bank of Mysore, (xiii) Chairman - State Bank of Travancore. (xiv) Chairman - State Bank of India (California), (xv) Chairman - State Bank of India (Canada), (xvi) Vice President of the Governing Council - Indian Institute of Bankers, (xvii) Director- National Bank for Agriculture and Rural Development. (xviii) Director - Export- Import Bank of India, (xix) Director- General Insurance Corporation, (xx) Member of the Governing Board & Chairman of Finance Committee- National Institute of Bank Management . (xxi) Member of the Governing Board. Chairman of the Finance Committee & Office Premises Committee & Committee of Administrators of IBPS Employees Pro. Fund. - Institute of Banking Personnel Selection (xxii) Member- Institute for Developing & Research in Banking Technology, (xxiii) Director- Infrastructure Development Finance Corporation . (xxiv) Director- Infrastructure Leasing & Financial Services Ltd.. (xxv) Director- Export Credit Guarantee Corporation, 8. Shri K C Chowdhary - (i) Chairman - Small Group on Bank Audit. Indian Banks" Association (ii) Chairman- Banking Operations, Indian Banks" Association, (iii) Chairman - Small Group on Credit Related Matters. Indian Banks" Association (iv) Chairman - IBA Working Group for Interaction with Trade Bodies/Associations, (v) President - Indian Banks' Association. Local Chapter, (vi) Member - Managing Committee. Indian Banks" Association, (vii) Chairman - Centbank Home Finance Ltd.. (viii) Chairman - Centbank Financial & Custodial Services Ltd., (ix) Director - Agricultural Finance Corpn. of India, (x) Director - Mastercard Asia/Pacific Board, (xi) Director - The New India Assurance Co. Ltd.,(xii) Member - Task Force, Indian Banks" Association.

Management of the Fund:

13.

14.

Name of the fund manager alongwith his qualifications and experience inserted. Custodians

The SEBI registration number of SHCIL is IN/CUS/011PARI I l l - S i e. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1271

AMENDMENT^ TO EQUITY SCHEMES - REPORTING

^laWiTjfimi

1 ariit structure ot SHCIL is as under:

*

Electronic

Physical

_

^materialisation

Rs.5 per certificate

'urchase

Rs.lOOperDIP

5.5. basis points on

The value of the

Transaction

Sale

Rs. lOOperDlS

5.5 basis points on The value of the Transaction

Ctistoch

1.5 basis points on The asset value in The custody

8 basis points on the asset value in the Custody

0IV market Purchases

5.5 basis points on

the value of the

Transaction

OIV market 5.5 basis points o n Sales the value of the Transaction Rs. 15 per certificate Kcmaterialisation Or 15 basis points of Conversion value Whichever is higher

Auditors 15. M/s. Chaturvedi & Company, Chartered Accountants. 60. Bentik Street. Calcutta 700 069 and M/s Batliboi &. Purohit, Chartered Accountants, National Insurance Building, 204. D N Road, Fort. Mumbai 400 001. The auditors of the scheme are appointed by the IDBI and they are subject to change from year to year.

16. Table showing Investors' Grievance Redressal data inserted

1. There are no cases relating to penalties awarded by SEBI under the SERI Act or any of its regulations or by any Stock Exchanges (where the units of the schemes of UTI are listed) against the Unit Trust of India/Board of Trustees, or any of the Trustees or key personnel (specifically the fund managers). 2. There are no pending material litigation proceedings incidental to the business of the Unit Trust of-ftidia including the Board of Trustees or any of the trustees or key personnel. Th&e are no pending criminal cases against the Unit Trust of India, Board'of Trustees or any of the Trustees or key personnel. 3 Neither SEBI nor any other Regulatory Agency has specifically,2 72 THE GAZETTE OF INDI A._M ARCH 23, 2002 (CHAITRA 2, \924)^__^J^SK^

AMENDMENTS TO EQUITY SCHEMES .REPORTING

\ iiKtereiii".

at!vised that any deficiency in the systems and operations ol" the Unit i nisi oj" India be disclosed in the otter document. 4. There are no enquiry/adjudication proceedings under the SEB1 Act and the Regulations made thereunder, against Unit Trust of India. Board ol"Trustees/Trustee or key personnel. T;ihie Rivin" condensed financial information inserted

IX.
PART III—Stc. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1273
AlmbNL. i b N ia i u bUUI TY SCHEMES - REPORTING

Grandmaster

ANNEXUREI

GUANDMASTEH UNIT SCIIlCMli - I'KOVISIONS MODinEU/INSEUTED

Clause No.

Existing provisions

Amended provisions

Highlights

Open to resident individuals and institutions as well as to NRls, OCBs and FIIs.

2"'¹ item

Open to both resident and nbn resident adult individuals/ minors / HUFs / Trusts / Partnership Firms / Societies/ Bodies Corporate (including companies registered under the Companies Act, 1956) / Overseas Corporate Bodies (OCBs)/FIIs

Highlights Repurchase at NAV based price

3rd item

6th item - Repurchase will be at a discount not exceeding 3% of the daily NAV of the unit. Partial repurchase permitted subject to a minimum balance of Rs.5,000/- per folio.

Highlights Items not included

Following inserted:

3rd item - Minimum investment is Rs.5000/- with no maximum limit. For subsequent investments under the same folio the minimum investment is Rs.1000/-.

4th item -The face value of a unit is Rs.10/-.

5th item - Sate and repurchase will be based on the NAV as at the close of the day on which the application is accepted. Sale will be at NAV.

7th item - Facility to reinvest the income, if any, will be available at NAV.

8th item - Switchover facility from the scheme to such other schemes which may be announced by the Trust from time to time or vice versa at NAV or NAV based price.

9th item - Currently Income Distribution, if any by the scheme is totally tax free in the hands of investors under sectionlO(33) of Income Tax Act 1961. Further, being an open end equity oriented fund it will not be subject to Income Distribution tax for a period up to 31" March, 2002 under section 115R of the Income Tax Act 1961.

10th item - Capital gains arising from capital appreciation, if any, on repurchase of units is subject to tax benefits under sections 48 & 112 of Income Tax Act, 1961.

11th item - Investment eligible for availing of capital gains tax exemption under sections 54EA and 54EB of the Income Tax Act, 1961, depending upon the source of fund subject to repurchase of units only after lock-in- period of three/seven years respectively from the date of1274 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

Grandmaster

acceptance of the application.

12th item - Value of investment in units under the scheme is completely exempt from Wealth Tax,

13th item - The Gift Tax Act, 1958 has abolished the levy of Gift Tax in respect of gifts made on or after 1st October 1998. Thus gifts of units of the scheme are fully exempt from levy of Gift Tax.

Risk Fnctors

1st item

Mutual Funds and securities investments are subject to market risks and tjie NAV of the units issued under the scheme may go up or down depending on the factors and forces affecting the capital markets.

Investment in units of the Scheme are subject to market risks and the NAV of the Scheme may go up or down depending on the influence of market forces op the scheme's portfolio.

Not provided for

Risk Factors

4th item - Derivatives: Trading ill derivative securities like options & futures is a highly specialised activity and entails greater risk than ordinary investment. Even though the scheme intends to use the activity of trading in derivatives only for portfolio hedging purposes, the overall market in these segments could be highly speculative due to the actions of the other participants in this market. The success of trading in derivatives depends upon the ability of the, fund manager in predicting the future movement of the market and if the fund manager is incorrect in their prediction the performance of the fund could diminish compared to what it would have been if this investment strategy had not been used.

5th item - Investment in overseas market: The success of investment in overseas market depends upon the ability of the fund manager in understanding of those market conditions 2L analysing the information, which could be different from Indian markets. As this would involve operations in foreign markets there could be exchange rate fluctuations risk besides market risk.

6th item - Stock Lending: It is one of the means of earning additional income for the scheme with least risk. The risk could be in the form of non-availability of ready stock for sale during the period the stocks remain lent. The scheme would be exposed to risk through stock lending activity through the possibility of default by the borrower/intermediary in returning the lent securities. However, the risk would be adequately covered by taking in'suitable collateral from the borrower \>y the intermedjflry involved in the process, the Trust will have a lien on the collateral. The Trust will also have other suitable checks and controls at various places to miflimise any risk involved in the securities lending process.

Definition* (da) Date of acceptance" or (a) "Acceptance date" with reference to an applicmtlenPAR, 111—SKC. 41 THH GAZETTE OF INDIA, MARCH 23, 2(X)2 (CHAITRA 2, 1924) 1275 Grandmaster 11 (da)

acceptance date with, reference to an application made by an applicant lo the Trust for sale or repurchase of units by the Trust means the day on which the Trust, after being satisfied that such application is in order, accepts the same.

made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the branch office of the Trust, after being satisfied that such application is complete in all respects, accepts the same. The acceptance date in respect of sale and repurchase applications received at the franchise office/ collection centre will be the date of receipt of the application at the office of the Registrar or the 5"' working day (T+5) from the date of its receipt thereof at the franchise office or collection centre(T), whichever is earlier. The Trust may reduce the number of working days from 5 to a lower number, as may be decided.

Existing item (a) is renumbered as (b).

Definitions No provision exists.

Clause 11

(c) "Alternate applicant" in case of minor means the parent other than the parent who has made the application on behalf of the minor.

"Definitions

II (b)

Applicant' means a person having application for the units under the scheme.

(d) "Applicant" means a person who is eligible to participate in the scheme and makes an application under Clause IV of the scheme and who is not a minor.

Definitions No provision exists

II

(da) "Eligible Institution" means an eligible trust as defined in the Unit Trust of India General Regulations 1964.

Definitions No provision exists

II

(db) "Firm", "partner" and "partnership" have the meanings assigned to them in the Indian Partnership Act, 1932 (9 of 1932), but the expression partner shall also include any person who being a minor is admitted to the benefits of the partnership.

Definitions

II

(pa) "Unitholder" means a person who holds units for the time being including the person holding units in the depository mode,

(h) "Member" used as an expression under the scheme shall mean and include the applicant who has been allotted units under the scheme on or after ?6lh April,2000. "Member" also means a "unit holder" including the persons holding units under unit certificate and in the depository mode and all the expressions can be read synonymously.

Existing item (h) numbered as (g). Existing item (g) deleted.

Definitions No provisions exists

(ka) "RBI" means the Reserve Bank of India established under the Reserve Bank of India Act, 1934.

II

Definitions

11(1)

"Registrars" means a person whose services may be retained by the Trust to act as the Registrar and Transfer Agents under the scheme, from time to time.

'Registrars' means a person appointed to act as the Registrar from time to time under the scheme.

No provision exists

Definitions

II

(mb) "Society" means a society established under the Societies Registration Act of 1860 or any other society established under any State of Central law for the time being in force.

59—509 GI/2001,T7h THC GAZK1TE OF FNDJA. MARCH 23, 2002 (CHAITRA 2. 1924) [PAH. I I I - S E C. 4 Grandmaster Definition:;

¹ Unii' means one undivided share of the luce value of Rupees Ten.

"Unit" means one undivided share of face value" of Rupees ten in the unit capital.

" ( ")

Definitions

11 (p)

'Unit Capital' means the aggregate of the lace value of units issued and allotted under the Scheme.

"Unit Capital" means the aggregate of the face value of units sold under the scheme and outstanding for the time being.

| Definitions No provision exists

(pa) "Unit Trust" or "Trust" means the Unit Trust of India established under Section 3 of the Act.

Existing item pa deleted.

Definitions

U (i)

Words not defined in this Scheme shall have the meanings assigned to them under the Act.

All other expressions not defined herein but defined in the Act/ Regulations shall have the respective meanings assigned to them by the Act/ Regulations,

Definitions Nu provision exists.

Clause II

00

PARF HI—Sa . 41 THE GAZETTE OF INDIA. MARCH 23, 2002 ( C H A i r e A ^ ^]

l £"

Grandm:n;ei Partnership Firm:

(7) A Partnership Firm.

Categories

of Investors

IV (7)

An application by a partnership firm shall be made by not more than three members of the firm and the first named person shall be recognised by the Trust lor ali practical purposes as the member.

A partnership firm shall have the meaning respectively assigned to it in the Indian Partnership Act, 1C>32 (0 of 1932), but the expression partner shall also include any person who being a minor has been admitted to the benefits of the partnership firm.

Categories

No provision exists

(11) An Army/Navy/Air Force/ Paramilitary fund.

of Investors

l IV (11)

i Categories No provision exists

(12) A Public Sector Undertaking (PSU).

of Investors

IV (12)

T imitation

.i

Expenses

Recurring expenses; The following expenses will be charged to the scheme on a recurring basis. Estimated annual recurring expenses are as under:

Expenses As % of average dailv N AV

!

first

paragraph

of V

The following expenses will be charged to the Scheme on a recurring basis which shall not exceed 3% Of the average daily Net Asset Value during any accounting year. Estimated recurring expenses are as under:

AdministrativeExpenses 0.95

Expenses %

CustodialFees 0.20

Contribution to DRF 0.25

AdministrativeExpenses 1.00 SlaffWelfare Fund 0.10

CusuxiialFees 0.50

Registrars Fees 0.50

DevelopmentReserveFund 0:10

Marketing & Sales 0.50

StatrWelfareFund 0.10

Promotion

[ RegistrarsFces 0.50

Miscellaneous 0.80

Total 2.50

Total 3.00

The above are estimates and are subject to change inter

se as per actual expenses incurred.

The total annual recurring expenses of the scheme

including administrative expenses, contribution to

Development Reserve Fund and Staff Welfare Fund

shall be subject to the following limits:

(a) On the first Rs.100 crores of the average daily net

assets - 2.50%

(b) On the next Rs.300 crores of the average daily net

assets - 2.25%

(c) On the next Rs.300 crores of the average daily net

a s s e t s - 2 . 0 0%

(d) On the balance of the assets - 1.75%.mo TOP r,A7FTT'P OF INDIA. MARCH 23. 2002 (CHAITRA 2. 1924) [PART III—SEC. 4 Grandmaster Limitation on Expenses

Administrative expenses, contribution to Development Reserve Fund and contribution to Staff Welfare Fund will not exceed the limits specified under clause 2 of regulation- 52 of SEBI (MFs) Regulations, 1996, namely:

paragraph of V

(a) One and quarter of one percent of the daily average net assets outstanding in each accounting year for the scheme as long as the net assets do not exceed Rs.100 crore, and

(b) One percent of the excess amount over RsilOO crore, where net assets so calculated exceed Rs. 100 crore.

The above expenses are estimates and arc subject to change inter se as per actual expenses incurred. However, the total expenses would be within the limit of 3% of the daily average net asset value during any accounting year, in accordance with SEB1 (Mutual Funds) Regulations, 1993. Further, administrative expenses, contribution • to Development Reserve Fund and contribution to Staff Welfare Trust will not exceed 1.25% of the daily average NAV of tiie Scheme during the accounting year.

While the Trust does not charge any investment management and advisory fees as provided in the SEBI (Mutual Funds) Regulations, 1996 it will ensure that the annual recurring expenses shall remain within the limits specified under regulation 52 of SEBI (Mutual Funds) Regulations, 5996.

The fees expenses and accounting poiicies will be subject to change, depending on \he Regulations/ Guidelines issued by SEBI.

Sale of Units

An individual or individuals not exceeding three who are adults (on joint /anyone or survivor basis) may be permitted to apply for units.

VI (b)

An individual or individuals not exceeding three who are adults (on joint basis) may be permitted to apply for units.

Sale of Units

VI (d)

The face value of units will be Rs. 10/- Applications shall only be made in the form prescribed in multiples of hundred with a minimum of two hundred units. There is no maximum limit of investment.

Application shall be made for a minimum of Rs.5000/-. There is no maximum limit and units will be allotted up to three decimal places. For subsequent investment under the same folio the minimum investment is Rs.1000/-. In the case of investment of Rs.50,000/- and above by resident or NRI through NRO account, the investor is advised to furnish Income Tax P.A.N./G.I.R. number and I.T. Circle address if he/she is having so.

Sale of Units

If the payment is made by a cheque/draft, the acceptance of an application will be subject to such cheque/draft being realised.

2n" and 3rd sentences of VI (e)

NRIs .should submit their applications preferably at the NRI Branch, Mumbai or at any of the Branches of the Trust along with NR(E)/NR(O) cheque or a rupee draft payable at the place where the application is submitted.

Investment by FIIs should be through payment by debit to the Special Non-Resident Rupee Account maintained with a designated bank / authorised dealer, approved by RBI.

W payment is made by cheque, the acceptance date will, subject to such cheque being realised, be the date on which the application is received by the branch office of the Trust or authorised collection centre. If payment is made by draft, the acceptance date will subject to si|ch draft being realised, be the date on which the application is received by the branch office of the Trust or authorised collection centre.

In respect of all applications for sale / repurchase received and accepted at UTI branch offices or received at Registrar's office [please see II (da)] by 2 p.m. on a particular day the applicable NAV will' be that of the same day. AH applications received and accepted after 2 p.m. will be governed by the NAV of the next workingpi u, iiT.-Sn.- 41 THH r.A/F.TTH OF INDIA. MARCH 23. 200?. (CHAITRA 2, 1924) 1279 Grandmaster

day.

Non-individual applications along with required documents will be accepted only at offices of the Trust.

Statement of Account

Sale of

units'

VI (i)

1) For units sold on 26"' April.2000 and thereafter the Trust shall issue a statement of account with an assigned folio number, not later than 6 weeks from the date of acceptance of application.

A unit certificate will be sent if required. The certificate if sent will be by registered post, with or without acknowledgment due to Ihe address given by th,e applicant;, and the Trust will not incur any liability for loss, damage.mis- delivery of the unit certificate so sent.

2) Every member will receive an updated statement

of account under the folio each time any additional

purchase or partial repurchase or switchover or

transfer of the units pursuant to clause XI (a) &

XI (c) below or rcmatcrialisation of units held in

depository mode is made by the member under the

folio,

3) The NRJ investor may choose any one of the following modes of despatch of statement of account

(i) At the applicant's Indian/foreign address OR

(ii.) At the address of the NRJ applicant's relative in India.

4) In case of FIIs, the statement of account will be sent to their global custodians or at the address furnished in the application.

5) If the member so desires, a unit certificate will be issued to him within six weeks of the receipt of request to issue the certificate in lieu of the statement of account.

6) Both unit certificate / statement of account are equally valid evidence of admission of the investor into the scheme.

7) Provisions of clauses shall apply mutatis mutandis to units covered by unit certificate and to the unit holders.

Sale of

No provision exists

units'

(j) Mode of payment for NRI investment with

repatriation benefits

vi (j) & (k)

The investments by NRIs/OCBs shall carry the right of repatriation of capital invested and income earned thereon and capital appreciation so long as the investor continues to be resident outside India. Investment in these cases can be made through one of the following modes:

(i) By a draft in rupees issued in favour of the Trust by a bank/exchange house operating outside India drawn on their Indian correspondent banks.

(ii) By a cheque drawn on the investor's NRE account maintained with a-bank in India.

(iii)By a cheque/draft issued from the proceeds ofnxn THE GAZETTE OF INDIA. MARCH 23. 2002 (CHAITRA 2, 1924) [PART III—SKC. 4 Grandmaslei

FCNR deposits oi the investor.

Note: Payment in Nepalese and Bhutancse currencies are not accepted.

(k) Mode of payment for NRI investment without

repatriation benefits

i) Where funds held in NRO accounts are utilised for purchase of units, the funds so invested and capital appreciation (if any), will not qualify for repatriation out of India. Similarly, investments in units purchased in rupees while the investor was a resident of India and becomes non-resident subsequently will not qualify for repatriation of sale proceeds of units.

ii) As per RBI circular A.D.(M.A. Series) No. 18 dated August 19, 1994 the entire income distribution earned thereon during the financial year 1996-97 and onwards will qualify for full repatriation. In such cases the Trust will make payment in Rupees for credit to NRO A/C. Investors are advised to contact their banks/tax consultants if they desire remittance abroad of the income distribution on units.

No provision exists

The following provisions shall apply as regards registration of members :

Register of members

XA

(1) A register of the members shall be kept by the Trust at its offices and there shall be entered in the register -

(a) the folio number and the number of units standing

to the credit of the member;

(b) Name and address of the member; (c) Name(s) of second & third holder; (d) Nature of holding; (e) Name of the nominee / beneficiary; (0 Date of admission to membership;

(2) The restrictions stipulated in Clause X applicable

to unit certlficate(s) and unit holdcr(s) shall apply

mutatis mutandis to statement of account and units

applied for / standing to the credit of a member.

Transfer/Pledge/Assignment of units

a) Transfer facility - units issued pursuant to this

offer document

Transfer of

units

subsequent

to issue:

All units issued under the Scheme and outstanding are freely transferable after listing of the Scheme on major stock exchanges subject to the following terms:

Clause XI

(a) The unit certificate issued in accordance with the provisions of the scheme is negotiable and can be transferred tp the individuals, expressed and such other categories as are mentioned in Clause IV of tha provisions of the scheme. The acceptance of the

Subject to the following exception, units under statement of account are not transferable. But, being an open ended scheme, sale/repurchase facility is available on an on going basis at NAV/NAV based price. However, if a person becomes a holder of units by operation of law or upon enforcement of a pledge ( as given in (b) below) or due to death insolvency or winding up of the affairs of sole holder or survivors of a joint holder then, subject to production of such evidence which in the opinion of the Trust is sufficient, the TrustPART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1281 Grandmaster Transfer Deed and the admittance ,if the transferee shall he at the sole discretion oi" the Trust.
1 2 S2 THE GAZETTE OF INDIA, MARCH 21, 2002 (CHAITRA 2, 1924) [PAKI III—SEC. 4
Grandmaster

transferor or his right 10 .transfer units.

(vi) The Registrar may, subject to compliance with such requirements as they deem necessary and in their discretion, dispense with the production of the original unit certificate, should it be lost, stolen or destroyed.

registering a transfer may issue the original or fresh unit certificate to the transferee upon puymenl and realisation of such charges as are payable in connection with the transfer and issue a certificate or certificates.

(vii) Upon registration of transfer of units all instruments of transfer and the cancelled unit certificate may be retained by the Registrar.

(viii)The Registrar recognising and registering a transfer will issue statement of account to ^ the transferee.

(ix) Under special circumstances, holding of units by a company or other body corporate with another company or body corporate or an individual/individuals, none of whom is a minor, will be considered by the Trust.

(k) If a transferee becomes a holder of units in an official capacity, by operation of law or a scheduled bank upon enforcement of a pledge then the Registrars shall subject to the production of such evidence which in their opinion is sufficient, proceed to effect the transfer, if the intended transferee is otherwise eligible to hold units.

(x)Subject to the provisions contained hereinabove, the Trust shall register the transfer and issue the statement of account to the transferee within 30 days from the date of lodgement of the unit certificate together with the relevant instrument of transfer. In case of joint transferees, the statement of account will be sent to and all payments in respect of the holding will be made only in the name of the first member.

(1) As soon as the Grandmaster Unit Scheme is listed with the recognised stock exchanges, the transfer/ transmission formalities shall be undertaken in accordance with the provisions of listing agreement and guidelines issued in this regard by stock exchanges and as stated in the scheme.

(m) In case of transfer of units by a holder units in depository mode to another person or vice versa, the transfer will be effected in accordance with such rules/regulations as may be in force governing transfer of securities in a depository mode.
PART III—She. 41 THE GAZETTE OF INDIA, MARCH 23. 2002 ICH\1TR/>. J, 1^2 \) 1283 sranomas1sr
No Nomination By Unit holders Nomination by members

Nomination

XII

There will be no provision for m;\l;int: any nomination under the scheme.

(i) Nomination facility is av:.;!ablc only for individuals applying on their own behalf i.e. singly or jointly up to two,

(ii) Only one person can be nominated,

(iii)Minors including a NK1 minor can be nominated.

(iv)Nomination of NRis is subject to requirements of the RBI prescribed from time to time,

(v)Nomination can be changed at any time during trie currency of the investment.

(vi) Applicant being eithei parent or lawful guardian on behalf of a minor, an eligible institution, societies, i bodies corporate, HUF and partnership firms shall have no right to make nomination.

(vii) Olhcr provisions will be to the extent provided in the regulations.

(viii) The facility of the statutory nomination is available to a member under Section 39A of the Unit Trust of India Act, 1963. Accordingly, where a nomination in respect of any unit has been made in accordance with the UTI General Regulations, 1964, the unit shall, on the death of the member(s), vest in the nominee and the nominee shall be issued a statement of account in respect of the unit so vested subject to any right, title, claim or other interest of any other person to or in respect of the said units as provided in such regulations and subject to any charge or encumbrance over the said units, Transmission made by the Trust as aforesaid shall be a full discharge to the Trust from all liability in respect of the said units.

Publication of Accounts:

lblicution

of Accounts

Amended and included as itcn, 10 under 'Accounting Policies' in annexurc III

XIII

The Trust shall, as soon as may be after the 30'" June each year cause to be published in such manner as the Fund may decide accounts in the manner specified by the Board showing the working of the scheme during the period ending as on that date. The Trust shall on a request in writing from a unit holder, furnish him with a copy of the accounts so published.

The fees, expenses and accounting policies will be subject to change, depending on the Regulations/Guidelines issued by SED1.

M)~M)9 GI/20011284 THE GAZETTE OF INDIA, MARCH 23, 2002 fCHAITRA 2, 1924) [PART III—SEC. 4 Grandmaster Repurchase- of linisf-

1. Repurchases will be open throughout the year except (luring the hook closure no! exceeding 45 days in a year.

XV

(j.slnc unit holder shall be under no obligation to offer his units for ivpirciuisc a'Ki he will hi*
2, The repurchase price of the unit of Grandmaster Unit Scheme, shall be arrived at by deducting from the unit NAV a sum not exceeding 3% of the NAV to meet brokerage, commission, taxes and other administrative charges, expenses as also impact costs in relation to realisation of the investments.

i i

3. Repurchase will be effected on receipt of* the repurchase request slip/unit certificate duly discharged.

f

i

Partial repurchase shall be permitted subject to the member maintaining a minimum balance of Rs.5000 per folio to be computed at the repurchase price applicable as on the date of acceptance of repurchase application.

The contract for repurchase shall be deemed to have been concluded on the acceptance date for repurchase.

\b) The Unit Trust shall, on request by the unit holder for repurchase, repurchase full or specified part of the units indicated ip'-the unit certificate, as the case may be. being -always in multiple of! 100 units provided that no partial icrurchase so made results in ;ht unit holders holding less ti"."> 200 -jnits, Ths unit certificate so received shall be retained by the Lni' Trust fcr cancellation. Tlr- Unit Trust shall, in the case of repurchase of a part of the units indicated in the unit certificate, issi'e a new unit certificate for the balance of units held by the unit holder.

4, In the even! of partial repurchase, depending on the number of units retained by him, the member shall be issued a fresh statement of account. No interest shall be payable on the repurchase proceeds.

|

(c) The contract for repurchase shall he deemed to have been concluded on the acceptance date.

(d) Payments for units repurchased by the Unit Trust shall be made as early as- possible after the acceptance¹ date in such manner as the applicant may indicate in the applications: No interest shall, on any account, be payable on the amount due to the applicant, and the cost of remittance (including postage) or of realisation of cheque or draft sent by the Unit Trust shall be borne by the applicant.

5. In the event of the death of the member/s and on surrender to the Trust by the legal representative of the statement of account, the request letter for repurchase of units outstanding to the deceased member, the Trust shall on compliance with the requirements laid down in connection with the recognition of claim, repurchase the units in accordance with such rules and guidelines as may be formulated by the Trust and pay the outstanding amount up to the date of settlement of the claim. The legal representative of the member ma. instead of receiving the repurchase value of all units to the credit of deceased shall be permitted to hold the units as a member and continue to remain registered as a member and shall be issued a statement of account in his/her name in respect of units so desired to be held subject to the conditions regarding minimum holding and provided that he/she is otherwise eligible to hold units in the scheme.

(e) A holder of units in. the depository mode desiring to have the units repurchased shall follow such i ules/ guidelines/procedures as may be formulated from time to time.

6, Payment for units repurchased by the Trust after the deductions, if any, shall be made within 10 working days (provided the application is in order) from the date of receipt of the repurchase request slip at the centre where the repurchase requests are processed.

No interest shall, on any account, be payable on the amount due to the applicant and the cost of remittance (Including pontage) or of realisation of cheque or drnfl sent by the Trust shall be borne by the applicant.
PART III—Sec. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 ( C H A I T RA 2, 1924) 121i? ijTtmdmtistftr
7. In case of non-resident investors, repurchase proceeds will be remitted depending upon the source of investment as given below:-

a) Where .units have been purchased out of remittance in foreign exchange from nbroad or from the proceeds of the member's FCNR deposits or from funds held in member's Non-Resident External (NRE) Account with a bank in India, the proceeds can be remitted to the member in foreign currency or credited to NRE or Non- Resident Ordinary (NRO) account or puid to his relative in India.

b) Where units have been purchased while the applicant was resident in India or oul of funds held in members NRO Account, the maturity proceeds will be sent cither to the investors bankers in India for credit to his NRO account or to a relative of the investor in India.

9. In case of F1I, repurchase proceeds will be credited to the Special Non-Resident Rupee Account or as per instructions issued by SEBI/RBI from lime to time. > No provision exists

XVA. Switchover

i) Members under the scheme will be permitted to switchover their investment from the scheme to such other schemes or vice versa which may be allowed by the Trust from time to time. In such a case they may apply for the switchover by submitting their request in the prescribed Composite Services Form (CSF)/duly signed unit certificate, if any.

(ii)The switchover will be t;fleeted at NAV or NAV . based price as may be decided by the Trust.

(ii) Partial switchover from the scheme to such other schemes or vice versa which may be announced by the Trust from time to time should satisfy the condition of holding minimum investment limit under both the schemes. The Trust shall retain the unit certificate, if any, for cancellation and the member shall be issued fresh statement of account of both the schemes,

(iii) Investment made in the scheme for the purpose of availing benefits under section 54 EA/54 EB of the Income Tax Act, 1961 shall not be permitted to be switched over before the expiry of the lock-in-period of 3 and 7 years respectively.

The Trust shall have the right at its sole discretion to accept and/or to reject an application for issue of units under the scheme. The Trust shall reject an application for issue of units in the following circumstances:

Right of

Trust to

accept or

reject

application

(i) the application is received with less than the minimum investment of Rs. 5000 and Rs.1000/- in Trust shall have the right at its sole discretion to¹ accept or to reject applications for issue of units under the Scheme, Any decision of the Trust about jhe eligibility or otherwise of a person to make an application under the Scheme shall1?86 THE GAZETTE OF INDIA, MARCH 23. 2002 (CHA1TRA 2, 1924) [PART III—SEC. 4 Grandmaster be final.

Clause XVII

respect of initial investment and subsequent investment per folio thereafter respectively.

(ii) the application has not been signed by the first applicant

(iii) the applicant is not eligible to invest in the scheme. Any decision of the Trust about the eligibility or otherwise of a person to make an application under the scheme shall be final.

iv) In case the'application is found to be incomplete, the same will be liable for rejection.

Any application without the first applicant's bank particulars will be liable to be not accepted.

j

Refund in such rejected cases will be made after compliance of requisite operational and procedural formalities without incurring any liability, whatsoever, for interest or other sum.

a) Persons applying for units under the scheme on behalf of a minor shall satisfy the Trust about their eligibility to make an application and comply with all requirements as laid down by the Trust such as submission of the Birth Certificate in case of minor.

Applicant t"" Comply with Rcquircmc nts under the scheme before being issued units.

XVIII

b) An adult, being a parent, step-parent or other lawful guardian of a minor may hold units and deal with them in accordance with and to the extent provided, in sub- section (2A) of Section 21 of the Act. Such adult if so required shall furnish to the Trust, in such manner as may be specified, proof of the age of the minor and his capacity to hold and deal with units on behalf of the minor. The Trust shall be entitled to act on the state- ments made by such adult on the application form without any further proof.

Persons applying for units under she Scheme shall be bound to .satisfy the Trust about their eligibility to make an application under (he Scheme and to comply with ali the requirements of the Trust. A ,;.:rson who holds units under a fah:e declaration shall be liable to have the Unit Certificate cancelled and his name shall be deleted from the register of unit holders. The Trust shall have the right in such an event to repurchase the links ^ par. The amount shall not earn¹ any interest irrespective of the period it takes the Trust to repurchase and to remit the repurchase proceeds to the applicant.

Provided in such an event, in respect of holder of units in the depository mode, the Trust shall follow such rules / guidelines / procedures as may be formulated from time to time.

i

c) Applications for units on behalf of bodies like Partnership Firms/Co-operative Societies/Bodies Corporate/Companies shall be accompanied by certified copy of Partnership. Deed/Bye-Laws of the Society/Statute governing the Body Corporate/Memorandum and Articles of Association of theXompany together with Resolution of the governing Body authorising investment in the scheme. At the time of repurchase of the units, resolution of the governing body authorising repurchase and authorisation of the concerned ofificial(s) of the Body to comply with the formalities and collect the repurchase cheque will have to be submitted.

d) Person who holds units under a false declaration shall be liable to have the unitholding cancelled and the name deleted from the register of members.

c) In aforesaid cases, the Trust shall have the right top . . ,. ni—Nuv 41 THF. GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) 12X7 Grandmaster

repurchase the units at par or NAV whichever is lower after deduction of 25% as penalty or at such price as may be decided by the Trust, and recover the Income Distribution, if any, wrongly paid from out of the repurchase proceeds and return the balance. The amount shall not cany any interest irrespective of the period it takes the Trust to effect the repurchase and to remit the repurchase proceeds to the applicant.

Snlc and ¹ Repurchase

Prices

XIX (1)

The price at which a unit will be sold by the Unit Trust (hereinafter referred to as the "sale price"), and ihe price at which a unit will be repurchased by the Unit Trust (hereinafter referred to as the "repurchase price") shall be declared on a daily basis. The sale price will be the NAV (historic). Repurchase price will be at a discount of 5% to the NAV (historic).

The price at which a unit will be sold by the Trust will be hereinafter referred to as 'Sale Price'. The sale price of units will be on forward pricing basis at NAV as at the close of the day on which the application is accepted. The contract for sale of units by the Trust shall be deemed to have been concluded on the acceptance date. The repurchase price of the unit of Grandmaster Unit Scheme, shall be arrived at by deducting from the unit NAV a sum not exceeding 3% of the NAV to meet brokerage, commission, taxes and other administrative charges, expenses as also impact costs in relation to realisation of the investments.

Income Distribution

Distribution of income to unit holders

(a) Although growth is the objective of the scheme, the scheme may make income distribution from time to time.

(a) The Trust rnay or may not declare income distribution under the scheme depending upon the income received under the scheme and the expenses accrued thereunder.

XXI

(b) Such of the members whose names appear in the register of members as at the close of registers prior to the declaration of income distribution by the scheme shall be entitled to receive the income so distributed under the scheme.

(c)The income distributed by the scheme shall be paid through ECS, wherever such facility is available or by a cheque or warrant encashable at the branches of such bank/s as the Trust may specify under pre-payment arrangements with the bank/s.

(b) The Trust may decide to make such distribution of income as it considers necessary and transfer such sum or sums as it may deem lit out of the income not distributed to one or more reserve funds. The reserve funds which are not earmarked for application for any specific purpose shall be jpplied lor or used only for the benefit of the unit hplders.

(d ) In case of declaration of income distribution, the Income Distribution Warrants shall be despatched within 42 days from the date of declaration of the income distribution.

(a) (e) Reinvestment of income distributed:

(c) Income distribution to the unit holders shall be made as soon as may be. after the closing of the annual accounts of the Scheme as on 30th June each year.

In case of declaration of dividend, the Income Distribution Warrants, shall be despatched within 42 days from the date of declaration of the dividend.

The member may opt for reinvestment of income , if any, declared by the scheme in further units. In the event of an exercise of such an option the whole of the income on his unitholding, after deduction of tax, if any, instead of being paid to the member in the manner provided in Clause VIII . (c) hereinabove shall be reinvested in further units of the scheme at NAV and credited to his folio. A fresh statement of account will be issued pursuant to such crediting?

(d) Such of the unit holders whose name appear in the register of unit holders as at the c|ose of registers

f) Bank particulars of investors & Electronic1288 THE GAZETTE OF INDIA, MARCH 2.1, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 Grandmaster Clearing Service:

prior to the declaration of income distribution by the Scheme shall be entitled to receive and retain the income so distributed.

(e) In case the unit holder has transferred the units prior to the declaration of income distribution and the transfer )ias not taken effect, ihe transferee shall not be entitled to the income distribution subsequently unless the transferee has lodged the transfer documents with the Registrars 30 days before the closure of the registers preceding the declaration of the income distribution.

i) In order to avoid fraudulent encashment of Income Distribution Warrants/Repurchase cheques/ Maturity cheques, SEDI has made it mandatory for investors, in their own interest to give bank particulars at the appropriate place in the application form. Applications without bank particulars will be rejected. Accordingly, applicants residing outside the eleven cities given at item (ii) below are requested to yive the full particulars of their bank account (i.e. nature of account, account number and name of bank) at the appropriate space in the application form as well as on the acknowledgement receipt portion for record. Income Distribution Warrants/repurchase cheques will then be made out in the name of the member with the bank particulars for crediting the member 's account so | specified and sent to them. 1 (0 The income distributed shall be paid by the Grandmaster Unit Scheme by cheque or warrant drawn on its bankers with appropriate payment facilities.

ii) Currently ECS facility is being made available to investors from Mumbaj/Calcuita/ Chennai/New Delhi/ Ahmedabad/ Baroda/ Pune/ Bhubaneshwar/ Bangalore/ Hyderabad/ Jaipur (number of centres may be added/deleted prospectively) for direct credit to their bank accounts at the respective centres and where the amount of single instrument docs not exceed Rs.5,00,000/-. The investor will be given a statement giving details of credit to his bank account,

iii) The bank branch of the investor will credit his account and indicate the credit entry with "ECS" in the passbook/statement of bank account. The applicant is requested to fill up the particulars of name and address of his bank, nature and number of account, 9 digit Bank and branch MICR code no. etc. in the application form.

(g) It shall be lawful for a unit holder to receive and any income distribution, declared by the Scheme in respect of units of which he is a holder notwithstanding that the units have already been transferred by him for consideration unless the transferee who claims the income from tlie transferor has within 30 days of the date on which his income became due, lodged the certificate and all other documents relating to the transfer.

iv) In case the number of investors from aforesaid cities are not sufficient enough or for any other reasons, the Trust may pay the income by issue of income warrants carrying bank account details instead of paying.income through "ECS".

c) Income Distribution to NRI/OCBs investors (h) Income Distribution to the unit holders holding units in depository mode shall be made in accordance with such rules/regulations as may be formulated from time to time. Income distribution to NRI/OCBs investor shall be made as per the Exchange Control Regulations. The present position regarding payment of income is as follows:

i) The warrant can be issued in the name of the member and sent to a relative who is resident in India for crediting the NRE/NRO account of the member, as the case may be. OR

ii)The warrant can be issued in the name of a relative who is resident in India and sent to him for being credited to his account.
PART HI—SFC 41 THE GAZETTE OF INDIA, MARCH 23, 2002 iCHAITRA 2, 1924) 1289 Grandmaster
h) ECS facility is also available to NRI investors who have their own bank accounts in Mumbni. For those NKI investors who winh u> credit the income distribution to their resident relative's account. ECS facility could be extended to them at places as indicated in sub clause XXI(f) (ii).

i) . In case of FIIs, income distribution will be credited to the Special Non-Resident Rupee Account Or as per instructions issued by SEBI/RBI from time to time.

Refer to item 9 of annexure III.

The existing provisions have been replaced by the provisions given under Hem 9 ofannexure III.

Valuation of assets pertaining to this scheme

XXII

The NAV shall be issued to the press for publication daily.

The NAV (on histqric basis) shall be issued to the press for publication daily.

Computnti •>n nnd . isclosurc of Net Asset Value

XXIII.

Tracing of Units

The following paragraph is inserted at the end of the clause

XXIV

The units of the scheme issued prior to 26lh April, 2000 and remaining outstanding up to 26lh April, 2000 are listed on the major stock exchanges.,. Units being issued/sold on or after 26lh April, 2000 will not be listed in any stock exchange.

The units are listed on the Stock Exchanges at Mumbai, New Delhi, Calcutta,. Madras, Bangalore, Ahmcdabad, Hyderabad. Kanpur and Jaipur. Tho Trust will announce the net asset value determined on Thursday or the previous working day if it is a holiday and intimate the value to all the Stock Exchanges for the purpose of being quoted.

(b) A unit holder desirous of liquidating his holdings may trade the units through any of the Stock Exchanges.

(c) The Trust will not either directly or in any manner indicate the price or prices; at which the units could be bought or sold through the market, However, the last prices at whjch units were bought or sold at the Stock Exchanges in a trading will be published in leading daily newspapers.

The Trust, however, retains the right to delist the units from the stock exchanges if in the interest1290 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

Gi nnelnmster

ni unil holders or the Trust it is deemed necessary to do .so.

(d) The buyer of units through the market either by himself or through a recognised broker shoukl submit the transfer deed and the relative unit certificates to the Registrars of the Scheme giving effect to the transfer if found in order.

(e) The buying or selling of units through the market at whatever price shall be at th,e risk of a unit holder or a prospective unit holder, l-iowcver, for the purpose of determining the stamp duty to be payable on transfer of units the average of the high and low prices that ruled on the date prior to the date of transfer shall be the basis for the charge.

Buy back of

Units

Notwithstanding anything to the contrary in the provisions of the Scheme so long as any part of the unit capital remains listed on any stock exchange :

Notwithstanding anything to the contrary in the provisions of the Scheme:

XXIVA.

(a) The Trust may buy back such units from the market at the ruling price whenever such units are quoted at 10% or more below its NAV.

(a) The Trust may buy back units under the Scheme from the market at the ruling price whenever such units are quoted Pt 10% or more below its NAV.

(b) The Trust may buy back up to 25% of such unit capital issued under the Scheme in any one financial year as an overall limit, The unjts which are bought back will be extinguished.

Explanation

(b) The Trust may buy back up to 25% of the unit capital issued under the Scheme in any one financial year as mi overall limit. The units which are bought back will be redeemed.

(i) "Market" means any of the recognised Stock Exchanges on which the units under the Scheme are listed.

Explanation

(ii) "Ruling Price" means the market price of units on the recognised Stock Exchanges ruling at the time units are bought back by the Trust.

(i) "Market" means any of the recognised Stock Exchanges on which the units under the Scheme are listed.

Restrictions on Investment

(ii) "Ruling Price" means the market price of units on the recognised Stock Exchanges ruling at the time units are bought back by the Trust. (a).Investment by the Trust ol its investible funds under the scheme in the securities Issued by any company shall not exceed 10% of

(a) Investment by the Trust of its investible funds under the scheme.,.in the securities issued by any company shall not oxeeed 10Vn of the taut) fands or 15H of tl™ securities issued and outstanding of such companypA RT [IT—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1291 Grandmsster whichever is less, (b) Investment by the Trust of its investible funds under the scheme in the securities of any new company shall not exceed 10% of the securities issued by such company and the aggregate of all such investment shall not exceed 30% of the investible funds.

Explanation: A new company means a company whose shares have been listed on any Slock Exchange first within one year prior to investment in the shares by the fund.

XXV the total funds oi 15% of the securities issued and outstanding of such company whichever is less, (b) Investment by tli" Trust of its invesiiblc funds under the scheme in (he securities of any . new company shall not exceed 10% of the securities issued by such company and the aggregate of all such investment shall not exceed 30% of the investible funds.

(c) The Trust may for operational convenience or to seek changes in opportunities keep invested at any time not exceeding 20% of the funds in any short term money market instrument, convertible or non- convertible debentures, bank deposits, bills rediscounted or similar other avenues.

Explanation: A new company means a company whose shares have been listed on any Stock Exchange first within one year prior to investment in the shares by the fund,

(c) The scheme may invest in derivative investments as and when permitted by SEBI and available for investment by the scheme.

(d) The, Trust may for operational convenience or to seek changes in opportunities keep invested at any time not exceeding 20% of the funds in any short term money market instrument, convertibleor non-convertible debentures, bank deposits, bills rediscounted or similar other avenues.

Provided that till the Trust fully deploys the funds of the scheme in securities, it may keep the funds not so employed invested in such securities as may be considered expedient including those referred to in clause (c) above, (d ) The restrictions on investment prescribed shall be applied with reference to circumstances at the time the investments are made and shall not be deemed to have been exceeded, notwithstanding that, by reason of fluctuation in the market price or investments, reason of issue of bonus shares or right shares by tile company in whose securities investments have been made, the limit is in fact exceeded, (e) No term loans will be advanced by this scheme, (f) The Trust shall buy and sell securities on the basis of deliveries and shall in all cases of purchases, take delivery of relative securities and in all cases of sale, deliver the securities and shall in no case put itself in a position whereby it has to make short sale or carry forward transaction or engage in badla finance,

(g) The Trust shall get the securities purchased by it transferred in Its name.

(h) Subject to requisite authorisations, the Trust, in appropriate circumstances, may use techniques and instruments, such as futures and options and other derivatives subject to applicable regulations and counter-party risk assessment, as prescribed by SEBI from time to time, for the purposes of achieving the investment policy of the scheme or hedging or minimising the risk,

Provided that till the Trust fully deploys the funds of the scheme in securities, it may keep the funds not so employed invested in such securities as may be considered expedient including those referred to in clause (d) above, (e ) The restrictions on investment prescribed shall be applied with reference to circumstances at the time the investments arc made and shall not be deemed to have been exceeded, notwithstanding that, by reason of fluctuatipn in the market price or investments, reason of issue of bonus shares or right

(i)(i)The scheme will participate ih the stock lending programme, in accordance with the terms of securities 61—504 G1/20011242 THE GAZKTTE OF INDIA, MARCH 23. 2U02 (.CHAITRA 2, 1924) [P*Ri III—SET > Grandmaster

lending scheme announced by SEBI. The activity shall be carried out through approved intermediary.

(ii) The maximum exposure of the scheme to a single intermediary in the stock lending programme at any point of time would be 10% of the market value of the equity portfolio of the scheme or such limit as may be specified by SEBI.

¹

(iii) If the Trust is permitted to borrow stocks the scheme may, in appropriate circumstances borrow stocks in accordance with SEBI guidelines in that regard,

(j) The scheme may invest in securities issued by overseas/foreign companies and listed abroad or securities issued by Indian corporates to foreign/overseas investors and listed on foreign stock exchange directly by subscribing to such issues or purchasing them on foreign stock exchanges in accordance with the SEI31 / RBI guidelines in that regard from time to time.

(k) The scheme shall not make any investment in;

a) any unlisted security of an associate or group company of the Trust; or

b) any security issued by way of private placement by an associate or group company of the Trust; or

c) the listed securities of group companies of the Trust which is in excess of 25% of the net assets,

(1) The services of UTI Securilies Exchange Limited (UTI SEL) a stock-broking firm and wholly owned by UTI may be utilised for securities transactions of the scheme as per the policies and subject to the limits laid down by the Board of Trustees of the Trust. UTI SE7 was set up in 1994, with registered office at Mumbai.

i

(n>) The scheme shall invest not more than 10% of its NAV in the equity shares or equity related instruments of any company.

i
pi OT m—spr 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1293 Grandmaster
investments shall be made with the prior approval of the Board of Trustees.

tlone only if- (,i) such transfers arc done at the prevailing market prjee lor quoted instruments on spot basis, (h) Ihe securities so transferred shall he in conformity with the investment object of the scheme/plan to which such transfer has been made, (c) Transfer of unlisted or unquoted investments from the scheme to another scheme/plan shall be as per the policies laid down by the Board pf Trustees of the Trust. (8) The scheme shall not invest in or lend to another scheme/plan of the Trust, unless otherwise provided by SEBJ under MF Regulations/Guidclirjes/Directives. (°-) The scheme shall not borrow funds lo finance its investments, unless otherwise permitted by SEB1 under MF Regulations/Guidclines/Directives.

The following is inserted at the end of the clause.

The above provisions shall appfy mutatis mutandis to units covered by 'Statement of Account' and 'Members¹.

Trust not to be Recognised Regarding Unit Certificates

i The person who is registered as the unit holder and in whose name a Unit Certificate has been issued shall be the only person to be recognised by the Trust as the unit holder and as having any right, title or interest in or lo such Unit Certificate and the Units which it represents; and the Trust may recognise such um\ holder as the absolute owner thereof and shall not be bound by any notice to the contrary or to take notice of the execution of any trust or save as herein expressly provided or as by :.(inu' court of competent jurisdiction ordered to recognise any r[ rust or equity or other interest affecting the title to any Unit Certificate or the Units thereby represented,

Exchnn"t !)l Unit Ccrltficatc .nul

The following is inserted at-the end of clause, under the heading 'Exchange of Statement of Account and Procedure when the Statement of Account is Mutilated, Defaced, Lost Etc'

Si'bjeel K> ihe provisions of this scheme, every unit holder shall be entitled li. ^wclian^e any or all of his Unit Certii'icau.'S for one- or mnre Unit Cuilificates m

j Procedure

win ↩

In such cases a statement of account will be issued1294 THE GAZETTE OF INDIA, MARCH 21, 2002 (CHAITRA 2, 1924; [PART III—SKC. 4 Grandmaster

based on a simple request.

when the

Certificate

is

Mutilated,

Defaced,

Lost Etc.

XXIX

marketable lots, representing the same aggregate number of Units. While applying for such exchange, the unil holder shall surrender to the Trust the Unit Certificate or Certificates to be exchanged and shall pay to the Trust all monies (if any payable, thereunder) in respect of the issue of the new Unit Certificate or Certificates.

1 i

1

(2) In case any Unit Certificate shall be mutilated or worn or defaced, the Trust at its discretion, may issue to the person entitled a new Unit Certificate representing (he same aggregate number of units as the mutilated or worn or defaced Unit Certificate.

In case any Unit Certificate should be lost, stolen or destroyed, the Trust may, at its discretion, issue to the person entitled a new Certificate in lieu thereof. No such new Certificate shall be issued unless the applicant shall previously have:

i) Furnished to the Trust evidence satisfactory to it of the mutilation, wearing out, defacement, loss, theft or destruction of the original Unit Certificate.

ii) Paid all expenses in connection with the investigation of the facts.

iii) In case of mutilation or wearing out or defacement produced and surrendered to the Trust the mutilated or worn out or defaced Unit Certificate; and

iv) furnished to the Trust such indemnity as it may require. The Trust shall not incur any liability lor issuing such Certificate in good faith under the provisions of this clau.se.

(3) Before issuing any Certificate under the provisions of this clause, the Trust may require the applicant for the UnitPART Til— SE<. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1295 Grandmaster Certificate to pay a- fee of Rupee One per Unit Certificate issued by it together with a sum sufficient in the opinion of the Trust to cover stamp duty, if any. or other charges or taxes including postal registration charges that may be payable in connection with the issue and despatch of such Certificate.

i Provided that no fee, stamp duty or postal registration charges shall be payable in respect of such issue of Unit Certificate in the following cases, viz.

i) When a Unit Certificate issued to an applicant or issued under clause XI Q) to a transferee is tendered for the first time for sub- division.

ii) When consolidation of Unit Certificates is suggested by the Trust and such a suggestion is accepted by the unit bolder.

Devclopmc

nt Reserve

Fund

(DRF)

0.10% of the daily average Net Asset Value (NAV) shall be set aside as contributiori towards the DRF of the Trust every year.

(i) A sum equal to 0.25% p.a. of the daily average Net Asset Value shall be set aside as contribution towards the DRF of the Trust. DRF contribution will be part of j ! the recurring expenses.

Contribution

XXX

(ii) The Trust instituted this fund in the year 1983-84 as a common fund to enable the Trust to meet the expenditure in respect of research & developmental work in connection with, the introduction of new schemes, innovation of new systems and procedures at the conceptual stage and also various other productional & developmental work not related to or linked with any particular scheme itself. The Fund is also utilised for Economic and Capital Market Research, Management & Professional Training, Surveys and Market Research for the Trust, Marketing and Corporate image building efforts that are not connected to any specific scheme. Human Resource Development efforts with long term effects and which may relate to the Trust¹*} future uctivities and for meeting the shortfall, if .m-, in the assured rate of return of any of the schemes ol the Trust as well as the issue expenses for no-load schemes.

Staff

Welfare

Fund

Contribution

0.10% of the daily average Net Asset Value (NAV) shall be set aside as contribution to the Staff Welfare Fund of the Trust every

0.10% of the daily average Net Asset Value (NAV) shall be set aside as contribution to the Stuff Welfare Fund. The Trust has instituted the Stafi Welfare Fund for the welfare 'of its employees which shall include relief in distress, medical relief, health relief or forr gh THH GAZHCTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) [PART 1)1—SEC. 4

Grendmuste'r

similar other purposes.

XXXI

year.

Amended and included under 'Investor,-.' Rights mid Services' below.

Copy of sdicnic (o he made available

XXXIII

A copy of this scheme incorporating all amendments thereto shall be made available for inspection at the offices of the Registrars or of the Scheme (when established) at all times during its business hours and may be supplied upon payment of Rs. 5/- to a unit holder.

Amended and included as item 5 under 'Fundamental Attributes' in annexure III

Additions and amendment s to scheme

The Board may from tune to time add m or otherwise amend or alter this Scheme and any amendment or alteration thereof vv ill be notified in the Official Gazette.

XXXIV

In case of any amendments prior approval of SEEM shall be obtained. Amendments to the provisions of the Scheme can be effected with prior approval of the Executive Committee and of SEBI.

Investors Rights
Rights of Unit holders

1. Members under the scheme have a proportionate right in the beneficial ownership of the assets of the scheme and to the income declared by the scheme.

i. Unit holders under (he scheme have a proportionate right in the beneficial ownership of the assets of and to the dividend, if any, declared by the scheme.

2. The members have a right to ask the Trustees about any information which may have an adverse bearing on their investments and the" Trustees shall be bound to disclose such information to the members.

3.The members have the right to have, statement of account issued to them not later than 6 weeks from the date of acceptance.

2. The unit holders have a right to ask the Trustees about any information which may have un adverse bearing on their investment;) and the Trustees shall be bound to disclose such information to the unit holders.

3. The unit holders are entitled to have the dividend warrants sent to them within 42 days of the date of declaration of the dividend.

4.The members have the right to have the repurchase proceeds dispatched to them within 10 working days (provided the application is in order) from the date of receipt of the application at the office where the repurchase requests arc processed.

4 The unit holders have the right to inspect all documents listed under the heading "Documents. available for inspection.¹'

5.In fhe case of income distribution the members have ihe right to have income distribution warrants despatched within 42 days from the date of declaration of the income distribution.

i

j
PART III—SFC. 41 THE GAZETTfc OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 12-J7
Giandmasmr shall be made available to the member s on request on

payment of nominal fee. if any.

7. Any change in the fundamental uilributes of the scheme will be carried out if the investors are allowed lo exit at NAV besides being intimated by individual communication.

8. Under specified circumstances the approval of member s will be sought by a Postal Ballot.

9. The member s have the right to inspect the following documents at the Central Investors Relations Cell, Unit Trust of India, SNDT Women's University Basement, Door No.l, Sir Vithaldas Thackersey Marg, Miunbai 400020.

• The UTI Act

• The General Regulations

• The agreements with the custodians, registrars and

paying bankers

• Copy of Offer Document of Grandmaster Unit Scheme

Disclaimer

New provisions inserted as per Refer to item 1 of annexure III.

ClaiiNC

iicm 1 ofannexure III.

Due

To be submitted to SEBI and then

Diligence

inserted as per standard format

Certificate

Termination

New provisions inserted as per Refer to item 4 of annexure" III.

item 4 of annexure IIJ.

Of the Scheme

New provisions inserted as per Refer to ttem 7 of annexure HI.

Intcrsclicmc Transfers item 7 ofannexure III,

New provisions inserted as per Refer to item 8 of annexure III.

item 8 of annexure 11J.

vsocintc

i rnnsnctlons

&

Borrowings

New provisions inserted as per Refer 'o item 11 of annexure 111.

item 11 ofnnnexurc III.

Tax

Treatment

of

Investment*

Constitution

Refer to item 12 of annexurc III.

New provisions inserted as per item 12 of annexure III.

& Mnnngenunt ofUTl

CustncJinns

Rtt'ur to item 14 & 15 of annexure III.

& Auditors

Existing information uj-nlntcd as per items 14 <&, 15 of annexure HI.

I'cnnltic*,

Refer to item 17-of annexure III.

New provisions inserted as per item 17 of annexure III.

pending
I2QR THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART I I I — S tc 4
Grandmaster litigations, material findings of inspections/ invcStigatio ns

To be inserted as per the latest data.

Condensed Financial InformationPART III—SRC. 4] THE GAZKTIK OF INDIA, MARCH 7:V 2002 jCHATTRA 2, I'J24) 1299

ANNF.XtJItr II

C K A N D M A S T EU UNIT SCHEME- PROVISIONS DELETED

Cliiusc

Remarks

ICxistin^ provisions

no.

I Definitions

Deleted.

(c) 'Application' means the form of application prescribed for offer of units for all applicants and containing the terms and conditions for the purpose of unit subscription to the scheme for the investing public.

(d) 'Allotment* means allotment of units against a valid application in a manner determined by the Trust for the purpose.

(g) 'Grandmaster' means Units as hereinafter defined and the share or unit in the. capital of 'Grandmaster Unit Scheme' or 'Grandmaster' as hereinafter defined.

(j) 'Offer of Units' means the full offer for saie of units made by the Trust under offer documents to investors to constitute the capital under the Scheme.

Last piimgriipli of XIX

2.

Deleted as it is redundant.

The calculation of sale and repurchase prices and the spread between them shall be as per the recommendations of the Expert Committee set up by SEBI in this regard.

3. Last paragraph of clause XXIII titled Computation and Disclosure of Net Asset Value (NAV)

Notwithstanding anything cpntained in these provisions the valuation of assets, computation of NAV, repurchase price and their frequency of disclosure would be in accordance with the provisions of SEBI (MF) Regulations/ Guidelines/ Directives issued by SEBI from time to time.

The paragraph has been deleted. The modified paragraph included under 'Valuation of assets pertaining to this scheme in Annexure I. 4.

XXVI. Form of Unit Certificate

The unit holders shall be issued certificates specifying the number of units allotted to them within 6 weeks from the date of acceptance of the application.

Deleted as statement of account will be issued.

Unit Certificates shall be in Form A annexed hereto or in such form as may be approved by the Trust for smooth operation of the scheme. Each Unit Certificate'shall bear a distinctive number, the number of units represented by the Certificate and the name of the unit holder. Certificate will be issued in marketable lot of 100 Qrandmaster Units up to maximum number of 20 Grandmaster Certificates (i.e. Rs.20,000/-), For any investment beyond Rs.20,000/- one consolidated Certificate (21st Certificate) will be issued (i.e. more than 2000 Grandmaster Units). This consolidated Certificate will be °olit, once free of cost, on reqifest from investor and thereafter the split may be ''Jllpwe'd on payment of charges as jnay be decided by the Trust. For Non- Resident Indians the Certificates will be issued in marketable lot of 100 Units irrespective of the amount invested.

Deleted as XXVU, Manner of Preparation of Unit Certificate:

5.

(52—509 GI/200I
J300 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
Grandmaster statement of iiceoimi will be issued.

The Unil Certificates may be engraved or lithographed or printed as the Board ma,\. from lime lo lime. determine and shrill he signed on behalf of ihe Tuisi by 1 wo persons duly authorised by ihe Trust, livery such signature may either be autographic oi may be effected by a mechanical method. No Unit Certificate shall he valid unless and until it is so signed. Unit Certificates so signed shall be valid and binding notwithstanding that, before the issue thereof, any person whose signature appears thereon, may have ceased to be a person authorised to sign Unil Certificates on behalf of the Trust. Provided further that should the Unii Certificate so prepared contain the signature of an authorised person who -however is dead at the time of issue of the Certificate;-the Trust may by a method considered by it as most suitable, cancel the signature of such a person appearing on the CerUficate and have the signature of any other authorised person affixed to it. The Unit Certificate so issued shall also be valid.

6. I'mver to Construe I'lyvisions

Deleted as it is not permitted under SEB1 Regulations.

Should am doubt arise as to the interpretation of any of the provisions of the Scheme. Chairman or in his absence the Executive Trustee shall have powers lo eonsmie the provisions of the Scheme in so far as such construction is not in uny innnner prejudicial or contrary to the basic structure of the Scheme and such decision shall be final and conclusive.

7. lU'liixiition/vtination/modification of provisions

Deleted as it is not permitted under SEBI Regulations.

Chairman or in his absence the Executive"Trustee of the Trust in order to mitigate hardships or for smooth and easy operation of the Scheme relnx. vary or modify any of the provisions of the Scheme ir"casc of any unit holder or class of unii holders upon such conditions as may be deemed expedient.
p,R, | I I _ S K C. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHMTRA 2, 1924) 1301
ANNr.XUKEIII

(;KANI)MASTEHUNITSCIIEMI:

INSERTIONS AS REQUIRED BY STANDARD OFFER DOCUMENT'

SR.

NO.

1.

Disclaimer clause:

The scheme particulars liavc been prepared in accordance with Securities and Exchange Hoard of India (Mutual Funds) Regulations, 1996, as amended till date, and filed with SEBI, mill the units offered fur public subscription have not been approved or disapproved by the SKBI, nor has the SEBI certified on the accuracy or adequacy of the Offer Document.

-)

Due Diligence Certificate ;

Inserted as per ilie standard oiler d o c u m e nt

Contents:

?•

T;ib|e 'Contents' inserted as per the standard offer document

4.

Termination of the scheme:

(i) The duration of Uic scheme is indefinite. The Trust may however, terminate and initiate steps to wind, it up under the following circumstances:

(n) on the happening of a|iy event which in the opinion of the Trust requires the scheme to be wound up. or

(b) if 75% of ihe member s pass a resolution that the scheme be wound up; or

(c) if the SIZI3I so directs m the interest of the member s of the scheme

(ii) Where the scheme is wound up in pursuance of sub clausc(i) above, the Trust shall give notice of the circumstances leading to the winding up of the scheme to SF.BI and in two daily newspapers having circuralion all over India and also in a vernacular newspaper circulating in Mumbai at least a week before the termination is effected.

(iii) On and from the date qf advertisement of the termination, the Trust shall

(a) cease to carry on any husiness activities in respectof the scheme.

(L>) cease to create and cancel units in the scheme,

(c) cease to issue and redeem units in the scheme.

(iv) The Board of Trustees shall call a meeting of the members to consider and pass necessary resolution by simple majority ol the members present and voting at the meeting for authorising the Trustees or. any other person to take steps for winding up of the scheme.

(v) (a) The Board of Trustees or the person authorised under sub clause (iv) shall dispose of the assets of the scheme in the best interest of the member s of the scheme.

(b) The prooceds of sale (iiade in pursuance of sub clause (v) (a) above, shall, in the first instance be 1 utilised towards discharge of such liabilities as are properly due under the scheme and after making appropriate provision ibr meeting the expenses connected with such winding up. the balance shall be paid to.uic member s in proportion to their respective interest in the assets of the scheme as on Ihe date whyn the decision for winding up was taken.

(vi) On completion of thy winding up. the Trust shall forward to the SfiBl and the unit holders a1.102 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC. 4 Grandmaster report on the winding up continuing particulars such as circumstances leading lo the winding up. the slops taken lor disposal ofassels ol'ihc scheme before winding up, expenses of the scheme for winding up. nei assets available lor distribution in ihe member and a certificate IVom the auditors of the scheme,

(vii) Notwithstanding anything contained hcrcinabove, the application of the provisions of SEBI (Mutual Funds) Regulations. 1W6 in respect of disclosures of half yearly reports and annual report shall continue until winding up is completed or the scheme ceases to exist.

(vii i) A f'lcr the receipt of the report referred to in item (vii) above, if the SEBJ is sati:,;, d that all measures lor winding up of the scheme have been completed, the scheme shall cease to exist.

(ix)The Trust shall pay the repurchase value as early as possible after the statement of account along with a request letter has been received by it and other procedural and operational formalities are complied with.

(x) In '-ase ol'NUI investors, repurchase proceeds will be remitted depending upon the souice of 1

iiV'ONlirient.

:

Fundamental Attributes

i

(a) ""Fundamental attributes" mean the following.

i. Type of scheme : Grandmaster Unit Scheme is an equity scheme made open ended with efleet from August 01. 1096.

ii. Investment objective: as provided under clause VII of this offer document,

iii. Terms of issue. provisions in this offer document in respect of repurchase and expenses .

(b) Any change in the fundamental attributes of the scheme will be carried out only if:

(i) the existing members are intimated by individual communication and (ii) an advertisement is given in English daily newspaper having circulation all over India and also ' in a Marathi newspaper, (iii) the members are given an option to exit at prevailing NAV without any exit load,

(cj The Hoard may from time to lime add to or otherwise amend this scheme and any amendment/addition thereof will be notified in the Official'Gazette as required in terms of section 21(4) of the UT1 Act 1961

(d) Any change/amendment/modificalion of the fundamental attributes of the scheme will be made with the prior approval of the SEBI. In respect of other changes/amendments/modifirations not being of fundamental nature and not affecting the interest of the investor adversely, SEBI will be kept informed.-

6, Table showing Corporate Investment in the Trust's schemes and the Trust's investments in these companies inserted as per the 'standard offer document'.

7, 1 nter-Scli emc Transfers

Transfer of investments from /to this scheme to/from another schemes/plans of the Trust shall be done only if-

a) such transfers are on spot basis and are at the prevailing market price for quoted instruments.

Explanation : "spot basis" shall have the same meaning as specified by the stock exchanges for spot transactions.

b) the securities so transferred are in conformity with the investment objective of the schemes/ plans lo which such transfers are made; and

c) iraiislcr of unlisted or unquoted investments from/to the scheme to/from another schemes/plansP*Rr HI—Si-.c 4| THE CiAZElTE OF INDIA, MARCH 23, 2002 (CHAlTRA 2, 1924) H03 Grandmastar of the I rust arc as per the policies laid down by the Board of Trustees of the Trust.

8.

Associate Transactions <£ Borrowings

1. The scheme shall not horrow except to meet temporary liquidity needs of the scheme for the purpnso.ol" repurchase/redemption of units or distribution of income, if any, to the member s. Provided thai the scheme shall not borrow more than 20% of the net asset of the scheme and the duration ol'such a borrowing shall not exceed a period of six months.

2. As per section 20 of the Unit Trust of India Act 1963 the Trust has the following borrowing powers:

(i) The Trust may borrow, whether hi India or outside India from any authority or person, not being Government or the Reserve Dank, against such security and on such terms and conditions as may be agreed upon.

(ii) The Trust may borrow money from the Reserve Bank-

la) repayable on demand or on the expiry of a fixed period not exceeding ninety days from the date on which the money is so borrowed, against stocks, funds and securities (other than immovable property) in which a trustee is authorised to invest trust money by any law for the time being in force in India;

'b) repayable on demand or within a period of eighteen months from the date on which the money is so borrowed, against the security of the bonds which the Trust may issue with the approval of the Central Government;

(e) on such terms and conditions and against the security of such other property of the Trust as may he specified in this behalf by the Reserve Bank for the purposes of any scheme other than the first miil scheme:

Provided that an\ amount borrowed under this clause and outstanding at any one time shall not excml-

{,]) live awes of rupees in respect of each such scheme: and

(b) ten v.rores of rupees in respect of all such schemes in the aggregate,

(iii) The bonds issued by the Trust under sub-section (ii) shall be guaranteed by the Central (iovcrnmer.:. us to the repayment of principal and the payment of interest at such rate as may be fixed by the Central Government at the time the bonds arc issued.

9. XXII. Vnliiiition of assets pcrtainipg }o tfyis scheme

(a) <,Hmied investments including those under lock-in period, if any. but except government securities are valued at the closing market rates on the valuation date and in its absence, at the latest available quote within a period of sixty days prior to the valuation date. If no quotes ore available for a period of sixty days prior to the valuation date, the same is treated as unquoted investment.

(b) Quoted government sepurities are valued at closing NSE market rates on the valuation date and in its absence the latest available quote within a period of seven days prior to the valuation date. If no quotes are available for a period of seven days prior to the valuation date the same are treated as unquoted government securities.

(c) In case of quoted debentures and bonds, the market rate, being cum-interest, the same is adjusted for the interest element, if any.

(d) Right entitlements for shares are valued at market rates, discounted for dividend element, wherever applicable.

(e) Unquoted preference shares/cumulative convertible preference shares are taken at cost.

(0 Unquoted equity shares are valued on fair valuation basis as determined by the Board of, mi THF GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART IH—SEC. 4 Grandmaster "I rustees from lime to time.

(.g) Unquoted debentures bonds and transferable notes are valued at yield to maturity , linked to the yield on (5OI Securities (yield curve) along with a mark up approved by the Board of Trustees.

(h) Unquoted warrants arc valued at the market rate of the underlying equity shares discounted for dividend element, if any, and reduced by the exercise price payable. In cases where the exercise price payable is higher than the value so derived, the value of warrants is taken as nil.

(i) i 'nquoted Government securities, if any. are valued at yield to maturity based on the prevailing interest rates.

(j) Convertible debentures and bonds where composite market quotations are not available, the convertible portion is valued at the market rate relevant to equity shares, discounted for dividend element, if any. The non-convertible portion if any, of such debentures and bonds is valued as in (g) above. Where terms of conversion are not specified in respect of the convertible portion, the same is taken at cost.

(k) Capital indexed bonds are valued on cost basis.

(1) Valuation policies for Moncv Market instruments :-

ti) Money Market instruments and other assets are taken at book value,

(ii) The money invested jn inter ba"nk call market is taken at cost.

(iii) The money invested in discount/interest earning instruments is valued at the yield at which the instrument was last traded. For this purpose the latest available quote within a period of two working days, prior to me valuation date is considered. When there are no quotes available in the last two working days, the instrument is valued at cost plus the difference between the face value and the cost: applied uniformly over the remaining maturity of the instrument.

(iv) Other money market instruments, including unquoted debentures are valued at cost plus the difference between the face value and cost, applied uniformly over the remaining maturity of the instrument.

However, notwithstanding anything contained in respect of clauses VII, XXII, XXIII & XXV the investment policies, determination of NAV and valuation of assets, fixation of repurchase price and frequency of disclosure of NAV, repurchase price and portfolio would be in accordance with the provisions of SEBI (MF) Rcgulations/Guidclincs/Dircctivcs issued by SEBI from time to time.

1

10.

Accounting Policies

I. Income recognition

(a) Dividend Income on listed equity shares is accrued on the ex-dividend date. Dividei ,1 income on unlisted equity shares and preference shares is accounted on receipt basis.

(b) Interest on investments and commitment charges is accounted for on accrual basis.

(c) Profit or loss on sale of investments is recognised on the trade dates on the basis of weighted average cost.

(d) Profit or loss and. premium on redemption of debenture/bonds are recognised on the due date.

(e) Underwriting commission is recognised as revenue on receipt basis when there is no devolvemcnt. In case of devolvemcnt. the full underwriting commission is reduced from the cost of such investments.

(f) l-'ront-end fee on investments in shares and debentures is reduced from the cost of such investments.
PART III—Si*. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1305 Grandmaster
(g) The difference between purchase price and the maturity value in respect of zero coupon bonds,

deep discount bonds and other long term discounted instruments is treated as income over the

remaining life of fhe instrument on YTM basis.

(h) Other income is accounted for on receipt basis.

2. Expenses

a. Expenses ore accounted for on accrual basis.

b. Certain common expenses incurred through Unit Scheme 1964. are allocated to the other

schemesas per the provisions of Sec 25 (4) oi'UTI Act 1963.

jnit Scheme 1964 which owns the fixed assets, recovers lease renl. on an approved basis, from

oiher schemes for their usage of the s"id assets.

3. Investments

a. Investments are stated at cost or written down cost.

b. In case of secondary market transactions investments are recognised on trnde dates,

c. Subscription to primary market issues is accounted as investments, on allotment.

d. Bonus/right entitlements are recognised on ex-bonus/ex,-right dates.

e. Investment viz.. debenture and bonds, are transferred to current assets on the redemption / due

dale,

f. The cost of investments include brokerage and service tax but does not include cost of stamps

which is charged to revenue.

4. Prqvijlmu and Depreciation:

(S\) Provisions ayainst \\\$ income considered doubtful:

Provision is made in respect of interest income remaining past due for two quarters or more.

Provision is mndt* in respect of dividend at the year end, where it remuins outstanding for more

than one year from the ex- dividend date.

(B^ Deprecation, in, the value of investments

(i) The aggregate value of investments as computed in accordance with clause XXII above is

compared to the aggregate cost of such investments and the resultant depreciation, if any, is

charged to General Reserve / Unit Premium Reserve. In case such aggregate value exceeds the

aggregate cost or the aggregate value as at the end of the previous year, the appreciation is added to

Unit Premium Reserve/ General Reserve to the extent depreciation was previously adjusted.

(ii) In cases where unquoted equity or preference shares were written off in the earlier years, the

cost of such investment is written back to its cost, as and when a quote or fair value is available,

(iii). Assets where interest is remaining past due for two quarters or more are classified as non

performing assets, Provision for such assets is made individually (as stated in the table below),

Such provisions ure not made for other perfbrminmissets of the same company.

Period for which asset Percentage of Provision
i xiv* THE GAZFTtE OF INDIA. MARCH 23. 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
Grandmastar

Remains non-perlorming

Secured Unsecured

Asset

Asset

Up lo two years

10%

10%

20%

100%

Exceeding two years

Bui up lo three years

30%

100%

Exceeding three years

Bui up to five years

50%

100%

Exceeding five years

(iv) Where principal repayment remains outstanding (i) for two quarters beyond the past due period in respect of the debt instruments with a balance maturity of not more than 3 years and (ii) for one year beyond the past due period in respect of debt instruments with a balance maturity of more than 3 years, provisions ore made for such outstanding instalments. The overall provision for such assets is limited to the percentage mentioned in the above table (up to 50% for secured and 100% for unsecured assets) or the amount in default whichever is higher.

Any subsequent instalments in such cases where the original default continues, are provided after 30 days from the respective due dates.

(v) In case of funding of interest by way of capitalisation of outstanding interest dues, the same is provided irrespective of fhe period of default.

(vi) Provisions for non performing assets arc charged to Unit Premium Reserve/General Reserve/ Revenue Account as the case may be.

(vii) Provisions made under paragraph 4(A) and 4(B) (iv) are written back on receipt or on restructuring of the assets. Provisions under 4(B) (v) arc written back on receipt basis.

5. Income Distribution :

(a) Provision for income distribution is made on unit capital at rates approved by the Board of Trustees from time to time.

6. Piiblicntiun of Financial Results:

The unaudited financial results as on 31st December will be published within 2 months and audited annual results as on 30th June will be published within six months of finalisation of accounts in one English daily nnd one Marathi daily.

11.

Tax Treatment of Investments

1. Residents/NRls/OCBs

i) Taxation of income; if any, and capital appreciation, If realised, under the schcmrwill be subject to prevalent lax laws. .

ii) Currently income. "If any. received by all categories of investors under all schemes/plans of thePART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2(X)2 (CHAITRA 2, 1924) 1307 Grandmaster Trust is totally free ironviax under section 10(33) of the Income Tax Act. 1961.

The scheme is required to pay an income distribution lax at the rate of 10% and surcharge of 10% thereon under Section 115R of Income T;ix Act, 1961 on the amount of income, if any, distributed by il, However, being open ended equity oriented fund, the scheme will not be subject to the said tax under, the said section up to 31" March, 2002. provided more than 50% of the total proceeds of the scheme are invested in equity shares of domestic companies.

iii) Currently, any long term capital gains arising out of investment in the scheme by residents and NRIs out of rupee originated or NRO funds will be subject to treatment indicated under sections 48 and 1 12 of the Income Tax Act. 1961. At present the investor is required to pay tax @ 20% on long term cnpital gains after factoring the benefit of the Cost Inflation Index. However, the capital gains accruing to-investments made through NRE accounts are not taxable.

iv) V;ilue of investment in units under the scheme is completely exempt from Wealth Tax.

v) The Gift Tax Act, 1958 has abolished the levy of Gift Tax in respect of units of the scheme are fully exempt from levy of Gift Tax.

2) Eligibility for Capital Gains Tax Exemption under Section 54EA

Investment of entire or part of net consideration arising out of transfer of long term capital assets in Grandmaster Unit Scheme will be eligible for capital gains tax exemption under Section 54EA of the Income Tax Act. 196| subject to repurchase of units only after three years from the date of acceptance of the application.

3) Eligibility for Capital Gains Tax Exemption under Section 54EB'of Income Tax Act, 1961 Investment of entire or part of capital gains arising from transfer of long term capital assets in the Grandmaster Unit Scheme will be eligible for capital gains lax exemption under section 54 EB of subject to repurchase of units only after seven years form the date of acceptance of application.

4) For Eligible Trusts

Units are approved securities under section 1 l(2)(b) of the Income Tax Act 1961 -Eligible Trusts investing in units will therefore, qualify for tax exemption in respect of income and corpus under sections 11 nnd 13 of the Income Tax Act, 196J.

12.

Constitution & Management of Unit Trust Of India

Constitution of UTI

Unit Trust of India was set up as a statutory body under Unit Trust of India Act, 1963, with a view to encouraging saving and investment and participation in the income, profits and gains accruing to the Trust from the acquisition, holding, management and disposal of securities. It started functioning with effect from 1st July, 1964.

Management of UTI

The Management of the affairs and business of the Trust are vested in the Board of Trustees with a full time Chairman appointed by the Government of India.

Besides the Board, there is a statutory Executive Committee comprising the Chairman and two other Trustees nominated by the Industrial Development Bank of India. This Committee is competent to deal with any matter within the competence of the Board.

Board of Trustees *

1. Shri P S Subramanyam Chairman, Unit Trust of India

2. Shri G P Munioppan Executive Director, RBI

3. Shri G P Gupta Chairman & Managing Director, IDBI

4. Shri N.S. Sekhsaria Managing Director, Gujarat Ambuja Cements Ltd.

63—509 GI/20011J0S THE GAZETITi OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—Sec. 4

Grandmasttr

? '-'hn I4;ijeiui>-ii P Chiti'lo Cliuileted Accountant

(\ l>r, Vjsliv;i!t;ilh V iJosni Uconumisi

7. Shri Vi KrisiinnjMurthy Chairman. L.I.C.

K. Siiri G
'). Sin i K C Chowdhary Chairman & Managing Director, Central Bank Of India

* The other current directorships of the Trustees are as follows:

1. Shri I* S Ssihrumanj am (I) Chairman & Director - The India Fund, (ii) Chairman & Director - Iiklin Cimv.ili Ftuid, (Hi) Chairman & Director - India Access Ltd. (iv) Chairman & Director - The litdki Publn: Sector Fund Ltd. (v) Chairman of Governing Council - UT1- Institute of Capital Markets, (vi) Chairman '& Director - UTi Investment Advisory Services Ltd. (vii) Chairman & Director - UTI Investor Services Ltd (viii) Chairman - UTl-Securities Exchange Ltd., (ix) Director- UTI \kmk LtJ. (x) Chairman & Director - Over-Thc-Counter Exchange of India (xi) Member - Life li'isnr;iiv.:c Corporation oflndia. (xii) Director - Discount & Finance Mouse of India Ltd. (xiii) Director - Securities Trading Corpn. oflndia Ltd.(xiv) Director - National Stock Exchange oflndia Lid (NV) Trustee - Indian Institute of Software Engineering.

2. Shri C, I* Gupta- (i) Chairman- Small Industries Development Bank oflndia, (ii) Director- P!K' India Fund (iii) Director- India Growth Fund, (iv) Director - Discount and Finance House of Indki Lui, (v) Director- Export-Import Dank oflndia. (vi) Director- Securities Trading Corpn. of India Lid., (vii) Director- Infrastructure Development Finance Co. of India Ltd., (viii) Director- indkin Aiilincs Lid. (ix) Director- IDBI Bank Ltd, (x) Director- National Stock Exchange oflndia Lkl. (\) Member- Life Insurance Corpn. oflndia, (xi) Member- General Insurance Corpn. oflndia (,\ii) Director- South Asia Regional Fund, (xiii) Chairman - South Asia Development Fund, (xiv) Council Member- Indian Institute of Bankers, (xv) Member- Bankers Training College (RBI), (xvi) Mciiiber- Association of Development Financing Institutions in Asia and the Pacific (xvii) Meinilw- institute of Banking Personnel Selection (xviii) Member- The Institute of Company SwcUiriiis of India

.1. Shri N S Hcklhsuria - (i) Director - Gruh Finance Ltd. (ii) Director- Radha Madhav Investments Ltti. (iii) Director - Home Trust Housing Finance Co. Ltd. (iv) Director- Anibuja Cement foundation (v) Director Ambuja Educational Institute

4. Sltri Rnjcntlrn P Chitnlc - (i) Director - Small Industries Development Bank of India, (ii) Director- National Securities Clearing Corporation Ltd (iii) Director - .1 M Capital Management Lid', (iv) Director - Zurich Asset Management Company (India) Ltd. (v) Director- India Index Services und Products Ltd. (vi) Director- Association of Leasing and Financial Services Companies (vii) Member - Executive Committee (Governing Board) of National Stock Exchange. (viii) Member - India Advisory Board of Bank of America NT & SA (ix) Member - Investment Committee. Life Insurance Corporation oflndia.

5. Shri V V Dcsai - Advisor - 1CICI Limited.

6. Shri G Krishnamurthy - (i) Chairman - LIC (International) EC, Bahrain (ii) Chairman - LIC Housing hrianc; Ltd. (iii) Director - General Insurance Corporation oflndia (iv) Director- Poysha Industrial Co.Ltd. (v) Chairman. Governing Board- National Insurance Academy (vi) Director- Noliona! Mousing Bank (vii) Director- UTI Bank Ltd. ^viii) Director - Discount & Finance House iOntliu (ix) Director- Kunindia Assurance Co. Ltd..Kenya (x) Director- ICICI Ltd. (xi) Chairman- r7ovcrning Body of Insurance Council

7,S(u.i <; G Vaidya- (|) Chairman- SBI Capital Markets Ltd. (ii) Cliairman- SBI Funds Mnn^emenl Ltd.. (iii) Chairman - SBI Gilts Ltd., (iv) Chairman - SBI Securities Ltd., (v)r,..,.. ITT c^ JI T HP r.AZ.RTTK OF INDIA. MARCH 23, 2(iO2 (CHAITKA 2. WAi 1309 Pirar?c nasfd Chairman - SBI Factors & Coininercial Services Ltd.. (vi) Chairman - SBI European Bonk Ltd., 1 (vii) Chairman - Slate Bank of Indore. (viii) Chairman - Slate Bank of Saurushtra, (ix) Chairman - Stale Bank of Puliala, (x) Chairman •• Stale Dank of Bikaner & Jaipur. (xi) Cliairman - Stale Bank of Hyderabad, (xii) Chairman - State Bank of Mysore, (xiii) Chairman - SIDIC Bank of Travancorc. (xiv) Chairman - State Bank of India (California), (xv) Chairman -• Stale Uank of India (Canada), (xvi) Vice President of the Governing Council - Indian Institute of Bankers, (xvji) Director- National Bank for Agriculture and Rural Development , (xviii) Director - Export- Import Bank of India, (xrx) Director- General Insurance Corporation, (xx) Member of the Governing Board & Chairman of Finance Committee- National Institute of Bank Management', (xxi) Member of the Governing Board. Chairman of the Finance Committee & Office Premises Committee & Commitiee of Administrators of IBPS Employees Pro. Fund, - Institute of Banking Personnel Selection (xxii) Member- Institute for Developing & Research in Banking Technology, (xxiii) Director- Infrastructure Development Finance Corporation , (xxiv) Director- Infnstructure Leasi;:(; &. Financial Services Ltd. , (xxv) Director- Export Credit Guarantee Corporation.

8. Sliri K C Chowdhiiry - (i) Chairman - Small Group on Bank Audit, Indian Banks' Association (ii) Chairman- Banking Operations. Indian Bunks' Association, (iiij Chairman - Small Group on Credil Related Matters, Indian Banks' Association (iv) Chairman - IDA Working Group for- Interaction with Trade Bodies/Associations, (v) President - Indian Banks' Association, Local Chapter, (vi) Member - Managing Committee, Indian Banks' Association, ^'iij Chairman - Cenibank Home Finance Ltd., (viii) Chairman - Centbank Financial &. Custodial Services Ltd., (ix) Director - Agricultural Finance Corpn, of India, (x) Director - Mastercard Asia/Pacific Board. (;\i) Director - The New India Assurance Co. Ltd.,(xii) Member •• 1;jsk Force. Indian Banks" Association.

13.

Miinugement of the Fund-:

Name of the fund manager aiony with his qualifications and experience inserted.

| 14.

Custodians

Following is inserted as required by SEB1,

The SEBI registration number of SHCIL is IN/CUS/01 i

Tariff Structure of SHCIL is as under:

Electronic

Physical

Rs.5 per certificate

Demaierialisalion

Purchase

5.5. basis points on Rs.lOOperDIP

The value of the

Transaction

Sale

5.5 basis points on Rs. lOOperDlS

The value of the

Transaction

Custody

1.5 basis points on 8 basis points

The asset value in on the asset

The custod)

value in the

Cus'.ody

Off market

5.5 basis points on

Pin chases

Lhe value of the1310 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

Gmndma&tQr

1 ransaclioii

Off market

5.5 basis points on

Sales

the value of the

Transaction

Rcmaicrialfsaiion

Rs. 15 per certificate

Or 15 basis points of

Conversion value

Whichever is higher

15.

A nditors

M/s. Chaturvech & Company. Chartered Accountants, 60, Bentik Street. Calcutta 700 069 and M/s Batliboi & I'urohiL Chartered Accountants. National Insurance Building. 204. D N Road, Fort. Mumbai 400 001. The auditors of the scheme are appointed by the 1DBI and they are subject to change from your to year.

16. Tnhlc showing Investors' Grievance Rcdrcssal data inserted

17. PENALTIES. PENDING LITIGATIONS, MATERIAL FINDINGS OF INSPECTIONS/ INVESTIGATIONS

1. There arc no cases relating to penalties awarded by SEBI under the SEBI Act or any of its regulations or hy any Slock Exchanges (where the units of the schemes of the Trust are listed) against the Unit Trusl of India/Board of Trustees, or any of the Trustees or key personnel (specifically the fund managers),

2. There arc no pending material litigation proceedings incidental to the business of the Unit Trust of India including the Board of Trustees or any of the trustees or key personnel. There are no pending criminal cases against the Unit Trust of India, Board of Trustees or any of the Trustees or key personnel.

3. Neither SEBI nor any other Regulatory Agency has specifically advised that any deficiency in the systems and operations of the Unit Trust of India be disclosed in the offer document.

4. There are no enquiry/adjudication proceedings under the SEBI Act and the Regulations made thereunder, against Unit Trust of India. Board of Trustees/Trustee.or key personnel.

Table giving condensed financial information inserted

18.
1311 PAR1 M - S E T. 4] THE GAZETTE OF INDIA, MARCH^jOO^CHATTRA 2, 1924^
ANNEXURCI

L!GS 10000- PROVISIONS MODIFIED/INSERTED

Existing provisions

Amended provisions

Clause No.

Highlights

3rd item

5th item - Sale and repurchase will be based on the NAY as at the close of the day on which the application is accepted. Sale will be at 3% load to NAV.

Sales attcr initial offer period will be at 3% load to slAV and Repurchase will be at NAV.

6th item - Repurchase will be at NAV. Partial repurchase permitted subject to a minimum balance of Rs.5000/- per folio.

Highlights

5th item

Tax benefits U/S 48 &L 112 of Income Tax Act, 1961 on capital appreciation.

10th item - Capital gains arising from capital appreciation, if any, on repurchase of units is subject to tax benefits under sections 48 & 112 of Income Tax Aci. 1961.

Highlights

th item

11th item - Investment eligible for availing of capital gains tax exemption under sections 54EA and 54EB of the Income Tax Act, 1961. depending upon the source of fund, subject to repurchase of units only after lock-in-period of three/seven years respectively from the date of acceptance of the application.

Capital gains tax exemption under sections 54 EA/54 EB of the Income Tax Act. 1961 subject to lock-in for three/seven years respectively from the date of acceptance.

Following inserted:

Item not included

Highlights

3rd Item - Minimum investment is Rs*5000/- with no maximum limit. For subsequent investments under the same folio the minimum investment is Rs.1000/-.

4th item - The face value of a unit is Rs.10/-.

7th item - Facility to reinvest the income, if any, will be available at NAV.

8th Item - Switchover facility from the scheme to such other schemes which may be announced by the Trust from time to time or vice versa at NAV or NAV based price.

9th Item- Currently Income Distribution, if any by the scheme is totally tax free in the hands of investors under sectionlO(33) of Income Tax Act 1961. Further, being an open end equity oriented fund it will not be subject to Income Distribution tax for a period up to 31" March, 2002 under section 115R of the Income Tax Act 1961.

12th item - Value of investment in units under the scheme is completely exempt from Wealth Tax.

13th item - The Gift Tax Act, 1958 has abolished the levy of Gift Tax in respect of gifts made on or after 1st October 1998. Thus, gifts of units of the scheme are fully exempt from levy of Gift Tax.

Investments in- units of the scheme are subject to

Mutual Funds and securities investments are subject to market risks and the NAV of the units issued under the scheme may go Risk FactorsTHE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2. 1924) [PART WSac. 4 1312 '1st¹ item

up or down depending on the factors and forces affecting the i capital markets.

market risks and ilie NAV of the Scheme may go up or down depending on the influence of market forces on the Scheme's portfolio.

•^lot provided for

Risk Factors

4th item - Derivatives: Trading in derivative securities like options & futures is a highly specialised activity and entails greater risk than ordinary investment. Even though the scheme intends to use the activity of trading in derivatives only for portfolio hedging purposes, the overall market in these segments could be highly speculative due to the actions of the other participants in this market. The success of trading in derivatives depends upon the ability of the fund manager in predicting the future movement of the market and if the fund manager is incorrect in their prediction the performance of the fund could diminish compared to what it would have been if this investment strategy had not been used.

5th item • Investment in overseas market: The success of investment in overseas market depends upon the ability of the fund manager in understanding of those market conditions & analysing the information, which could be different from Indian markets. As this would involve operations in foreign markets there could btKxchange rate fluctuations risk besides market risk.

6th item • Stock Lending: ll is one of the means of earning additional income for the scheme with least risk. The risk could be in the form of non-availability of ready stock for sale during the period the stocks remain lenl. The scheme would be exposed to risk through stock lending activity through the possibility of default by the borrower / intermediary in returning the lent securities. However, the risk would be adequately covered by taking in of suitable collateral from the borrower by the intermediary involved in the process. The Trust will have a lien on the collateral. The Trust will also have other suitable checks and controls at various places to minimise any risk involved in the securities lending process.

Refer item 9 of Annexure III

The existing information will be replaced by the information given under item 9 of Annexurelll.

Constitution & Management of UTI, Otber Directorsh ips of the Trustees

Definitions

H(a)

"Acceptance date" with reference to an application made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the branch office of the Trust, after being satisfied that such application is complete in all respects, accepts the same. The acceptance date in respect of sale and repurchase applications received at the franchise "Acceptance date" with reference to an application made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the TrusiPART I I I - S L C. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) ^ ^ 13113 ifter bemj: satisfied thai such application is in order, i accepts the same. i

¹

Definitions

1 •

II (ea)

11 (ha) Definitions II (hb) "RBI" means the Reserve Bank of India constituted under the No provisions exist Reserve Bank of India Act, 1934.

A resident or non-resident a resident individual or a NRI either singly or jointly with Application another or up to two other individuals on a joint / anyone or adult individual singly or for Units survivor basis. with another individual on IV (1)0) joint / either or survivor basis.

No provisions existed for (xi) an Army / Navy / AirForcc / Paramilitary fund, Application (xii) n Public Sector Undertaking (PS1J). all categories of intended for Units (xiii) Financial Institution investors IV(1) (xiv) a Foreign Institutional Investor (FII) registered with SEBI

Application shall be made for a minimum of Rs.5000/-. There is Minimum Application shall be made no maximum limit and units will be allotted up to three decimal amount of for minimum of Rs. 5000 places. For subsequent investment under the same folio the investment and thereafter in multiple of V Rs. 1000/-. Maximum limit minimum investment is Rs. 1000/-. In case of investment of for investment per investor Rs.50,000/- and above, the resident or a NRI investing out of is Rs. 10,000/-. When the non-resident ordinary account is advised to furnish Income Tax units are open for the sale P.A.N./G.I.R. number and I.T. Circle address if he/she is havinp after the initial offer period so. this could be relaxed. Units will be allotted in fractions upto three places after the decimal.

(a) The payment for units by an applicant shall be made by him (1) (i) The payment for the Mode ol along with the application in cash, cheque or draft. When units applied for by an Payment applications are submitted at branch offices of the Trust, applicant shall be made by VIII (1) (i) cheques or drafts should be drawn on branches of banks within him along with the &(H) the city/town where the branch office of the Trust at which the application in cash, application is tendered is situated. cheque or draft. Where applications are submitted (b) If the payment is made by a cheque/draft, the acceptance of an at the branch offices of the application will be subject to such cheque/draft being realised. Trust, cheques or drafts (c) If, the application amount is less than the minimum should be drawn on investment under the scheme, the entire amount shall be branches of banks within refunded to the applicant at his cost in such manner as the Trust the city where the branch

1314 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PAKT III—SEC. 4
mav deem fit.

(d) NRls should submit their applications preferably at the NRI Branch, Mumbai or at any of the Branches of the Trusi along with NR(E) / NR(O) cheque or a rupee draft payable at the place where the application is submitted.

ofrice ai which the application is tendered is siluated. Provided however that the applicant who wishes to apply for units from a place other than where the Trust has its branch office/collection centre /franchise office/ designated branch of a bank may do so by sending the application to the branch office of the Trust along with the bank draft for number of units applied for after deducting therefrom charges payable for bank draft as per the guidelines of the Indian Banks Association. The collection centres/franchise offices arc authorised to accept applications along with cheque payable locally or demand draft payable at places up to which the scheme is decentralised in which case the applicant may deduct charges as per the guidelines of Indian Banks Association, e.g. if the application amount is Rs. 10,000/- the bank draft charges for this amount is Rs.20/-. Thus the draft can be prepared for Rs.9,980/-( i.e. Rs..l 0,000/-less Rs.20/- ). The draft commission charges will form a part of the initial issue expenses of the Scheme.

However, in case of

applications received along

with local bank draft where

UTI has its branch

office/collection centre/

franchise office bank draft

commission will have to be

borne by the investor.

(ii)If the payment is made by cheque , the acceptance &*&. ^U, SuJbpct t SudLn l5 PART III—SEC 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) l cheque being realised, be the date on which the application is received by the branch office of the Trust or authorised colection centre. ]

[f 'payment is made by a draft, the acceptance date will, subject to such draft being realised, be Hie date on which the application is received by the branch office or the authorised collection centre of the Trust. If the amount tendered by way of payment is not sufficient to cover the amount payable under the scheme, the applicant shall be issued such lower number of units subject to the minimum as could be issued under the scheme, the balance due to him shall be refunded at his cost in such manner as the Trust may deem fit.

iii) Mode of Investment

with repatriation benefits

iii) Mode or payment for NRJ investment with repatriation

benefits

Mode of

payment

VIII (1)

(Hi) & (iv)

The investments by NRIs/OCBs shall cany the right of

repatriation of capital invested and income earned thereo-* and

capital appreciation so long as the investor continue i

resident outside India, Investment in these cases can b' iilt

through one of the following modes:

(a) By a draft in rupees issued in favour of the Trust by a

bank/exchange house operating outside India drawn on their

Indian correspondent banks,

(b) By a cheque drawn on the investor's NRE account

maintained with a bank in India,

The investment by

NRIs/OCBs shall carry the

right of repatriation of

capital invested and income

earned thereon and capital

appreciation (if applicable),

as long as the investor

continues to be resident

outside India. Investment

in these cases can be made

through one of the

following modes:

(c) By a cheque/draft issued from the proceeds of FCNR

deposits of the investor.

(a) Draft in foreign

Note: Payment in Nepalese and Bhutanese currencies are not

accepted.

currency

iv) Mode of payment for NRI investment without

repatriation benefits

(b) Draft in rupees

issued in favour of UTI

drawn on their Indian

correspondent banks.

a) Where funds held in NRO accounts are utilised for purchase

of units, the funds so invested and capital appreciation (if

64—S(W GI/2001n If, THH GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 1" i

1

(c) B) cheque drawn on investor's NRE account I maintained with a Bank in India.

i

any), will not qualify for repatriation out of India. Similarly, investments in units purchased in rupees while the investor was a resident of India and becomes non-resident subsequently will not qualify for repatriation of sale proceeds of units.

(d) By cheque/draft issued from the proceeds of FCNR deposits.

b) As per RBI circular A.D.flvLA. Series) No. 18 dated August 19, 1994 the entire income distribution earned thereon during the financial year 1996-97 and onwards will qualify for full repatriation. In such cases the Trust will make payment in Rupees for credit to NRO A/C. Investors are advised to contact their banks/tax consultants if they desire remittance abroad of the income distribution on units.

Further, payment in Nepaiesc and Bhutanese currencies are not accepted. Investment in units is made in rupees, all foreign currency drafts , are converted into Indian rupees at the rate of ex- change ruling at the time of such conversion. Shortfall, if any, will have to be remitted by NR1 investors.

In view of the above it is advisable that NRJ/OCB investors make payment by instruments mentioned at (b) & (c) above.

iv) Mode of investment

without repatriation

benefits

Where funds held in NRO accounts are utilised for purchase of units, the funds so invested and capital appreciation (if applicable) will not qualify for repatriation out of India.

However as per RBI circular A.D. (M.A.Series) No. 18 dated August 19, 1994 the entire income earned during the financial year 1996-97 and onwards will qualify for full repatriation.

While in such cases UTI will make payment in1317 PART H I - S E C. 4] THE GAZETTE OF INDIA, MARCH 2^)02jCHAITRA2_1924^ rupees for credit in NRO A/C, investors are advised o contact their banks/ tax consultants if they desire remittance of income on units.

Mo provisions exist

Investment by FIIs should be through payment by debit to the Special Non-Resident Rupee Account maintained' with a designated bank / authorised dealer, approved by RBI.

Mode of

Payment

by FIIs

VIII (v)

the application is received less than the minimum investment of Rs. 5000/-

The application is received less than the minimum investment of Rs. 5000/- and Rs. 1000/- in respect of initial investment and subsequent investment per folio thereafter respectively.

Right of

the Trust

to accept

or reject

application

VIII (2)

(a) 0)

the Trust will be liable to be rejected, to accept or reject application VIII (2) (a)(lv)

Mode of The Trust shall have the The Trust shall have the right in such an event to repurchase the Payment units at par or^NAV whichever is lower after deduction of 25% right in such an event to as penalty or at such price as may be decided by the Trust and repurchase the units at par VIII (3) return the balance. after deduction of 25% as 2nd last penalty or at such price as paragraph may be decided by the Trust and return the balance.

Sale of The initial preferential offer a) The fund shall be open for sale and repurchase from the first Units of units under the scheme Monday of the month to the immediately succeeding Monday shall remain open from or for any other period as may be decided by the Trust form IX April 15, 1998 to May 29 time to time Applications will be accepted at the branch offices 1998 (both days inclusive) of the Trust only on days which are working for the concerned The fund shall be open for office. The sale price of units will be at a load of 3% to the sale from the first Monday NAV as at the close of the day on which the application is of the month to the accepted. The contract for sale of units by the Trust shall be immediately succeeding deemed to have been concluded on the acceptance date. On Monday or for any other such conclusion of the contract for sale, the Trust shall as soon period as may be decidec thereafter as possible, issue to the applicant statement of by the Trust form time to account. A statement of account issued by the Trust to the time Applications will be eligible institution , firm or body corporate shall be made out in accepted at UTI branch the name of eligible institution/firm/body corporate. The Trust offices only on days which shall not incur any liability for loss, damage, misdelivery or are working days for the non-delivery of the statement of account so sent.

i ! i u THF r.AZF'TTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) [PARI III—SKC. 4
concerned office i b) In respect oi all applications for sale repurchase received and accepted at the branch offices of the Trust or received at Registrar's office (please see 11 (a)) by 2 p.m. on a particular day the applicable NAV will be that of the same day. All applications received and accepted after 2 p.m. will be governed by the NAV of the next working day,

c) Non - individual applications along with required documents will be accepted only at the offices of the Trust.

d) The Trust shall send the statement of account not later than 6 weeks from the date of acceptance of application.

i

Sale price of units during the initial offer period shall be at par. Thereafter sales will be at a load of 3% to the daily NAV. The contract for sale of units by the Trust shall be deemed to have been concluded on the acceptance date. On such conclusion of the contract for sale, the Trust shall as soon as thereafter as possible, issue to the applicant a Unit Certificate evidencing that he has been admitted as a unit holder in the scheme. A Unit Certificate issued by the Trust to the eligible trust, firm or body corporate shall be made out in the name of the eligible trust/firm/body corporate. The Trust shall not incur any liability for loss, damage , misdelivery or non-delivery of the Unit Certificate so sent. The Trust shall send the Unit Certificate within 6 weeks form the date of closure -of the initial offer of units or within 6 weeks form the acceptance date as the case may be.

Repurchase of Units

Repurchase will be effected on receipt of the repurchase request slip in the Composite Services Form (CSF)/ unit certificate duly discharged.

X(3)

Repurchase shall be effected on reccipf of the unit certificate duly discharged.

Repurchase of Units X(6)

Partial repurchase shall be permitted subject to the member maintaining a minimum balance of Rs, 5000 per folio to be computed at the repurchase price applicable as on the date of acceptance of repurchase application.

Partial repurchase shall be permitted subject to the unit holder maintaining a minimum balance of Rs. 5000/- (face value).

No provisions exists

Repurchase of Units Clause

In the case of FIIs, repurchase proceeds will be credited to the Special Non-Resident Rupee Account or as pel" instructions issued by SEBI /RBI from time to time.

X(9)

Switchover No provisions exists

i) Members under the scheme will be permitted to switchover their investment from the scheme to such other schemes or1 3 10 P*K. I I I - SB . 41 THE GAZETTE OF INDIA, MARCH 23, 201)2 (CHAITRAJ^_1924)_ XII.

i

1

vice versa winch may be allowed by tin- Trust trom time to time. In such a case they may apply for the switchover by submitting their request in the prescribed CSF/duly signed unit certificate, if any.

i i

ii) The switchover will be effected at NAV or NAY based

price as may be decided by the Trust.

iii) Partial switchover from the scheme to such other schemes

or vice versa which may be announced by the Trust from

time to lime should satisfy the condition of holding

minimum investment limit under both the schemes. The

Trust shall retain the unit certificate, if any, for cancellation

and the member shall be issued fresh statement of account

of both the schemes.

iv) Investment made in the scheme for the purpose of availing

benefits under section 54EA/54EB of the Income Tax Act

1961 shall not be permitted to be switched over before the

expiry of the lock-in-period of 3 and 7 years respectively.

XIIl.The Trust shall, after determining the sale and repurchase

The Trust shall as early as

price issue it daily to the press for publication.

possible after determining

the sale and repurchase

Publication

of sale and

repurchase

price

price issue it to the press

for publication.

XII

XIV. Statement of account

The existing provisions

Statement

under Clause XIII ( Form

of Account

1) For units sold on 23.02.2000 and thereafter the Trust shall

of Unit Certificate ) and

issue a statement of account , with an assigned folio no. not

A New

Clause XV ( Procedure

later than 6 weeks from the date of acceptance of application.

Clause To

when the Unit Certificate is

be

2) Every member will receive an updated statement of account

mutilated defaced lost etc.)

incorporat

under the folio each time any additional purchase or partial

will be replaced by the

ed as

repurchase or switchover or transfer of the units pursuant to

provisions given under the

Clause

clause XXIV (a ) & XXIV (b) below is made by the member ]

New Clause XIV titled

XIII

under the folio.

1 "Statement of Account"

3) The NRI investor may choose any one of the following

modes of despatch of statement of account

(i) At the applicant's Indian/foreign address OR

(ii) At the address of the NRI applicant's relative in India.

4) In case of Flls, the statement o-f account will be sent to their

global custodians or at the address furnished in the application.

5) If the member so desires, a unit certificate will be issued to

him within six weeKs of the receipt of request to issue the

certificate in lieu of the statement of account.

6) Both unit certificate and statement of account are valid

evidence of admission of the investor into the scheme.

XV Exchange of Statement of account/unit certificate when
• - " •" T UP (-.AWTTF OF TNDJA. M A R CH 2 3. 2 0 02 ( C H A I T RA 2, 1 9 2 4) [PART I I I —S E C. 4
l it is mutilated, defaced, lost etc.:

In such cases a statement of account will be issued based on a simple request.

Not existing

The above provisions shall apply mutatis mutandis to units covered by 'Statement of Account' and "Members

Register of unit holders XVI-(6)

i)Nomination facility is available only for individuals applying on their own behalf i.e. singly or jointly up to two.

ii) Only one person can be nominated,

Nomination facility is available only for individuals applying on their own behalf

Nomination by unit holder xvin

iii) Minors including a NRI minor can be nominated.

iv) Nomination of NRIs is subject requirements of the RBI prescribed form time to time.

v) Nomination can be changed at any time during the currency of the investment.

i.e. singly or jointly unto two. Applicants can nominate one person. Minors and Non-Resident Indians can also be nominated. Applicant can change the nomination at any time during the currency of the scheme.

vi) Applicant being either parent or lawful guardian on behalf of a minor, an eligible institution, societies, bodies corporate, HUF and partnership firms and shall have no right to make nomination.

vii) Other provisions will be to the extent provided in the regulations.

Provided further that person applying on behalf of minors, Hindu Undivided Families. Partnership Firms, eligible trusts , societies and bodies corporate cannot nominate.

viii) The facility of the statutory nomination is available to a member under Section 39A of the Unit Trust of India Act, 1963. Accordingly, where a nomination in respect of any unit has been made in accordance with the UTI General Regulations, 1964, the unit shall, on the death of the member(s), vest in the nominee and the nominee shall be issued a statement of account in respect of the unit so vested subject to any right, title, claim or other interest of any other person to or in respect of the said units as provided in such regulations and subject to any charge or encumbrance over the said units. Transmission made by the Trust as aforesaid shall be a full discharge to the Trust form all liability in respect of the said units.

2)The Registrars subject to such directions and provisions of the Scheme may for time to time issue and subject to Sub-Clause (i)hercinabovc, shall accept u nomination in the forms prescribed and register the same. They may also subject to such directions permit the variation, modification or changes in such nominations and have them registered.

Other provisions will be to the extent provided in the regulations. "

Death of a unit holder XIX (1) -

In the case of death of the first holder in a joint holding of units the second named unit holder shall be recognised by the Trust as having title to or interest in the units represented by the scheme and in the case of the deaths of two of the holders, the surviving holder shall be recognised by the Trust as having title In the case of death of the first holder in a joint holding of units the second named unit holder shall be recognised by the Trust asPAH. ill—Src- 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1321

1st para

to or interest in iht: units represented by the scheme

having title 10 or interest in the units represented by the scheme.

a) Although growth is the objective of the scheme, the scheme

may make income distribution from time to time,

Income Distribution XX

a) No income shall normally be distributed under the scheme. Growth shall be reflected in the Net Asset Value. However, the Trust reserves the right to distribute income in future.

b) Such of the members whose names appear in the register of members as at the close of registers prior to the declaration of income distribution by the scheme shall be entitled to' receive the income so distributed under the scheme.

3) For income distribution when made, the investor will have two options.

c) The income distributed by the scheme shall be paid through ECS, wherever such facility is available or by a cheque or warrant encashable at the branches of such bank/s as the Trust may specify under pre-payment arrangements with the bank/s.

(i) Income Option : Income distribution declared under the scheme will be distributed to the unit holders.

d) In case of declaration of income distribution, the lncomr, Distribution Warrants shall be despatched within 42 day. from the date of declaration of the income distribution.

c) Reinvestment of income distributed:

(ii) Reinvestment Option:

The member may opt for reinvestment of income, if any, declared by the scheme in further units. In the event of an exercise of such an option the whole of the income on his unitholding , after deduction of tax. if any. instead of being paid to the member in the manner provided in Clause (d) hereinabovc shall be reinvested in further units of the scheme at NAV and credited to his folio. A fresh statement of account will be issued pursuant to such crediting.

f. Bank narticulars of investors & Elec^ronjjc Clearing Service;

Under the reinvestment option the income distribution declared would be reinvested in units of the scheme at the rate as may be decided by the Trust. Units will be allotted in fractions up to three places after the decimal. Accordingly, a Statement of Accounts would be dispatched to the unit holder informing the unit holding position.

c) Income distribution warrants shall be dispatched to unit holders within 42 days from the date of declaration of income distribution.

(i) In order to avoid fraudulent encashment of Income Distribution Warrants/Repurchase cheques/Maturity cheques, SEBI has made it mandatory for investors, in their own interest to give bank particulars at the appropriate place in the application form. Applications without bank particulars will be rejected. Accordingly, applicants in the eleven cities who do not avail of the above facility as also those residing outside the cities given at (i)(b) below are requested to give the full particulars of their bank account (i.e. nature of account, account number and name of bank) at the appropriate space in the application form as well as on the acknowledgment receipt portion for record. Income Distribution.Warrants/repurchase cheques will then be made out in the name of the member with the bank particulars for crediting the member 's account so specified and sent to them.

d)Such of the unit holders whose name appear in the Register as at the close of registers prior to the declaration of income distribution by the scheme shall be entitled to retain the income so distributed.

(ii) Currently ECS facility is being made available to investors from Mumbai/Calcutta/ Chennoi/Ncw Delhi/ AhmedabaqV e) The income distributed1322 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 direct credit to their bank accounts at the respective centres and where the amount of single instrument docs noi exceed Rs.5.00.000/-. The investor will be given a statement giving details of credit to his bank account.

shall be paid by the Unit 1 Growth Scheme'10000 by cheque or income distribmion warrant drawn on its bankers or through ECS.

Rank particulars of investors :

(in) The bank branch of the investor will credit the his account and indicate the credit entry with "ECS" in the passbook/statement of bank account. The applicant who desires to avail of this facility is requested to fill up the particulars of name and address of his bank, nature and number of account, 9 digit Bank and branch M1CR code no. etc. in the application form,

(iv) In case the number of investors from aforesaid cities are not sufficient enough or for any other reasons, the Trust may pay the income by issue of income warrants carrying bank account details instead of paying income through "ECS".

2) Income Distribution fo NRI/OCBs investors

Income distribution to NRI/OCBs investors shall be made as per the Exchange Control Regulations. The present position regarding payment of income is as follows:

It is mandatory for the investor to give at the appropriate place in the application form, full particulars of his bnnk account such as nature of the account, account number and name of the investor with his bank particulars and sent to him for crediting to his bank- account so specified.

i) The warrant can be issued in the name of the member and sent to a relative who is resident in India for crediting the NRE/NRO account of the member, as the case may be.

OR

Any applications without Bank particulars will not be accepted.

Electronic Clearing

Service:

iiYThe warrant can be issued in the name of a relative who is resident-in India and sent to him for being credited to his account.

(0 ECS facility is also available to NRI investors who have their own bank accounts in Mumbai. For those NRI investors who wish to credit the income distribution to their resident relative's account, ECS facility could be extended to them at places as indicated above.

Reserve Bank of India has introduced the concept of Electronic Clearing Services (ECS) to obviate the need for issuing and handling paper instruments and thereby facilitating improved customer service. As per the guidelines issued by RBI in this regard, an investor is required to give his mandate for ECS as per the format given in the application form with all details completed therein. This will help the Trust to credit the incdme amount to investor's account with the concerned bank.

The applicant who desires to avail of this facility may fill up the particulars of name and number ofPAKT in—SEC. 41 THE GAZETTE OF INDIA, MARCH 23T 2002 (CHA1TRA 2, 1924) 1323 account . 9 di
I

I It is however not compulsory to avail of this facility.

i

;

]

i In case the response to this facility is not sufficient enough to handle or for an> other reasons, the Trust may pay the income by issue of income distribution warrant as mentioned above, instead of paying income through "ECS".

Refer item 6 of Annexure 111.

The existing provisions will be replaced by the provisions given under item 6 of AnnexureM.

Valuation of assets pertaining to this scheme

XXI

Computati on and disclosure of Net Asset Value (NAV)

XXII

The Net Asset value of the units issued under the scheme shall ' be calculated by determining the value of the scheme's assets and subtracting the liabilities of the scheme taking into consideration the accruals and provisions. The Net Asset Value per unit shall be calculated by dividing the NAV of the units under the scheme by the total number* of units issued and outstanding on that date. The NAV shall be issued to the press for publication daily. The Trust has commenced declaration of prospective NAV from November 29, 1999 after due notice being given through a Press release,

i

i The Net Asset value pi the units issued under the scheme shall be calculated by determining the value of the scheme's assets and subtracting the liabilities of the scheme taking into consideration the accruals and provisions, The Net Asset Value per unit shall be calculated by dividing the NAV of the units under the scheme by the total number of units issued and outstanding on that date. This NAV (on historic basis) shall be issued to the press for publication six months from the commencement of the scheme i.e. on 2nd November '98 and at intervals not exceeding one week thereafter,

J

The NAV (historic ) shall be computed on a daily basis from May 1999. At a later date the Trust may decide to switchover to

f o ~ - 5 (W Cil/2(n)lH24 THE f.V/fTTE Of INDIA, M \KCH ?.l, 2f)O2 ICHAITRA 2, I Wi |PAPT III—SEC 4 1 . 1

prospective NA\ f'i" whicii • a no'ice will Im iMven i through u 1'rcss releuse. i

1 he following semsnee IO be added ai the end of clause XXIII

i

"The above provisions shall apply mutatis mutandis to units covered by 'Statement of Account¹ and 'Members'. "

i

Trust not to be admitted and recognised for the purpote of the scheme XXIII

Transfer/

u) All units issued under the scheme and outstanding are not transferable with effect from 23.02.2000

Pledge/

Transfer facility - unite issued pursuant to this offer document

TransfvT.'Piedgc/Assignmeji 1 t of urils shall be allowed under ihc scheme after six months from the closure of j the initial offer period.

Assignment of units XXIV

All units issued under the Scheme and outstanding arc freely transferable subject to the following terms:

Suhject to the following exception, units under the statement of account to be issued to the member is not transferable . Since the scheme is an interval fund units are ovailable for sale/repurchase on a regular basis at NAV based price/NAV. However, if a person becomes a holder of units by operation of law or upoh enforcement of n pledge (as given in ' c' below) or due to death , insolvency or winding up of a joint holder then subject to production of such evidence which in the opinion of the Trust will effect the transfer if the intended transferee is otherwise eligible to hold units.

b) Pltdgc/Msignment of units:

The member may pledge/assign units in favour of banks / other financial institutions as a security for raising loans. Units can be pledged by completing the requisite forms/formalities as may be required by the Trust.

(a) The unit certificate issued in accordance with the provisions of the scheme is negotiable and can be transferred to the individuals, expressed and such other categories as are mentioned in Clause IV of the provisions of the Scheme.

Th" Trust will record a pledge/charge /lien against units pledged. The pledger may not redeem units so pledged until the bank/financial institutions to which the units are pledged provides the written authorisation to the Trust that the pledge bank/financial institutions will have complete -authority to redeem such units.

The acceptance of the Transfer Deed and the admittance of the transferee as a unit holder under the scheme will be at the sole discretion of the Trust

(b) Transfers may be effected only by and between transferors and transferees who arc capable of holding units. The Scheme shall not be bound to recognize any other transfer.

(c) Transfer instruments with the relative unit cer- tificates accompanied by such fee as rrui\ bi- j prescribed from linn: to time by the Scheme shall be lodged with any of the offices of the Registrars appointed for the purpose.

(d) Any transfer deed lodged with or accepted by any of the offices of the Trust shall be forwarded to the nearest office of the Registrars.

(e) Every instrument of transfer shall be signed by tin transferor and the transferee and the transferor shall be deemed to hold units until the name of the transferee is entered in the register of holders by the Registrars.

(0 The Registrars may require such evidence as they may consider necessary in support of the title of the transferor or his right to transfer units.

(;•) The Registrars may subject to compliance with such requirements as they deem necessary dispense with the production of the original unit certificate, should \l be lost, stolen or destroyed.

(h) Upon registration of a transfer of units all instruments of transfer and the unit certificate may be retained by the Registran>.

(i) The Registrars recognizing and registering a transfer may issue the original or fresh unii certificate or certificates to the transferee upon payment and realisation of such charges as are payable in connection with the transfer and issue ofI i?A THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 such a certificate or certificates.

(j) If a transferee becomes a holder of units in an official capacity, by operation of law or a scheduled bank upon enforcement of a pledge then the Registrars shall subject to production of such evidence which in their opinion is sufficient, proceed to effect the transfer, if the intended transferee is otherwise eligible to hold units.

(k) Subject to the provisions contained hereinabove the Trust shall register the transfer and return the Unit Certificate to the transferee within 30 days from the date of lodgement of Unit Certifi- cate together with the relevant instrument of transfer.

Refer annexure III, items 2& 4 .

Investment Objectives and Policies

XXV (i) to (viii)

The existing provisions in respect of Investment policies and Inter Scheme transfers will be replaced by the provisions given under items 2 & 4 of annexure III.

However, notwithstanding anything contained in respect of clauses XX, XXI and XXIV, the investment policies, determination of NAV and valuation of assets, fixation of repurchase price and frequency of disclosure of NAV, repurchase price and portfolio would be in accordance with the provisions of SEBI (MF) Regulations/Guidelines/Directives issued by SEBI from time to time.

!

However, notwithstanding anything contained in clauses XX, XXI arW. XXIV above, the valuation of assets, computation of NAV, repurchase price and their frequency of J:^clo3ure would be in •.tccordar.ee with tiie provisions of SEBI (MFs) Peculations / Guidelines / Directives issued by SEBI iron) tcne to time.

To be deleted and amended as under:

Fundamental Attributes

(a) "Fundamental attributes" mean the following'.

T'v- ^oard may trom time to time add to or otherwise amend this scheme and any cr: ••iviment / addition

Additions and Amendrue nts co .he _ ^ , |.A1)1 i ll Si. 4| Till¹. GAZETTE I H; INDIA. MARCH 23/2
i. Type oI scheme : Unit Growth Scheme 10000 is an open end equity scheme.

scheme XXIX

ii. Investment objective: us provided under cluuse XXV (n) and (b) of this offer document,

thereof will be ni ulied m the Official Gazette, In ease of imy amendments prior approval of SEBI shall be obtained.

iii. Terms of issue: provisions in this offer document in respect of repurchase and expenses .

(b) Any change in the fundamental attributes of the scheme will be carried out only if:

(i) the existing members arc intimated by individual communication and (ii) an advertisement is given in English daily newspaper having circulation all over India and also in a Marathi newspaper, (iii) the members are given an option to exit at prevailing NAV without any exit load.

When any change in the fundamental .attributes of the scheme or the trust or fees and expenses payable or any other change which would modify the scheme or affect the interest of the unit holders is proposed to be carried out the consent of not less than ilirce fourths of the unit holders shall be obtained:

(c) The Board may from time to time add to or otherwise amend this scheme and any amcndmcnt/uddilion thereof will b. notified in the Official Gazette as required in terms of section 21(4) oflheUTl Act 1963.

Provided that no such change shall be curried out unless three fourths of the unit holders have given their consent and who do not give their consent are allowed to redeem their holdings in the scheme.

(d) Any changc/smendmcnt/modification of the fundamental attributes of the scheme will be made with the prior approval of the - SEBI. In respect of other changes/amcndments/modiOcations not being of fundamental nature and not affecting the interest of the. investor adversely, SEBI will be kept informed.

Explanation: For the purposes of this clause "fundamental attributes" means the investment objective and terms of the scheme.

Benefits to the unit holders XXXIV

All benefits accruing under the scheme in respect of capital, re- serves and surpluses, if any, at the time of the closure of tl. scheme shall be available only to the unit holders who hold the units for the full term of the scheme till its closure.
I32K THE GAZETTE OF- INDIA, MARCH 2\ 2
i

i i

in cm tilt.- requisition made- by ihree-founh.s ot" the unit holders of the scheme.

i i iii) when the majority of the trustees decide to wind up or prematurely redeem the units ; oi

I iv) when any change in the fundamental attributes detailed in clause XXIX of the scheme or fees and expenses payable or any other change which would modify the Scheme or affect the interest of the unit holders is proposed to be carried out unless the consent of not less than three fourths of the unit holders is obtained.

consent of not less than three fourths of the unit holders is obtained.

Tax laws applicability The existing provisions will be replaced by the updated provisions given under item 8 of annexure III. Refer item 8 of annexure 111.

Custodians & Auditors The existing provisions will be replaced by the updated provisions given under items 11 & 12 of Annexure III. Refer items 11 & 12 of Annexure 111.

Rights of Investors and services Rights of unitholdcrs 1. Unitholdcrs under the scheme have a proportionate right in the beneficial ownership of the assets of and to the income declared, if any by the scheme. 2. The unitholders have a right to ask the Trustees about any information which may have an adverse bearing on their investments and the Trustees shall be bound to disclose such information to the unitholders. 3. The unitholders are entitjed to have the income warrants sent to them Investors Rights & Services 1. Members under the scheme have a proportionate right in the beneficial ownership of the assets of the scheme and to the income declared by the scheme. 2. The members have a right to ask the Trustees about any information which may have an adverse bearing on their investments and the Trustees shall be bound to disclose such information to the member s. 3.The members have the right to have statement of account issued to them not later than 6 weeks from the date of acceptance. 4.The members have the right to have the repurchase proceeds despatched to them within 10 working days (provided the application is in order) from the date of receipt of the application al the office where the repurchase requests are processed. In the case of income distribution the members have the right to have income distribution warrants despatched within 42 days from the date of declaration of the income distribution. 5. An abridged annual report in respect of the UGS 10000

PART IH-SK.;. 4| THE GAZETTE OF INDIA, MARCH 2 3 . J O M j C m r T R ^ j j^ - - - = J^ 1

stall be mailed to ail memDcrs rioi later than six months from the date of closure of the relevant accounting year and the full annual report shall be available foi inspection at tin.- Central Investors' Relation Cell of the 'I rust and a copy shrill rv made available to the members on request on payment of nominal fee, if any. 6. Any change in the fundamental attributes of the scheme will be carried out if the investors are allowed to exit ai NAV besides being intimated by individual communication. 7. Under specified circumstances the approval of members will* be sought by u Postal Ballot. 8. The member s have the right to inspect the following docu- ments at the Centra] Investors Relations Cell, Unit Trust of India, SNDT Women's University Basement, Door No.l, Sir Vithaldas Thackersey Marg, Mumbai 400020.

• TheUTlAct

• The General Regulations •t* The agreements with the custodians, registrars and payinb

bankers

• Copy of Orrer Document of UGS 10000

wiihm 42 days oi the dale : of declaration of the income, if any. 4. Unitholders have the right to get the units transferred within a period of 30 days. 5. The unitholders shall have the right to have payments for units repurchased by the Unit, Trust to be made not later than 10 working days niter the acceptance date | provided that the repurchase application is in order as specified under regulation 53 (b) of SEBI (MFs) Regulations, 1996. 6. The unitholders have the right to inspect all documents listed under the heading "Documents available for inspection".

Intcrachcmi transfers heading "Documents available for inspection". New provisions inserted as per item 4 of annexure III. Refer to item 4 of onnexure III.

Associate Transactio ns & Borrowings Investor Complaint! Penalties / pending litigation or proctedlngt, material findings of inspections or investigatl ons XXXV New provisions inserted as per item 5 of annexure III. The existing information will be updated. No provisions exist Rofcr to item 5 of annexure 111. Refer item 14 of annexure III.

Tax Treatment of Invettmenti New provisions inserted as per item 8 of annexure III Refer to item 8 of annexure III.

Ctutodlint Existing provisions updated Refer to items 11 & 12 of annexure III.

1330 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
as per items 11 & 12 of anncxure 111. Data updated.

& _ .

Auditors

Condensed

Financial

Information
PAKT I l l - S t r. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) n^_
ANNEXURE 11

UGS 10000- PROVISIONS DELETED

Existing provisions Clause no. Remarks

Manifcmint'S UTI has been in operation for over 33 years and has buih up expertise in Deleted; since perception managing funds of around Rs. 58000 crores form over 50 million investors the current of Risk SEB1 factors regulations do not require such disclosure.

Form of Unit Certificate shall be in such forms as may be decided by the Executive Deleted Unit Director of the Trust. Each Unit Certificate shall bear a distinctive number, the number of units represented by the Certificate and the name of the unit Certificate holder. XIII

Deleted; Since. Manner of The Unit certificate may be engraved or lithographed or printed as the preparation Unit Certificate Board may, from time to time, determine and shall be signed on behalf of of Unit to be replaced the Trust by two persons duly authorised by the Unit Trust, Every such Certificate by Statement signature may either be autographic or may be effected by mechanical of Account method. No Unit Certificate shall be valid unless and until ii is so signed, XIV Unit Certificate so signed shall be valid and binding not withstanding thai, before the issue thereof, any person whose signature appears thereon may- have ceased to be a person authorised to sign Unit Certificate on behalf of the Unit Trust. Provided that should the Unit Certificate so prepared contain the signature of an authorised person who however is dead at the time of issue of the Certificate, the Unit Trust may by n method considered by it as most suitable, cancel the signature of such a person appearing on the Certificate and have the signature of any other authorised person affixed to it. The Unit Certificate so issued shall also be valid. If any doubt arises as to the interpretation of any of the provisions of the Deleted; since Power to scheme, only Chairman, and if no one is appointed as Chairman then, the this power is construe Executive Trustee shall have powers to construe the provisions of the now vested in provision scheme, in so far such construction is not in any manner prejudicial or the Board of XXXI contrary to the basic structure of the scheme and such decision shall be Trustees and is conclusive, binding and final. suitably included in the "Fundamental Attributes". Only Chairman, and if no one is appointed as Chairman then, the Executive Deleted Relaxation Trustee of the Trust may in order to mitigate hardship or for smooth and of easy operation of the scheme, relax any of the provisions of the scheme in provisions case of any unit holder or class of unit holders upon such terms as may be XXXII decmbd expedient under intimation to SEBL Any changos in the provisions of the offer document shall bo with prior approval of SEB1 and in accordance with the terms of the regulations.

1^32 THE GAZETTE OF INDIA. MARCH 23, 2(H)2 (CHAITRA 2, 1924) [PART III—SEC. 4

ANNEXURr III

U C iS 1 0 0 00

INSERTIONS AS REQUIRED BY STANDARD OFFER DOCUMENT'

Contents:

SR. I NO. 1 • - .. f1.

i

2. '

Table 'Contents' inserted as per rhs standard offer document Investment Policies

(i) No term loans will be advanced by this scheme.

1

(ji) The Trust shall buy and sell securities on the basis of deliveries and shall in all cases of purchases, take deliver)' of relative securiiies and in all cases of sale, deliver the securities and shall in no case ; tself in a position whereby it has to make short sale or carry for.,^d transaction or engage in badla finance.

(iii) The Trust shall get the securities purchased by it transferred in its name,

(iv) Subject to requisite authorisations, the Trust, in appropriate circumstances, may use techniques and instruments, such as futures and options and other derivatives subject to applicable regulations and counter-party risk assessment, as prescribed by SEB] from time to time, for the purposes of achieving the investment policy of the scheme or hedging or minimising the risk.

(v)(a)The scheme will participate in the stock lending programme, in accordance with the terms of securities lending scheme announced by SE31. The activity shall be carried out through approved intermediary.

fa) The maximum exposure of the scheme to B single intermediary in the stock lending programme at any point of time would be 10% of the market value of the equity portfolio of the scheme or such limit as may be specified by SEBI.

(b) If mutual ftinds and the Trust are permitted to borrow stocks the scheme may in appropriate circumstances borrow stocks in accordance with SEBI guidelines in that regard.

(vi) The scheme may Invest in securities issued by overseas/foreign companies and listed abroad or securities issued by Indian corporates to foreign/overseas investors and listed on foreign stock exchange directly by subscribing to such issues or purchasing them on foreign stock exchanges in accordance with the SEBI / RBI guidelines in that regard from time to time. (vli) The scheme shall not make any Investment in;
PART III—Sr.r. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) _H^_
a) any unlisted security of an associate or jiroup company of the

Trust: or )) any security issued by way of private placement by an associate or group company of the Trust: or c) the listed securities of group companies of the Trusi which is in excess of 25% of the net assets.

a stock-broking firm and wholly owned by the Trust may be utilised for securities transactions of the scheme as per the policies and subject to the limits laid down by the Board of Trustees of the Trust, UTI SEL was set up in 1994. with registered office at Mumbai. (ix) The scheme shall invest not more than 10% of its NAV in the equity shares or equity related instruments of any company.

3. 4. 5. Table showing Corporate Investment in the Trust's schemes and the Trust's investments in these companies inserted ax per the 'standardoffer document'. Inter-Scheme Transfers Transfer of investments from /to this scheme to/from another schemes/plans of the Trust shall be done only if- a) such transfers art on spot basis and are at the prevailing market price for quoted instruments. Explanation : "spot basis"' shall have the same meaning as specified by the stock exchanges for spot transactions, b) the securities so transferred are in conformity with the investment objective of the schemes/ plans to which such transfers are made; and c) transfer of unlisted or unquoted investments from/to the scheme to/from another schemes/plans of the Trust are as per the policies laid down by the Board of Trustees of •the Tnist.

Associate Transactions & Borrowings 1. The scheme shall notborrow except to meet temporary liquidity needs of the scheme for the purpose of repurchase/redemption of units or distribution pf income, if any, to the member s. Provided that the scheme shall not borrow more than 20% of the net asset of the scheme and the duration of such a borrowing shall not exceed a period of six months, 2. As per section 20 of the Unit Trust of India Act 1963 the Trust has the following borrowing powers: (i) The Trust may borrow, whether in India or outside India from any authority or person, not being Government or the Reserve Bank, against such security and on such terms and conditions as may be agreed upon.

1314 THK GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC. 4 (ii) The Trust n\ay borrow money from the Kescrve Bank- [ 1
I

(a) repayable on demand or on the expiry of a fixed period not exceeding ninety days from the dale on which the money is so borrowed, against stocks, funds and securities (other than immovable property) in which a trustee is authorised to invest trust money by any law for the time being in force-in India; (b) repayable on demand or within a period of eighteen months from the dale on which, the money is so borrowed, against the security of the bonds which the Trust may issue with the approval of the Central Government; (c) on such terms 'and conditions and against the security of such other property of the Trust as may be specified in this behalf by the Reserve Bank for the purposes of any scheme other than the first unit scheme: Provided thai any amount borrowed under this clause and outstanding at any one lime shall not exceed- (a) five crores of rupees in respect of each such scheme; and (b) tfcn crores of rupees in respect of all such schemes in the aggregate. O'ii) The bonds issued by the Trust under sub-section (ii) shall be guaranteed by the Central Government as to the repayment of principal and the payment of interest at such rate as may be fixed by the Central Government at the lime the bonds are issued.

Valuation of assets nertaininp to this scheme

6.

(a) Quoted investments including those under lock-in period, if any, .bm except government securities are valued at the closing market rates on the valuation date and in its absence, at the latest available quote within a period of sixty days prior to the valuation date. If no quotes are available for a period of sixty days prior to the valuation date, the same is treated as unquoted investment.

(b) Quoted government securities arc valued at closing NSE market rates on the valuation date and in its absence the latest available quote within a period of seven days prior to the valuation date. If no quotes are available for a period of seven days prior to the valuation date the same are treated as unquoted government securities.

1 (c) In case of quoted debentures and bonds, the market rate, being

uim-intercsi, the same is adjusted for the interest element, if any.

(d) Right entitlements for shares are valued at market rates, discounted for dividend element, wherever applicable.

(e) Unquoted preference shafts/c"i"iulative convertible preference

shares are taken at cost.

(f) Unquoted equity shares are valued* on fair valuation basis as determined by the Board of Trustees from time to time.
PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 2?, 2002 (CHAITRA 2, 1924) 1335
\ji) Unquoted debentures bonds and transferable notes art; valued at yield to maturity , linked to the yield on GOI Securities (.yield curve) along with a mark, up approved by the Board of Trustees.

'h) Unquoted warrants are' valued al the market rate of the underlying equity shares discounted for dividend element, if any. and reduced by the exercise price payable. In cases where the exercise price payable is higher than the value so derived, the value of warrants is taken as nil.

(i) Unquoted Government securities, if any, are valued at yield to maturity based on the prevailing interest rates.

Or Convertible debentures and bonds where composite market quotations are not available, the convertible portion is valued at the market rate relevant to equity shares, discounted for dividend element, if any. The non-convertible portion if any, of such debentures and bonds is valued as in (g) above. Where terms of conversion are not specified in respect of the convertible portion, the same is taken at cost.

7. conversion are not specified in respect of the convertible portion, the same is taken at cost. (k) Capital indexed bonds are valued on cost basis. (11 Valuation policies for Monev Market instruments > (i) Money Market instruments and other assets are taken at book value, (ii) The money invested in inter bank call market is taken at cost, (iii) The money invested in discount/interest earning instruments is valued at the yield at which the instrument was last traded. For this purpose the latest available quote within a period of two working days, prior to the valuation date is considered. When there are no quotes available in the last two working days, the instrument is valued al cost plus the difference between the face value and the cost, applied uniformly over the remaining maturity of the instrument, (iv) Other money market instruments, including unquoted debentures are valued at cost plus the difference between the face value and cost, applied uniformly over the remaining maturity of the instrument. However, notwithstanding anything contained in respect of clauses XXI, XXII, & XXV the investment policies, determination of NAV and valuation of assets, fixation of repurchase price and frequency of disclosure of NAV, repurchase price and portfolio would be in accordance with the provisions of SEBI (MF) Regulations/Guidelines/Directives issued by SEBI from time to time.

Accounting Policies

m6 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
1. Income recognition

(a) Dividend Income on listed equity sliarcs is accrued on the ex- dividend date- Dividend income on unlisted equit\ shares and preference shares is accounted on receipt basis.

(b) Interest on investments and commitment charges is accounted for on accrual basis.

(c) Profit or loss on sale of investments is recognised on the trade dates on the basis of weighted average cost.

(d) Profit or loss and premium on redemption of debenture/bonds are recognised on the due date.

(e) Underwriting commission is recognised as revenue on receipt basis when there is no devolvement. In case of devolvement, the full underwriting commission is reduced from the cost of such investments.

(0 Front-end fee on investments in shares and debentures is reduced from the cost of such investments.

Of) The difference between purchase price and the.maturity value in respect of zero coupon bonds, deep discount bonds and other long term discounted instruments is treated as income over the remaining life of the instrument on YTM basis.

(h) Other income is accounted for on receipt basis.

2. Expenses

i

1

F

a. Expenses are accounted for on accrual basis. b. Certain common expenses incurred through Unit Scheme 1964, are allocated to the other schemes as per the provisions of Sec 25 (4)ofUTlActl963.

c. Unit Scheme 1964 which owns the fixed"assets, recovers lease rent, on an approved basis, from other schemes for their usage of the said assets.

3. Investments

a. Investments arc stated at cost or written down cost.

b. In case of secondary market transactions investments are recognised on trade dates.

c. Subscription to primary market issues is accounted as investments, on allotment.
pX Hr HI—Srr. 4] THE GAZETTK OF INDIA. MARCH ?1, 2
d Bonus/right cntillemcnts arc recognised on c\-bonus/c\-ncht dates,

c. Investment viz., debenture and bonds, are lumsferred to current assets on the redemption / due date.

f. The cost of investments include brokerage and sertice ta>; but does not include cost of stamps which is charged to revenue.

4. Provisions and Depreciation:

(A) Provisions against the jncome considered doubtful:

Provision is made in respect of interest income remaining past due

for two quarters or more. Provision is made in respect of dividend

at the year end, where it remains outstanding for more than one

yenr from the -x- dividend date,

(Q) peDreciation in the value of investments

(i) The aggregate value of investments as computed in accordance

with clause XXI above is compared to the aggregate cost of juch

investments and the resultant depreciation, if any, is charged to

General Reserve / Unit Premium Reserve. In ca3e such aggregate

value exceeds the aggregate cost or the aggregate value as at the

end of the previous year, the appreciation is added to Unit Premium

Reserve/ General Reserve to the extent depreciation was previously

adjusted.

(ii) In cases where unquoted equity or preference shares were

written off in the earlier years, the cost of such investment is

written back to Its cost, as and when a quote or fair value is

available.

(iii), Assets where interest is remaining past due for two quarters or

more are classified as non performing assets, Provision for such

assets is made individually (as stated in the table below). Such

provisions aio not made for other performing assets of the same

company.

Percentage of Provision

Period for which asset

Remains non-performing

Unsecured

Asset

Secured

Asset

10%

10%

Upto two years

100%

20%

Exceeding two years

But upto three years

30% 100%

Exceeding throe years
mw T HF nA7.F1TF OF INDIA. MARCH 23. 2002 (CHAITRA 2. 1924) [PART III—SEC. 4
iut upto five year.¹;

Exceeding five years 50% 100%

iv) Where principal repayment remains outstanding (i) for two quarters beyond the past due period in respect of the debt nstruments with a balance maturity of not more than 3 years and (ii) for one year beyond the past due period in respect of debt nstruments with o balance maturity of more than 3 years, irovisions, are made for such outstanding instalments. The overall provision for such assets is limited to the percentage mentioned in the above table (upto 50% for secured and 1 Q0% for unsecured assets) or the amount in default whichever is higher.

Any subsequent instalments in such cases where the original default continues, are provided after 30 days from the respective due dates.

(v) In case of funding of interest by way of capitalisation of outstanding interest dues, the same is provided irrespective of the period of default.

(vi) Provisions for non performing assets are charged to Unit Premium Reserve/General Reserve/ Revenue Account as the case may be.

(vii) Provisions made under paragraph 4(A) and 4(B) (iv) are written back on receipt or on restructuring of the assets. Provisions under 4(B) (v) are written back on receipt basis. 5. Income Distribution: (a) Provision for income distribution is made on unit capital at rates approved by the Board of Trustees from time to time. 6. Publication of Financial Results: The unaudited financial results as on 31st December will be published within 2 months and audited annual results as on 30th June will be published within six months of finalisation of accounts in one English daily and one Marathi daily.

Tax Treatment of Investments 8. 1. Residents/NRIs/OCBs i) Taxation of income, if any, and capital appreciation, if realised, under the scheme will be subject to prevalent tax laws. ii) Currently income, if any, received by all categories of investors under all schemes/plans of the Trust is totally free from tax under section 10(33) of the IncomeTax Act, 1961,

PARF III—SEC. 4] THE GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) _KW
The scheme is required to pay an income distribution tax at the rate

of 10% and surcharge of 10% thereon under Section 115R of

ncome Tax Act, 1961 on the amount of income, if any. distributed by it. However, being open ended equity oriented fund, the scheme will not be subject to the said tax under the said section upto 31" vlarch, 2002, provided more than 50% of the total proceeds of the scheme are invested in equity shares of domestic companies.

9. NRO funds will be subject to treatment indicated urider sections 48 and 112 of the Income Tax Act, 1961. At present the investor is required to pay tax @ 20% on long term capital gains after factoring the benefit of the Cost Inflation Index. However, the capital gains accruing to investments made through NRE accounts are not taxable. iv) Value of investment in units under the scheme is completely exempt Irom Wealth Tax. v) The Gift Tax Act, 1958 has abolished the levy of Gift Tax In respect of units of the scheme are fully exempt from levy of Gift Tax. 2) Eligibility for Capital Gains Tax Exemption under Section 54EA Inviitment of entire or part of net consideration ariiing out of transfer of long term capital assets in DOS 10000 will be eligible for capital gains tax exemption under Section 54EA of the Income Tax Act, 1961 subject to repurchase of units only after three year* from the date of acceptance of the application.-- 3) Eligibility for Capital Gains Tax Exemption under Section 54EB Investment of entire or part of capital gains nrising from transfer of long 'term capital assets in UGS 10000 will be eligible for capital gains tax exemption under section 54 EB of of Income Tax Act, 1961 subject to repurchase of unit* only after seven yean form the date of acceptance of application", 4) For Eligible Trusts Units ore approved securities under section 1 l(2)(b) of the Income Tax Act 1961. Eligible Trusts Investing in units will therefore, qualify for tax exemption in respect of income and corpus under sections 11 and 13 of the Income Tax Act, 1961.

Constitution A Mana/tmtnt of Unit fruit Of India Constitution of UTI Unit Trust of India was set up u a statutory body under Unit Trust of India Act, 1963, with a view to encouraging saving and

67—309 QI/2001
1340 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHA1TRA 2, 1924) [PART HI—SEC, 4
accruing to the Trust from the acquisition, holding, management and disposal of securities, It started functioning'with effect from 1st July, 1964.

1invcstmcn; and participation in the income, profits and gain{{^{{FOOTNOTE *}}}}

Management of UT1

The Management of the affairs end business of the Trust are vested in the Board of Trustees with a full time Chairman appointed by the Government of India. B " i d" the Board, there is o statutory Executive Committee comprising the Chairman and two other Trustees nominated by the Industrial Development Bank of India, This Committee is competent to deal with any matter within the competence of the Ptcard. foosirii or Trustees *

i, Shri F S Subromaayam Chairman, Unit Trust of India

2, Shri C P Muniappan Executive Director, RBI

3, Shri G P Gupta Chairman &, Managing DirectorJDBI

4, Shri N.S. Sekhwrio Managing Director,

Gujarat Anibuja Cements Ltd.

5. Shri Rnjendra P Chitole Chartered Accountant

6, Or, Vishvunath V Demi Economist

7. Shri G Kriihrwmurthy Chairman, L.l.C,

8. ShriGGVttldyi Chairman, S.B.I.

9. Shri K C Chowdhary Chairman A Managing Director,

Central Bank Oflndln

* The other current directorships of the Trustees am an followu

I, Shri P S Subrnmanymn (i) Chairman L Director - The India

Fund, (11) Chairman & Director -India Growth Fund, (111) Chairman

& Director • India Acceu Ltd, (iv) Chairman & Director • The

India Public Sector Fund Ltd. (v) Chairman of Governing Council •

UTI- Institute of Capital Markets, (vl) Chairman & Director • UTI

Investment Advisory Services Ltd. (vll) Chairman & Director • UTI

Investor Services Ltd (viil) Chairman • UTl-Securltles Exchange

Ltd., (ix) Director' UTI Bank Ltd. (x) Chairman & Director -

1 Over-The-Counter Exchange of India (xi) Member - Life Insurance

Corporation of India, (xli) Director • Discount & Flnunoe House of

India Ltd. (xili) Director • Securities, Trading Corpn, of India

Ltd.(xiv) Director • National Stock Exchange of India Ltd. (xv)

Trustee - Indian Institute of Software Engineering,

2. Shri G P Gupta- (1) Chairman* Small Industries Development

Bank of India, (ii) Director- The India Fund (ili) Director- India

Growth Fund, (iv) Director • Discount and Finanoe House of India

Ltd. (v) Director- Export-Import Bank of India, (vl) Director"

Securities Trading Corpn. of India Ltd., (vil) Dlractor*

Infrastructure Development Finance Co. of India Ltii,, (viil)

Dirtctor- Indian Airlines Ltd. (ix) Dimeter- IDBI Bunk Ud..(x)

Director" National Stock Exchange of India Ltd. (*) M*mbrr* Lift

Iniuransit? Corpn, of India, (xi)Membtr- Ocntttft! Iniuiwace Coren.
PARF ill—SEC 41 THE GAZETTE OF INDIA, MARCH IX 2002 (CHAITRA 2, 1924,) 1341
of India (xii) Director- South Asia Regional Fund; (xiii) Chairman - South Asia Development Fund, (xiv) Council Member- Indian Institute of Bankers, (NV) Member- Bankers Training College (RBI), (xvi) Member- Association of Development Financing- institutions in Asia and the Pacific (xvii) Member- Institute of Banking Personnel Selection (xviii) Member- The Institute of Company Secretaries of India 3. Shri N S Sekhsaiia - (i) Director - Gruh Finance Ltd, (ii) Director- Radha Madhav Investments Ltd. (iii) Director - Hpme Trust Housing Finance Co. Ltd. (iv) Director- Ambuja Cement foundation (v) Director Ambuja Educational Institute 4. Shri Rajendra P Chitalc - (i) Director - Small Industries Development Bank of India, (ii) Director- National Securities Clearing Corporation Ltd (iii) Director - J M Capital Management Ltd. (iv) Director - Zurich Asset Management Company (India) Ltd. (v) Director- India Index Sen-ices and Products Ltd. (vi) Director- Association of Leasing and Financial Services Companies, (vii) Member - Executive Committee (Governing Board) of National Stock Exchange, (viii) Member - India Advisory Board of Bank of America NT & SA (ix) Member - Investment Committee, Life Insurance Corporation of India. 5. Shri V V Desai - Advisor - 1CICI Limited. 6. Shri G Krishnamurthy - (i) Chairman - LIC (International) EC. Bahrain (ii) Chairman - LIC Housing Finance Ltd. (iii) Director - General Insurance Corporation of India (iv) Director- Poysha Industrial Co. (v) Chairman, Governing Board- National Insurance Academy (vi) Director- National Housing Bank (vii) Director- UTI Bank Ltd. (viii) Director - Discount & Finance House of India (ix) Director- Kenindia Assurance Co. Ltd.,Kenya (x) Director- ICIC1 Ltd. (xi) Chairman- Governing Body of Insurance Council 7.Shri G G Vaidyn- (i) Chairman- SBI Capital Markets Ltd. (ii) Chairman- SBI Funds Management Ltd., (iii) Chairman - SBI Gilts Ltd., (iv) Chairman - SBI Securities Ltd., (v) Chairman - SBI Factors & Commercial Services Ltd., (vi) Chairman - SBI European Bank Ltd., (vii) Chairman - State Bank of lndore, (viii) Chairman - State Bank of Saurashtra, (ix) Chairman - State Bank of Patiak. (x) Chairman - State Bank of Bikaner & Jaipur , (xi) Chairman - State Bank of Hyderabad, (xii) Chairman -. State Bank of Mysore, (xiii) Chairman - State Bank of Travancore, (xiv) Chairman - State Bank of India (California), (xv) Chairman - State Bank of India (Canada), (xvi) Vice President of the Governing Council - Indian Institute of Bankers, (xvii) Director- National Bank for Agriculture and Rural Development , (xviii) Director - Export- Import Bank of India, (xix) Director- General Insurance Corporation, (xx) Member of the Governing Board & Chairman of Finance Committee- National Institute of Bank Management, (xxi) Member of the Governing Board, Chairman of the Finance Committee &. Office Premises Committee & Committee of Administratois of IBPS Employees Pro. Fund, - Institute of Banking Personnel Selection (xxii) Member- Institute for Developing & Research in Banking Technology, (xxiii) Director-1 ij? THE GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) [PARH III—SEC. 4 nfrastructure Development Finance Corporation , (xxiv) Direcior- 1

Infrastructure Leasing &. Financial Services Ltd. , (xxv) Director- Export Credit Guarantee Corporation, 8. Shri K C Chowdhan - (i) Chairman - Small Group on Bank Audit, Indian Banks' Association (ii) Chairman- Banking Operations. Indian Banks" Association, (iii) Chairman - Small Group on Credit Related Matters, Indian Banks' Association (iv) Chairman - IBA Working Group for Interaction with Trade Bodies/Associations, (v) President - Indian Banks' Association, Local Chapter, (vi) Membrr - Managing Committee, Indian Banks' Association, (vii) Chairman - Centbank Home Finance Ltd., (via) Chairman - Centbank Financial & Custodial Services Ltd.^ (ix) Director - Agricultural Finance Corpn. of India, (x) Director - Mastercard Asia/Pacific Board, (xi) Director - The New India Assurance Co. Ltd..(xii) Member - Task Force, Indian Banks' Association. Management of the Fund:

10.

Name of the fund manager alongwith his qualifications and experience inserted. Custodians

11.

The SEBI registration number of SHCIL is 1N/CUS/011

Tariff structure of SHCIL is as under:

Electronic

Physical

-

Rs.5 per certificate

Dematerialisation

Purchase

Rs.lOOperDIP

5.5. basis points on

The value of the

Transaction

Rs. lOOperDIS

Sale

5.5 basis points on

The value of the

Transaction

Custody

1.5 basis points on The asset value in The custody

8 basis points on the asset value in the Custody

-

Off market

Purchases

5.5 basis points on

the value of the

Transaction

Off market .

Sales

5.5 basis points oi

the value of the

Transaction

Rs. 15 per certificate

RematerialisationD . ". m—c™- 4! THF. GAZETTE OF INDIA. MARCH 23, 2002 (CHAITRA 2, 1924) 1343

Conversion value Whichever is higher

12. Auditors M/s. Chaturvedi &. Company. Chartered Accountants, 60, Bentik Street, Calcutta 700 069 and M/s Batliboi & Purohit, Chartered Accountants, National Insurance Building, 204, D N Road, Fort, Mumbai 400 001. The auditors of the scheme are appointed by the IDBI and they are subject to change from year to year.

13. Table showing Investors' Grievance Redressal data inserted

14. 15. PENALTIES. PENDING LITIGATIONS. MATERIAL FINDINGS OF INSPECTIONS/ INVESTIGATIONS 1. There are no cases relating to penalties awarded by SEB1 under the SEBI Act or any of its regulations or by any Stock Exchanges (where the units of the schemes of the Trust are listed) against the Unit Trust of India/Board of Trustees, or any of the Trustees or key personnel (specifically the fund managers). 2. There are no pending material litigation proceedings incidental to the business of the Unil Trust of India including the Board of Trustees or any of the trustees or key personnel. There are no pending criminal cases against the Unit Trust of India, Board of Trustees or any of the Trustees or key personnel. 3. Neither SEBI nor any other Regulatory Agency has specifically advised that any deficiency in the systems and operations of the Unit Trust of India be disclosed in the offer document. 4. There arc no enquiry/adjudication proceedings under the SEB1 Act and the Regulations made thereunder, against Unit Trust of India, Board of Trustees/Trustee or key personnel.

Table giving condensed financial information inserted

1_U4 THE GAZETTE OF INDIA, MARCH >3, 2002 ( C H A I T R A ^ J W^ _ [FART 111—SEC. 4
ANNEXUREI

PEF- PROVISIONS MODIFIED/INSERTED

Clause No. Existing provisions

Amended provisions

Not included

HIGHLIGHTS An Open End Growth Scheme

Open to resident individuals and institutions as well as to NRIs, OCBs and FIIs.

Minimum investment is Rs.5000/- with no maximum limit. For subsequent investments under the same folio the minimum investment is Rs. 1000/.

The face value of a unit is Rs.10/-.

Sale and repurchase will be based on the NAV as at the close of the day on which the application is accepted. Sale will be at NAV plus a load not exceeding 3% to NAV.

Repurchase will be at NAV.

Facility to reinvest the income, if any, will be available at NAV.

Switchover facility from the scheme to such other schemes which may be announced by the Trust from time to time or vice versa at NAV or NAV based price.

Currently Income Distribution, if any by the scheme is totally tax free in the hands of investors under section 10(33) of Income Tax Act 1961. Further, being an open end equity oriented fund it will not be subject to Income Distribution tax for a period upto March 2002 under section 115R of the Income Tax Act 1961.
PART HI—SEC. 41 THE GAZETTE OF INDIA, MARCH 2?, 2002 (CHAITRA 2, 1924) _ 1345 1
Capital- gains arising from capital appreciation, if any, on repurchase of units is subject to tax benefits under sections 48 & 112 of Income Tax Act. 1961.

Investment eligible for availing of capital gains tax exemption under sections 54EA and 54EB of the Income Tax Act, 1961.depending upon the source of fund subject to repurchase of units only after • ock-in-period of three/seven years respectively from the date of acceptance of the application. Value of investment in units under the scheme is completely exempt from Wealth Tax. The Gift Tax Act, 1958 has abolished the levy of Gift Tax in respect of gifts made on or after 1" October 1998, Thus, gift of the units of the scheme are fully exempt from levy of Gift Tnx.

bcflnition Ml (u)

'acceptance date' with jreferenac to anj applkaiiorr made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the Trust after being satisfied that such application is in order, accepts the same;

"Acceptance date" with reference to an application made by an applicant to the Trust for sale or repurchase of units by the Trust means the day on which the branch office of the Trust, after being satisfied that such application Is complete in all respects, accepts the same. The acceptance date in respect of sale and repurchase applications received at the franchise office/collection centre will be the date of receipt of the application at the office of the Registrar or the 5¹" working day (T+5) from the date of Its receipt thereof at the franchise office or collection centra (T), whichever Is earlier. The Trust mny reduce the number of working days from 5 to a lower number, as mny be deckled.

No provision CKISIS

t)ofinltl(in 111 (l"0

T)eHhlllfin III fc)
1346 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) ' [PART III—SEC. 4
application under Clause of the Scheme who is not a minor.

shall include all those categories of persons more particularly described in clause V hereinafter mentioned.

Definition

No provision exists

General Regulations 1964.

Definition No provision exists (eb) "Firm", "partner" and "partnership" III have the meanings assigned to them in the Indian Partnership Act. 1932 (9 of 1932), but the expression partner shall also include any person who being n minor is admitted to the benefits of the partnership,

Definition No provfsion exists (la)"Member" used as an expression under III the scheme shall'mean and include the applicant who has been allotted units under the scheme on or after 23"1 February.2000. "Member " also means a "unitholder" holding units under a unit certificate and both the expressions can be read synonymously. The existing definition (ia) Is renumbered u (io).

Definition (Ib) "Non Resident Indian (NRI)". means No provisions exists III Non Residents of Indian nationality/origin. A person shall be deemed to be 'person of Indian origin' if he/she or either of his parents, or any of the grand parents, howsoever high in degree or ascent, whether of paternal side or maternal side, w u bom in India, as defined in Government of India Act, 1935 originally enacted, "Person shall include an DdlnitWiii 'Person holding units or III (m) institution os defined above. unitholder' means a person who the as eligible

Definition III

(inn) "RBI" means the Reserve Bank of

India established under the Reserve Bonk

of India Act. 1934.

Definition HI (n)

"Registrars" means a person whose

services may be retained by the Trust to act

as the Registrar under the scheme, from

time to time.
PART I I I - S E C. 4] THE GAZETTE OF INDIA, MARCH 23. 2Q02JCHAITRA 2, 1924) 1347

Societies Registration Act. 1860 or established under any. state or central law for the time being in force: this expression shall include banks, financial institutions and companies registered under the Companies Act. 1956. 1860 or any other society established under any State of Central law for the time being in force.

Applicntion for i).Resident Indians being adult Units individuals, either singly or V alongwith another adult individual on joint/either or survivor basis, i) a resident individual or a NRI either singly or jointly with another or upto two other individuals on joint/anyone or survivor basis.

iv) An eligible trust as defined in

the Regulations in accordance

with and to the extent provided

in the Regulations:

v) Other Bodies Corporate

including societies, banks,

financial institutions and

companies formed under the

Companies Act. 1956.

iii) an eligible institution as defined under

the scheme including Private. Trust being

irrevocable trust and created by an

instrument in writing.

iv)Financial Institution

v)a society as defined under the scheme.

vi)a registered co-operative society,

vii) a Bank including Scheduled Bank.

Regional Rural Bank. All Co-Operative

Bank etc.

viii)a body corporate including a company

formed under the Companies Act, 1956 or

established under State or Central Law for

the time being in force

ix)a Hindu Undivided Family both resident

and non-resident.

x)an Army/ Navy/ Air Force/ Paramilitary

Fund

xi)a partnership firm.

An application by a partnership firm shall

be made by not more than three members

of the firm and the first named person shall

be recognised by the Trust for all practical

purposes as the member.

xii)a Public Sector Undertaking (PSU)

xiii) a Foreign Institutional Investor (FII)

registered with SEBI.

Minimum

Amount of

Investment

VI

The minimum investment shall

be Rs.2000/- with no maximum

limit. The unit will be allotted

upto three decimal places.

Application shall be made for a minimum

of Rs.50007- There is no maximum limit

and units will be allotted upto three

decimal places. For subsequent investment

under the same folio the minimum

investment is Rs.lOOOV- In case of

68—509 OI/200Ii'">, THE GAZETTE OF INDIA, MARCH 23, 2002 (CIIAITRA 2, 1924) [PART UT-SEC. 4 investment of Rs.50,000/- and above, the resident or NRI investing out of non- resident ordinary account is advised to furnish Income Tax P.A.N./G.I.R. number and I.T. Circle address if he/she is having so.

Limitation <"n Expenses VIII

Initial issue expenses may not exceed 6% of tht funds raised under the Scheme. Total expenses charged to the scheme except the initial issue expenses shall not exceed 2,5% of the daily average net asset value during any accounting year.

initial issue expenses may not exceed 6% of the iunds raised under the Scheme. Total expenses charged to the scheme except the initial issue expenses sl^ll not exceed 3% cf the daily itverace net as?cr value during any accounting year.

1 Mmk of payments X)

(a) t he payment for units by an applicant shall be made by him alonywith the application in cash, cheque or draft. When applications are submitted at the Trust branch offices, cheques or drafts should be drawn on branches of banks within the city/town where the the Trust brunch office at which the application is tendered is situated.

(b) If the payment is made by a cheque/draft,, the acceptance of an application will be subject to such chequc/dra/t being realised.

(c) NRIs Miiould submit their applications- preferably at the NRI Branch. Mumbni or at any of the Branches of the Trust kJR(E)/NR(O) cheque or a rupee alongwith ( draft payable at the place where the application is submitted.

(1) AJi puymems for units applied for shall be mnde by the applicant alongwith the application by way of cash, cheque or draft. Where applications ore submitted at UTI branch offices, cheques or drafts should bo drown on branches of banks within the city where the branch office at which the application is' tendered is situated. Provided however that the applicant who wishes to apply for¹ units from a place other than where the Trust has its branch office may do so by sending the application to the branch office of the Unit Trust alongwith the bank d: f; for number of units applied after deducting therefrom charges payable for bank draft.

(d) Investment hy FIIs should be through payment by dfcbit to the Special Non- Resident Rupee Account maintained with a designated bank/authorised dealer, approvttdbyRBI.

1, Modi* of payment for NRI Investment with repatriation benefit* (2) If the payment is made by cheque, the acceptance date will, subject to such cheque being realised, be the date on which the cheque is received by the Trust or authorised collection centre.

The investments by NRls/OCBs shall carry the right of repatriation of capital invested If payment is made by draft, the P,RT III-Sre 4] THE G A Z E ^ T E O F J N D ^ ^ C ^ ^ O O^

1acceptance date vvil). subject to and income earned thereon and capital appreciation so long as the investor continues to be resident outside India, Investment in these cases can be made through one of the following modes:

such draft being realised, be the date on which the application is received by the Trust or authorised collection centre. If the amount tendered by way of payment for the units applied for is not sufficient to cover the amount payable for the units applied for. the applicant shall be issued such lower number of units as could be issued under the scheme, the balance due to him shall be refunded at his cost in such manner as flie Trust may deem tit.

(a) By a draft in rupees issued in favour of the Trust by a bank/exchange house operating outside India drawn on their Indian correspondent banks, (b) By a cheque drawn on the investor" s NRE account maintained with a bank in India, (c) By a cheque/draft issued from the proceeds of FCNR deposits of the investor. Note: Payment in Nepalese and Bhutanese currencies are not accepted.

iii) Mode of Investment with

repatriation benefits

4) Mode of payment for NRI investment without repatriation benefit!!

The investment by NRIs/OCBs shall carry the right of repatriation of capital invested and income earned thereon and capital appreciation (if appli- cable), as long as the investor continues to be resident outside India. Investment in these cases can be made through one of the following modes:

(a) Draft in foreign currency

(b) Draft in rupees issued in favour of UTI drawn on their Indian correspondent banks.

a) Where funds held in NRO accounts are utilised for purchase of units, the funds so invested and capital appreciation (if any). will not qualify for repatriation out of India. Similarly, investments in units purchased in rupees while the investor was a resident of India and becomes non- resident subsequently will not qualify for repatriation of sale proceeds of units, b) As per RBI circular A.D.(M.A. Series) No. 18 dated August 19, 1994 the entire income distribution earned thereon during the financial year 1996-97 and onwards will qualify for full repatriation. In such cases the Trust will make payment in Rupees for credit to NRO A/C. Investors are advised to contact their banks/tax consultants if they desire remittance abroad of the income distribution on units.

(c) By cheque drawn pn investor's NRE account main- tained with a Bank in India.

(d) By cheque/draft issued from the proceeds of FCNR deposits.

Further, payment in Nepalese and Bhutanese currencies arc not accepted. Investment in units isI35() THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PARI IH—SEC. 4 made in rupees, all foreign currency drafts are converted into Indian rupees at the rate of exchange ruling at the time of such conversion. Shortfall, if any, will have to be remitted by NRI investors.

In view of the above it is advisable that NRI/OCB investors make payment by instruments mentioned at (b) & (c) above.

iv) Mode of investment without

repatriation benefits

Where funds held in NRO accounts are utilised for purchase of units, the funds so invested and capital appreciation (if applicable) will not qualify for repatriation out of India.

However as per RBI circular A.D. (M.A.Series) No. 18 dated August 19, 1994 the entire income earned during the financial year 1996-97 and onwards will qualify for full repatriation.

While in such cases UTI will make payment in rupees for credit to NRO A/C, investors are advised to contact their banks/ tax consultants if they desire remittance of income on units.

Right of the Trust to accept or reject application:

Right of Trust to accept or reject application

IX(3)

The Trust shall have the right a its sole discretion to accep and/or reject application for issue of units under the scheme Any decision of the Trust abou the eligibility or otherwise of a 1 person to make an application

The Trust shall have the right at its sole discretion to accept or to reject an application for issue of units under the scheme. The Trust shall reject anPART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) _ 1351

under the scheme shall be final. pplication for issue of units in the ollowing circumstances: i) the application is received with less than he minimum investment of Rs. 5000/- and Rs. 1000/- in respect of initial nvestment and subsequent investment per folio thereafter respectively, (ii) the application has not been signed by he first applicant (iii) the applicant is not eligible to invest in the scheme. Any decision of the Trust about the eligibility or otherwise of a person to make an application under the scheme shall be final. iv) In case the application is found to be incomplete, the same will be rejected. Any application without the first applicant's bank particulars will be rejected. Refund in such rejected cases will be made after compliance of requisite operational and procedural formalities without incurring any liability, whatsoever, for interest or other sum.

Applicnnt Person applying for units under Applicant to comply with requirements bound to the scheme shall be bound to under the scheme before being issued comply with satisfy the Trust about their units: requirements eligibility to make an application under the and comply with all a)Persons applying for units under the scheme before requirements of the Trust, such scheme on behalf of a minor shall satisfy bcinji issued as Trust deed in the case of the Trust about their eligibility to make an units IX(5) application from a Trust. Birth application and comply with all Certificate in the case of requirements as laid down by the Trust application on behalf of minor such as submission of the Birth Certificate requisite documents as per RBI in case of minor. Regulations, if any, in case of NRI, Memorandum and Articles b) An adult, being a parent, step-parent or of Association in case o other lawful guardian of a minor may hold Companies etc. depending on units and deal with them in accordance the category of the investor. with and to the extent provided, in sub- section (2 A) of Section 21 of the Act. Such adult if so required shall furnish to the The compliance or otherwise to Trust, in such manner as may be specified, the satisfaction of he Trust o proof of the age of the minor and ' his such requirements shall be at he capacity to hold and deal with units on sole discretion of the Trust

i ; ' , 52

T HL G A 7 I : T T F_ ( ) !• I N U I A. M A R CH ? 3, 2 0 02 ( C H A J T RA 2, I W .i

[ P ^i I II - S F I\ 4

behalJ of the minor. The Trust shall be entitled to act on the statements made b\ such adult on the application form without any further proof.

Person who holds units under a false declaration shall be liable to have the unitholding cancelled and the name deleted from the register of unitholders. The Trust shall have the right in such an event to repurchase the units at par after deduction of 25% as penalty or nl such other price as may be decided by the Trust and recover the Income Distribution , if any. wrongly paid f-m out of the repurchase proceeds and return the balance. The amount shall not carry any interest irrespective of the period it takes the Trust to effect the repurchase and to remit the repurchase proceeds to the applicant.

c) Applications for units on behalf of bodies like Partnership Firms/Co-operative Socreties/Bodies Corporate/Companies shall be accompanied by certified copy of Partnership Deed/Bye-Laws of the Society/Statute governing the Body Corporate/Memorandum and Articles of Association of the Company together with Resolution of the governing Body authorising investment in the scheme. At the time of repurchase of the units, resolution of the governing body authorising repurchase and authorisation of the concerned official(s) of the Body to comply with the formalities and collect the repurchase cheque will have to be submitted.

d) Person who holds units under a false

declaration shall be liable to have the

unitholding cancelled and the name deleted

from the register of unitholders.

e) In aforesaid cases, the Trust shall have

the right to repurchase the units at par or

NAV whichever is lower after deduction of

25% as penalty or at such price as may be

decided by the Trust, and recover the

Income Distribution, if any, wrongly paid

from out of the repurchase proceeds and

return the balance. The amount shall not

carry any interest irrespective of the period

it takes the Trust to effect the repurchase

and to remit the repurchase proceeds to the

applicant.

Application by

and

Registration of

Trusts and

Minors

X

1) Eligible institutions, body corporate,

and societies (including co-operative

societies) may be registered as members.

3) Eligible institutions, bodies corporate or

societies shall whenever required submit to

the Trust all the relevant documents

showing the applicants' competence to

1) Eligible Trusts, Bodies

Corporate, OCBs and FIIs may

be registered as unit holders.

3) Applications by eligible

Vusts, bodies corporate, etc.

shall be accompanied by the

relevant documents showing the
P*RT III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2003 (CHAITRA 2, 1924) 1353

applicant's competence to invest invest in units, sucli ay Memorandum and in units, such as Trust Deed. articles of association. Bye-laws etc. an Memorandum and Articles of authorised copy of the resolution by the Association. Bye-laws etc. an managing body etc. authorising investment in units and a copy of the requisite Power authorised copy of the resolution of Attorney. by the managing body etc. 4) A firm shall be registered as a member authorising investment in units and the statement of account shall be made and a copy of the requisite in the name of the firm. Power of Attorney.

Sale of units The .contract tor sale of units by Sale contract/issuance of statement of and date of the Trust shall be deemed to account ullolment have been concluded on the XI acceptance date. For the initial (a) The sale price of units will be at a load offer period the date of allotment not exceeding 3% to the NAV as at the shall be 30 days from the date of close of the day on which the application is closure of the initial offer period. accepted. The contract for sale of units by For subsequent offer periods the the Trust shall be deemed to have been date of the allotment shall be the concluded on the acceptance date. For the date of acceptance of the initial offer period the date of allotment application . On such conclusion shall be 30 days from the date of closure of of the contract for sale, the Trust the initial offer period. For subsequent or its agent, as the case may be, offer periods the date of the allotment shall shall, as soon thereafter as be the date of acceptance of the application possible, send the applicant as . On such conclusion of the contract for acknowledgement therefor. The sale, the Trust shall as soon thereafter as Trust shall thereafter send a unit possible, issue to the applicant statement of certificate representing the units account. A statement of account issued by sold, by post to the address given "the Trust to the eligible institution, firm or by the applicant. The Unit Trust body corporate shall be made out in the shall endeavour to send the unit name of the eligible institution/firm/body certificate as soon as possible corporate. The Trust shall not incur any but not later than six weeks from liability for loss, damage, misdelivery or the date of allotment. The Unit non-delivery of the statement of account so Trust shall not incur any liability sent. for the loss, damage, miss* delivery or non-delivery of the (b) In respect of all applications for unit certificate, so sent. A Unit sale/repurchase received and accepted at Certificate issued to an Eligible the Trust branch offices or received at Trust shall be in the name of Registrar's office [please see III (a)] by 2 such Trust. p.m. on a particular day the applicant NAV will be that of the same day. All application,' ved and accepted after • 2p.m. wii" .erned by the NAV of the next working day, (c) Non-individual applications alongwith required documents will be accepted only 1 at the Trust offices. |

, „ , i H li GAZETTE OK INDIA, MARCH 23, J(K)2 (CHA1TRA 2, 1024) [PART HI—SEC. 4
(d) The Trust shall send the statement of account not later than 6 weeks from the date of acceptance of application.

Vnliiatioit of

Refer to item 9 of annexure III.

The existing provisions shall be replaced by the provisions given under item 9 of annexure III.

assets pertaining to this scheme XII

Determination of Net Asset Viiliu- (NAV) XIII

Computation and disclosure of Net Asset Value (NAV): The NAV shall be issued to the press for publication on a daily basis.

This NAV shall be published daily atleast in two daily newspapers. The calculation of NAV will be subject to Regulations and Guidelines that may be prescribed by SEBI in due course.

Investment

Limits

XV

(i) No term loans will be advanced by this scheme. (ii)The Trust shall buy and sell securities on the basis of deliveries and shall in all coses of purchases, take delivery of relative securities and in all cases of sale, deliver the securities and shall in no case put itself in a position whereby it has to make short sale or carry forward transaction or engage in badla finance. 1

(iii) The Trust shall get the securitieM

purchased by it transferred in its name.

(i) All debt instruments in which investments are made by the scheme should hove been rated as investment grad by CRISIL/ICRA/CARE or any other credit rating agencies which may be recognised from time to time: Provided that if the debt instrument is not rated, the specific approval of the Board of Trustees of the Trust shall be taken for investment, (ii) No term loans will be advanced by this scheme.

(iv) Subject to requisite authorisations, the

Trust, in appropriate circumstances, may

use techniques and instruments, such as

futures and options and other derivatives

subject to applicable regulations and

counter-party risk assessment, as

prescribed by SEBI from time to time, for

the purposes of achieving the investment

policy of the scheme or hedging or

minimising the risk.

(v)(a)The scheme will participate in the

stock lending programme, in accordance

with the terms of securities londing scheme

announced by SEBI. The activity shall be

carried out through approved intermediary,

(iii) Investments by way of

privately placed debentures,

securitised debts and other

unlisted debt instruments shall

not exceed 10% of the total

assets of the scheme,

(iv) The scheme shall not

invest more than 5% of its

corpus in any one company's

shares,

(v) Not more than 15% of the

funds of all the schemes of the

Trust including this scheme shal

be invested in shares, debentures

i
P,\KT I I I - S L C. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1355
b) The maximum exposure of the scheme o a single intermediary in the stock ending programme at any point of time would be 10% of the markei value of the equity portfolio of the scheme or such limit as may be specified by SEBI.

or other securities of a single company, (vi) Not more than 15% of the funds of all the schemes of the Trust including this scheme shall be invested in shares and debentures of any one industry:

debentures of any one industry: (c) If the Trust is permitted to borrow Provided that provision shall stocks the scheme may in appropriate lot apply to a scheme which has circumstances borrow stocks in accordance been floated for investments in with SEBI guidelines in that regard. one or more specified industries >i) The scheme may invest in securities and declaration to that effect has issued by overseas/foreign companies and been made in the offer letter, listed abroad or securities issued by Indian (vii) Transfer of investments corporatcs to foreign/overseas investors from this scheme to another and listed on foreign stock exchange scheme/plan of the Trust shall be directly by subscribing \o such issues or done only if- purchasing them on foreign stock (a) such transfers are done at exchanges in accordance with the SEBI / the prevailing market price for RBI guidelines in that regard from time to quoted instruments on spot basis, •time. (b) the securities so transferred shall be in (vii) The scheme shall not make any conformity with the investment investment in; object of the scheme/plan to a) any unlisted security of an associate or which such transfer has been group company of the Trust: or made, (c) transfer of unlisted or b) any security Issued by way of private unquoted investments from the placement by an associate or group scheme to another scheme/plan company of the Trust; or shall be as per the policies laid c) the listed securities of group companies down by the Board of Trustees of the Trust which is in excess of 25% of of UTI. the net assets. (viii) The scheme shaH not invest in or lend to another UTI (viii) The services of UTI Securities scheme/plan. Exchange Limited (UTI SEL) a stock- (9) The scheme shall not broking firm and wholly owned by UTI borrow funds to finance its may be utilised for securities transactions investments. of the scheme as per the policies and subject to the limits laid down by the Board of Trustees of the Trust. UTI SEL was set up in 1994, with registered office at Mumbai. (ix) The scheme shall invest not more thnn 10% of its NAV in the equity shares cr equity related instruments of any company. Repurchase ni (1) No repurchase shall be made 1. Repurchases will be open throughout the

hy—5< w G1/2001 , ^f, THE >'•*7vriTmF_|NmAj^C^

units XVI

year except during the book closure not 1 exceeding 45 days in a year.

vvitlim the lock-iti-penod i.e. within 90 Jays from the date of closure of the initial offer period.

2. The Repurchase Price of the unit of PEF, shall be the NAV.

3. Repurchase will be effected on receipt of t h e' repurchase request slip in the Composite Services Form (CSF)/unit certificate duly discharged. Partial repurchase shall be permitted subject to the member maintaining a minimum balance of Rs.5000 per folio to be determined at the repurchase price applicable as on the date of acceptance of repurchase application.

The contract for repurchase shall be deemed to have been concluded on the acceptance date for repurchase.

(2) (:} After the lock-in-period, the Unit Trust shall repurchase the units at NAV. Repurchase shall be effected on receipt of the Unit Certificate with duly discharged repurchase from primed on the reverse subject, j however, to the fact that the j Trust is fully satisfied that all i formalities in thai regard have been completed as is more particular detailed in sub clause (3) hereto. Partial repurchases will be allowed, provided that no repurchase so made should result in the unitholder holding units other than in multiples of 100 units.

4. In the event of partial repurchase, depending on the number of units retained by him, the member shall be issued a fresh statement of account, No Interest shall be payable on the repurchase proceeds.

(ii) the unit holder shall be under no obligation to offer his units for repurchase us provided in sub clause 2(1) above and he will be free to hold them as long as he desires during the currency of the Scheme.

5. In the event of the death of the member/* and on surrender to the Trust by the lejfal representative of the statement of account, the request letter for repurchase of units outstanding to the deceased member, the Trust shall on compliance with the requirements laid down in connection with the recognition of claim, repurchase the units in accordance with such rules and guidelines as may be formulated by the Trust and pay the outstanding amount upto the date of settlement of the claim. The legal representative of the statement of account may instead of receiving the • repurchase value of oil units to the credit of t deceased shall be permitted to hold the t units fl* a member and continue to remain i registered as a member and shall be issued / a statement of account in his/her name in f respect of units so desired to be held (3) Subjuct to the provisions of sub clause thereof, the Unit Trust shall, on request by the unit holder for repurchase repurchase specified part of the units indicated In the unit certificati). as the case tnfly be, being always a Multiple of 100 units, the unit certificate so received shall be retained by the unit certificate si? received shal bo retained by t'l'je Unit Trust foi qancdlatiw. Tlw Unit Trua shall,,'in the cwfl of repurchase of a part of the unit's indicated ir the unit ceniflijate, isgue a new unit cortiflcsw for ft* balance oPAR. I H - S L C. 4] THE GAZETTE OF INDIA, MARCH 23, 2002jCHAlTRA2,_1924) , ^ _ _ _ . _ L g Z. units held by he unitholder.

subject IO the conditions regarding minimum holding and eligibility to invest.

(4) The contract for repurchase shall be deemed to have been concluded on the acceptance date.

7. Payment for units repurchased by the Trust after the deductions, if any. shall be made within 10 working days (provided the application is in order) from the date of receipt of the statement of account alongwith a request letter at the centre where , the repurchase requests are processed.

No interest shall, on any account, be payable on the amount due to the applicant and the cost of remittance (including postage) or of realisation of cheque or draft sent by the Trust shall be borne b> the applicant.

(5) Payments for units repurchased by the Unit Trust shall be made as early as possible after the acceptance date in such manner as the applicant may indicate in the application. No interest shall, on any account, be payable on the amount due to the applicant, and the cost of remittance (including postage) or of realisation of cheque or draft sent by the Unit Trust shall be borne by the applicant.

8. In case of non-resident investors, repurchase proceeds will' be remitted depending upon the source of investment as given below:- a) Where units have been purchased out of remittance in foreign exchange from abroad or from the • proceeds of the member's FCNR deposits or from funds held in member's Non-Resident External (NRE) Account with a bank in India, the proceeds can-be remitted to the member in foreign currency or credited to NRE or Non Resident Ordinary (NRO) account or paid to his relative in India, b) Where units have been purchased while the applicant was a resident in India or out of funds held in members NRO Account. thfr maturity proceeds will be sent either to the investor's bankers in India for credit to his NRO account or to a relative of the investor in India, 9) In case of FIIs. repurchase proceeds will be credited to the Special Non-Resident Rupee Account or as per instructions issued by SEBI/RBI from time to time.

No provision exists

Switchover

Switchover XVIA.

i. Members under the scheme will be permitted to switchover their investment,-,5K THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) ^_JPARTJT[1—SEC^* from the scheme to such other schemes or vice versa which may be allowed by the Trust from time to time. In such a case they may apply foe the switchover by submitting their request in the prescribed Composite Services Form (CSF) / duly signed unit certificate, if any.

li. The switchover will be effected at NAV or NAV based price as may be decided by the Trust.

iii. Partial switchover from the scheme to such other schemes or vice versa which may be announced by the Trust from time to time should satisfy the condition of holding minimum investment limit under both the schemes. The Trust shall retain the unit certificate.if any, for cancellation and the member shall be issued fresh statement of account of both the schemes.

iv. Investment made in the scheme for the purpose of availing benefits under section 54 EA/54 EB of the Income Tax Act, 1961 shall not be permitted to be switched over before the expiry of the lock-in-period of 3 and 7 years respectively.

Sulc &

Repurchase

Prise XIX (1)

The price at which a unit will be sold by the Trust will be hereinafter referred to as Sale Price and the price at which a unit will be repurchased by the Unit Trust will be hereinafter referred to as the "Repurchase Price. Sale during the "initial offer period' will be at par. When the units are sold subsequently i.e. after the lock-in-period of 90 days from the datp of closure of the "initial offer period", the sal&price shall be at NAV plus not exceeding 3% of I^AV as at the close of the day on which the application is accepted. The sale price shall be announced on a daily basis.

. The repurchase price shall be at NAV as at the close of the day on' which the application is accepted. The repurchase (1) The price at which a unit will be sold by the Unit Trust (hereinafter referred to as "the sale price "). and the price at which a unit will be repurchased by the Unit Trust (hereinafter referred to as the "repurchase price") shall be declared on a daily basis. Sale during the 'initial offer period' will be at par. When the units are sold subsequently i.e. after the lock- in-pcrtod of 90 days from the date of closure of the "initial offer period", the sale price shall be at historic NAV plus atleast 5% of NAV. The sale price shall be announced on a daily basis.

PART I I I -S E C. 4] THE GAZETTE OF INDIA, MARCH 2^ M02_(CHA"RA, .:. i - ^. __1359

)rice will be announced dash'. The difference between the sale and repurchase 3rice, however, will not exceed 7% of the sale value.

The repurchase price shall be at listonc NAV. The repurchase >rice will be announced daily. The difference between the sale and repurchase price, however, will not exceed 7% of the sale value.

Form of Unit Certificate XIX

1) For units sold on 23"' February, 2000 and thereafter the Trust shall issue a statement of account, with an assigned foiio number not later than 6 weeks from the date of acceptance of application.

A Unit Certificate will be issued to .the unit holder. A unit Certificate shall be in Form A annexed hereto. Each unit Certificate shall bear a distinct number, the number of units represented by he Certificate and the name(s) of the unitholder(s).

2) Ever}' member will receive an updated statement of account under the folio each time any additional purchase or partial ^ repurchase or switchover pursuant to clause XXVII (a) below is made by the member under the folio.

3) The NRI investor may choose any one of the. following modes of despatch of statement of account.

(i) At the applicant's Indian/foreign address

OR

(ii) At the address of the NRI applicant's relative in India.

4) In case of FIIs. the statement of account will be sent to their global custodians or at' the address furnished in the application.

5) If the member so desires, a unit certificate will be issued to him within six weeks of the receipt of request to issue the certificate in lieu of the statement of account.

6)Both unit certificate and statement of account are "equally valid evidence of admission of the investor into the scheme.

7) Provisions of clauses shall applyn 60 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 mutatis mutandis to units covered by unit certificate and to the* unitholders.

8) Exchange of statement of account/unit certificate when it is mutilated, defaced, lost etc.: In such cases a statement of account will be issued based on a simple request.

Trust not to be recognised regardint; units XXIII

The person who is registered as the holder and in whose name a statement of account has been issued shall be the only person to be recognised by the Trust as the member and as having any right, title or interest in or to the units indicated in the statement of account, and the Unit Trust may recognise such member as absolute owner thereof and shall not be bound by any notice to the contrary or to save as herein expressly provided or as by some court of competent jurisdiction ordered, to recognise any trust or equity or other interest affecting the title to any units indicated in the statement of account.

The person who is registered as the holder and in whose name a Unit Certificate has.been issued shall be the only person to be recognised by the Trust as the unit holder and as having any right, title or interest in or to such Unit Certificate and the units which it represents, and the Unit Trust may recognise such unit holder as absolute owner thereof and shall not be bound by any notice to the contrary or to save as herein expressly provided or as by some court of competent jurisdiction ordered, to recognise any trust or equity or other interest affecting the title to any Unit Certificate or the units thereby represented.

No provision exists

Register of members XXVA

The following provisions shall apply as regards registration of members : (1) A register of the members shall be kept by the Trust at its offices and there shall be entered in the register - (a) the folio number and the number of units standing to the credit of the member; (b) Name and address of the member; (c) Name(s) of second & third holder: (d) Nature of holding; (e) Name of the nominee / beneficiary; (f) Date of admission to membership; (2) The restrictions stipulated in Clause 21 applicable to unit certificate(s) and unit holders) shall apply mutatis mutandis to statement of account and units applied for / standing to the credit of a member.

Receipt by member 4" discharge Trust J The receipt of the member for any moneys ] The receipt of the unitholder foi anv moneys paid to him in

Receipt by unithnldcr toPAKT I I I - S F C. 4] THE GAZETTE OF INDIA, MARCH 2X 2002 (CHA1TRA 2, > " 4 ) __ [3h|_

discharge

Trust

XXVI

respect of the units represented by the Certificate shall be a good discharge to the Unit Trust.'

paid to him in respect ot the units indicated in the unit certificate/statement of account shall be a good discharge to the Unil Trust.

a) Transfer facility -

Translcr/Pludg

(.'/Assignment

of units

XXV11

Units issued under the scheme may be transferred /pledged/assigned after • completion of 90 days from the date "of closure of the "initial offer' subject to the following terms:

Subject to following exception, units- under statement of account are not transferable- But. being an open ended scheme, sale/repurchase facility is available on an on going basis at NAV/NAV based price. However, if a person becomes a holder of units by operation of law or upon enforcement of a pledge ( as given in (b) below) or due to death insolvency or winding up of the affairs of sole holder or survivors of a joint holder then, subject to production of such evidence which in the opinion of the Trust is sufficient, the Trust will effect the transfer if the intended transferee is otherwise eligible to hold units,

(1) Every unilholder shall be entitled to transfer the units or any of the units held by him by an instrument in writing in a form approved by the Chairman of the Trust provided that no transfer shall be registered if the registration thereof would result in the transferee being a hojder of a number of units not being a multiple of 100,

Provided thni no transfer shall be made except to the person in the classes mentioned in Clause V.

Provided, that under special circumstances, the Trust may allow transfer of units without an instrument of transfer on such terms and conditions as may be specified by the Trust,

Under special circumstances, holding of units by a company or other body corporate with another company or body corporate or an individual/individuals., none of whom is a minor, will be considered by the Trust.

(2) Ever)' instrument of transfer shall be signed by the transferor and the transferee and the transferor shall be deemed to remain the holder of the units transferred until the name of ht transferee is entered in the register in respect thereof.

(3) Transfer instruments with the relative Unit Certificates shall bo lodged with any of he branches of Unit Trust/Registrars if any appointed for the purpose.

b) The member may pledge/assign units in favour of banks/other financial Institutions as a security for railing loans. Units can be ptedged by completing the requisite forms/ formalities as may be required by the Truit, The Trust will record a plcdge/charge/li*n against units pledged. < The pledgor may not redeem units so pledged until ' the bank/ financial institutions to which the units are pledged provides the written authorisation to the (4) The brunch office of Unit TrusVRegiitrsirs if any, may require such evidence "s they may consider necessary lri <,,-" -i HI" GAZFTTli OF INDIA, MARCH 23, 200J (CHAITRA 2, 1924) [P\RT Til—Six. 4 1 1

Trust that the pledye/charge/hen may be removed. As long as the units are pledged, the pledgee bank/financial institutions will have complete authority to redeem such units.

support of the title ot the transferor or his right to transfer the units. The Trust may dispense with the production of any Unit Certificates which shall become lost, stolen or destroyed, upon compliance by the transferor with . the like requirements to those arising in the case of an application by him for the replacement thereof.

(5) If a transferee becomes a holder of units in an official capacity or by operation of law than the branch of the Trust/Registrars if any. shall subject of the Trust/Registrars if any. shall subject to production of such evidence which in their opinion is sufficient, proceed to effect the transfer, if the intended transferee is otherwise eligible to hold units.

(6) All instruments of transfer, which may- be registered, shall be retained by the Trust for such period as many be necessary keeping in view procedural and operational requirements.

(7) Where all the units have been transferred, the Trust shall endorse the details of the transferee on the reverse for-the purpose. Where the transferor lias transferred only a portion of the units covered by a Unit Certificate, the Trust shall issue to the transferor a fresh Unit Certificate for the units not transferred by him and also issue a fresh Unit Certificate for the units not transferred by him and also issue a fresh Unit Certificate to the transferee for the units so transferredpA RT HI—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1424) 1363

iranslcrcc wiiliin 30 days from the dale of lodgement of the unil Certificate together with the relevant instrument of transfer.

Application and transfer forms signed by attorneys XXVIII Nuniinatiun liy unitlioldcrs (XXIX) If any application or transfer Application signed by attorneys form is signed by a person If any application is signed by a person holding a power of attorney Holding a power of attorney empowering empowering him to do so, the liim to do so, the original power of original power of attorney or a attorney or a notarially certified copy of the notarially certified copy of the same should be submitted along with the same should be submitted along application, unless the power of attorney with the application or the has already been registered in the books of transfer form, as the case may the Trust, be, unless the power of attorney has already been registered in the books of the Trust. S. N o m i n a t i o n h y ii}C|nl>cis (1) Uuitholder holding units (i) Nomination facility is available only for singly or two unitlioldcrs individuals applying on their own behalf holding jointly may exercise the i.e. singly or jointly upio two. right to make or cancel a nomination in favour of not more than one person to the (ii) Only one person can be nominated, extent provided in the regulations. (iii) Minors including a NR1 minor can be nominated, However, in ease of nomination (iv)Nominalion of NIUs is subject to by NlU's , the nomination will requirements of the RBI prescribed from lime to lime, be governed by the rules to be v) Nomination can be charged ut uny formulated by the Reserve Bank time during the currency of the scheme, of India from lime to time . (vi) Applicant being either parent or lawful guardian on behalf of a minor, an eligible (2) In the event of deuih of a sole institution, societies, bodies corporate, unitholdcr, the nominee shall be HUF and partnership firms shall have no the person recognised by the right to make nomination. Trust as the person entitled to he amount payable by the Trust in (vii) Other provisions will be to the extent respect of units under the regulations, provided in the regulations, (viji) Tho facility of llie statutory 0 ) In the absence of u valid nomination is available to u member under nomination by a unilholder the Section 39A of the Unit Trust of India Act, executor or administrators of the , 1963. Accordingly, where a nomination, in deceased unilholder or u holder respect of any unit has been made in of succession certificate issued accordance with the UTI General under Pan X of the Indian

70- -5ns) GI/20OI1364 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 Succession Acl, 1925 (39 of 1925) shall be the only person who may be recognised by the Trust as having any title to the units.

Regulations, 1964, the amount payable to the member in respect of the said unit shall, on the death of the member , vcsl in and be payable to the nominee in any ease subject to any right, title, claim or other interest of any other person to or in respect of the said units as provided in "such regulations and subject to any charge or encumbrance over the sdid Units. Payment made by the Trust as aforesaid shall be a full discharge to the Trust from all liability in respect of the said uniis.

(4) Any person becoming entitled to a unit consequent upon the death of a unitholder(s) , may, after the lock-in-period and upon producing such evidence, as to his/her title, a" Ihc Trust shall consider sufficient, be paid of the deceased at the repurchase price fixed by the Trust periodically, after all the forniulitlcs in connection with the claim have been compiled with by the claimant.

(51L& ihe event tho iulu nominee under the Unit Cerlillcute is d person eligible to hold units then a the desire of the said nunilnei\ the nominee may instead if receiving tho repurchase value of all units to the credit of the deceaKcd skill be permitted to hold the units as a UiiitliwlUer and continue lu remain registered as a unitholdcr and shall ba issued a unit ccrtiiieato In his name in respect of units so desired t be held subject to tho conditions regarding minimum holdings.

(<5) In the event of death of unitholder during the loek-in- pcriod , Unit Trust shall settle the claim alter compliance with necessary formalities and pay the legal heir/nominee the repurchase value as detailed in the relevant clauses or arrived at by any other method us may be decide by Unii Trust.
pA RT in—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1365
Income

Distribution

XXXI

a) Although growth is the objective DFthe scheme, the scheme may make income distribution from lime U> time.

1) The Trust may or may not declare income distribution under lliQ Scheme depending upon the income received under the Scheme and the expenses incurred thereunder. The income distributable , if, any, shall be distributed as soon as possible after the closing of the annual accounts as on the 30th of June each year. UTI shall endeavour to despatch the same within 42 days from the date of declaration o the dividend.

(b)Such of the members whose names appear in the register of members as at the close of registers prior to the declaration of neome distribution by the scheme shafj be entitled to receive the income so distributed under The scheme. ]c)The income distributed by the scheme shall be paid through ECS, wherever such facility is available or by a cheque or warrant encashable at the branches of such bank/s as the Trust may specify under pre- payment arrangements with the bank/s.

(d)In case of declaration of Income \ Distribution Warrants shall be despatched within 42 days from the dale of declaration of the income distribution.

(e)Rcinvcstinent of income distributed:

(2) ll shall be lawful for a unit holder to receive and retain any income declared by the Trust in respect of units of which he is such holder, notwithstanding that the units have already been transferred by him for consideration unless the transferee who claims the income from the transferor has within fifteen days of the dale on which the income became due, lodged the Certificate and all other document relating to he transfer which may, under he provisions or otherwise, sbe required by the Trust, for being registered in the name.

1 he member may opt for reinvestment of income declared by the scheme, if any, in further units. In the event of an exercise of such an option the whole of the income on his unitholding, after deduction of tax, if any, instead of being paid to the member in the manner provided in Clause XXXI (c) hereinabove shall be reinvested in further units of the scheme at NAV.

1) Bank particulars of investors &

Explanation: The period specified in this sub clause shall be extended.'

I) in case of death of the transferee by the actual period taken by his legal representative to establish his claim to the income;

Electronic Clearing Service: (i) In order to avoid fraudulent encashment of Income Distribution Warrants/ Repurchase cheques/ Maturity cheques, SEBI has made it mandatory for investors, in their own interest- to give bank particulars at the appropriate place in the application form. Applications without bank particulars will not be accepted. Accordingly, applicants residing outside the eleven cities given at (ii) below arc requested to give the full particulars of their bank account (i.e. nature of account.

ii) in case of loss of the iransfei deed by lligfl or any other cause beyond the control of tht transferee by the actual periotI \bb THE GAZETI'E OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 laken lor ilic replacement thereof; and

iii) in case of delay in the lodging of any Certificate and other documents relating lo the transfer connected with the transit through the post, by the actual period of the delay.

lccoum number and name of bank) at the appropriate space in the applicauon form is well as on the acknowledgement receipt portion for record. Income Distribution Warrants/repurchase cheques will then be nude nut in the name of the member with the bank particulars for crediting the member 's account so specified and sent lo them.

(3) Nothing contained hcreinabove shall affect the right of the Trust to pay to the unit holder any income which has become due , in respect of units of which he is such a holder.

(4) No interest shall be payable by the Trust on such income distributable among the unit holders.

(ii) Currently ECS facility is being made available to investors from Mumbai/Calcutta/ Chennai/Ncw Delhi/ Ahmcdabad/ Baroda/ I'unc/ Dhubaneshwar/ Bangalore/ Hyderabad/ Jaipur for direct credit lo their bank accounts at the respective centres and where the amount of single instrument does not exceed Rs.5,00,000/-.the investor will be given a statement giving details of credit to his bank account.

However, the Trust, depending upon ihe reserves built tinder the Scheme and if circumstances permit, shall compensate the unilholdcr to the extent possible in such form and manner as approved by the I£\eculivc Committee on any delayed claim of dividend by the unit holder.

(iii) The bank branch of Ihe investor will credit ihe his account and indicate the credit entry wilh "liCS"¹ in ihe passbook/statement of bank account. The applicant who desires to avail of this facility is requested to fill up ihe particulars of name and addiess of his bank, nature and number of account. 9 digit Bank and branch MICR code no. etc. in the application form.

Reinvestment of Income Distribution in further units XXXII

(iv) In case the response lo this facility is not sufficient enough or for any other reasons, the Trust may pay the income by issue of income warrants instead of paying income through "ECS".

(g) Income Distribution to NRI/OCUs investors

(5) The income if distributed among t he unit holders shall be paid by cheque or warrant or any other instrument drawn on the Trusts bankers at the places where its offices are situated or, at the option of lit unit holder, by a bank draft, the charges for such bank draft, being borne by the unit holder.

Income distribution to NRI/OCBs investors shall be' -made as per ihe Exchange Control Regulations. 1 lie present position regarding paymenl of income is as follows:

The unilholder shall while applying for units or lliereaftei have the option lo reinvest the income receivable in respect il the units held in further units. In i) The warrant can be issued in the name 1 P,R1 u i - S , ,. 4| THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2. _ l g 2 4 ) ^ ^ _ __ ^⁶⁷

investors

I Reinvestment of Income Distribution in further units XXXII

Income distribution to NRI/OCBs investor* shall be made as per the Exchange Control Regulations. The present position regarding payment of" income is as follows: i) The warrant can be issued in the name of the member and sent to a relative who is resident in India for crediting the NRE/NRO account of the member . as the case may be. OR ii)The warrant can be issued in the name of a relative who is resident in India and sent to him for being credited to his account.

(0 ECS facility is also available to NRI investors who have their own bank accounts in Mumbai. For those NRI investors who wish to credit the income distribution to their resident relative's account. ECS facility could be extended to them at places as indicated above.

The unitliolder shall while applying for units or thereafter have the oplion to reinvest the income receivable in respect if the units held in further units. In the event of an exercise of such an option the whole of the income that may be distributed instead of being paid o the unitholder in the manner provided in Clause XXXI hereof shall, after deduction of tax. if any, be reinvested in further units at prevailing NAV with zero sales load. A statement detailing the dividend distributed, tax deducted, if , any. and the units allotted in lieu thereof shall be forward to the unitholder. No unit holder shall be entitled to call for the issue of a Unit Certificate in respect of the units so allotted. A unitholder who has opted for the reinvestment facility a aforesaid shall on an application in writing and on surrender of the last statement issued be permitted to have the units to his credit repurchased at the repurchase price prevailing then. A unitholder who has repurchased the reinvested units may continue to avail the reinvestment facility in respect of the income distributable for the subsequent years. The units allotted under the reinvestment facility under this clause are not subject to the conditions and stipulations governing the parent units in respect of the minimum holding of 200 units and in multiples of 100 unit thereafter, partial repurchases and other matters.
l?lM THE GAZETTE OF INDIA. MARCH 23. 2002 (CHA1TRA 2, 1924) [PART III—SEC. A

Development 0.1?% ot the NAY on the iirst (i)A sum equal to 0.25% p.a. of the daily Reserve Fund day of the accounting year shall average Net Asset Value shall be set aside (DUF) he set aside every year when the as contribution towards the DRF of Contribution scheme goes open-ended i.e. Trust. DRF contribution will be part of the after lock-in-period of 90 days XXXIII recurring expenses. from the date of closure of the initial offer period as (ii) The Trust instituted this fund in contribution to the DRF of the year 1983-84 as a common fund to enable Unit Trust. the Trust to meet the expenditure in respect of research &. developmental work connection with the introduction of new schemes, innovation of new systems and procedures at the conceptual stage and also various other productional developmental work not related to linked with any particular scheme The Fund is also utilised for Economic and Capital Market Research, Management & Professional Training, Surveys and Market Research for the Trust, Marketing and Corporate image building efforts that are not connected to any specific scheme, Human Resource Development efforts with long term effects and which may relate to the Trust's future activities and meeting the shortfall, if any, in the assured rate of return of any of the schemes of the Trust as well as the issue expenses for no- load schemes.

0.10% of the NAV on the first Stuff Welfare A sum equal to 0.10% p.a. of daily average Fund day of the accounting year shall Net Asset Value of the scheme shall be set Contribution be kept aside every year as aside as contribution to the Staff Welfare XXXIV contribution to the Staff Welfare Fund. The Trust has instituted the Staff Fund. Welfare Fund for the welfare of employees which shall include relief distress, medical relief, health relief or for similar other purposes.

Publication of accounts xxxv Amended and included under item 10 of The Trust shall as soon as may be after the 30th June of each Accounting Policies in Annexure III. year cause to be published in such manner as the Board may decide, accounts in the .manner specified by the Board showing the working of the scheme during the period ending as oi that date. The Trust shall furnish

PARI HI Src. 4| THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1^24) 1369

o the SEBI and others concerned copies of duly audited annual accounts including the valance sheel and the profit and oss account as also unaudited half yearly accounts and the quarterly statement of movements in NAV and quarterly portfolio statement including changes from the previous periods. The Trust shall make such disclosures to ht investors as are essential to keep them informed about any information which may keep them informed about any information which may have an adverse bearing on their investments, The Trust shall, on request in writing received from a unitholdef. furnish him a copy of the accounts and statements so published.

Addition and The Board may from time to Amendments time add to or other wise amend to the scheme this Scheme and any (XXXVI) amendment/addition thereof will be notified in the Official Gazette, In case of any amendments prior approval of SEBI shall be obtained. Amendments to the offer document based on the provisions of the Scheme can be effected with prior approval of the Executive Committee and of SEBI. Amended and included under item 5 titled 'Fundamental Attributes" in Annexurc III.

(l)The Trust may wind up the Termination of Scheme if the total number ol the Scheme units outstanding after (XXXVII) (i) The duration of the scheme is indefinite. The Trust may however, terminate and initiate steps to wind it up |

,370 THE GAZETTb (JF INDIA, MARCH 2.1. 2002 (CHAITRA 2, 1924) [PART III—Sir. 4
under the following circumstances¹

(a) on the happening of any event which in the opinion of the Trust requires the scheme to be wound up, or

(b) if 75% of the members pass a resolution that the scheme be wound up: or

(c) if the SEBI so directs in the interest of

the members of the scheme

repurchases ai am point o time tails below fifty percent of the original issued number of units or in exception of the circumstances like war or warlike situation, disruption of trading in Stock Exchanges, dislocation of business in the financial market due to war etc., insurrection civil commotion or any other serious socio- economic factors (like sustained political and industrial disturbances) etc.

(ii) Where the scheme is wound up in

pursuance of sub clause(i) above, the Trust

shall give notice of the circumstances

leading to the winding up of the scheme to

SEBI and in two daily newspapers having

circulation all over India and also in a

vernacular newspaper circulating in

Mumbai at least a week before the

termination is effected.

(iii) On and from the date of advertisement

of the termination, the Trust shall

(2) Where the Scheme is wound up in pursuance's of cub clause (I) above, the Trust shall give notice of the circumstances leading to the winding up of the Scheme to SEB1 and in daily two newspapers having circulation all over India and also in a vernacular newspaper circulating in Bombay at least before a week the termination is effected.

(a) cease to carry on any business activities

in respect of the scheme,

(b) cease to create and cancel units in the

scheme,

(c) cease to issue and redeem units in the

scheme.

(3> On and from the date of advertisement of the termination, the Trust shall-

(a) cease to carry on any business activities in respect of the scheme.

(b) cease to create and

(iv) The Board of Trustees shall call o

meeting of the members to consider and

pass necessary resolution by simple

majority of the member s present and

voting at the meeting for authorising the

Trustees or any other person to take steps

for winding up of the scheme.

cancel units in the Scheme.

(c)cease to issue and

redeem units in the Scheme.

(v) (a) The Board of Trustees or the person authorised under sub clause (iv) shall dispose of the assets of the scheme in the best interest of the member s of the scheme,

(b) The proceeds of sale made in pursuance of sub clause (v) (a) above, shall, in the (4) (a) The Board of Trustees shall dispose off the assets of the Scheme concerned in the best interest of the unit holders of the scheme.

PART III—SIX. 41 THE GAZETTE OF INDIA, M A R C H j a j⁰"² (CHA1TRA 2. 1924) _ J^

first instance be utilised towards discharge of such liabilities as arc- properly due under the scheme and after making appropriate provision for meeting the expenses connected with such winding up. she balance shall be paid to the member s in proportion to their respective interest in iht- assets of the scheme as on the date when

he decision for winding up was taker,.

(b) The proceeds of sale made in pursuance of clause (a) above. shall, in the first instance be utilised towards discharge of i uch liabilities as are properly lue under the Scheme and after making appropriate provisions be ' meeting the expenses connected with such winding up. he balance shall be paid to the unit holder in proportion to their respective interest in the assets of the Scheme• as on the date when decision for winding up was taken.

vi) On completion of the winding up. the Trust shall forward to the SEBI and the anitholders a report on the winding up containing particulars such as circumstances leading to the winding up, the steps taken for disposal of assets of the scheme before winding up. expenses of the' scheme for winding up. net assets available for distribution to the member and a certificate from the auditors of the scheme,

(vis) Notwithstanding anything contained hereinabove. the application of the provisions of SEBI (Mutual Funds) Regulations. 19% in respect of disclosures of half yearly reports and annual report shall continue until winding up is completed or the scheme ceases to exist.

(5) On the completion of the winding up, the Trust shall forward to the SEBI and the unit holders a report on the winding up containing particulars such as circumstances leading to the winding up. the steps taken for disposal of assets of the Scheme before winding up. expenses of the Scheme for winding up. net assets available for distribution to he unitholders and certificate from the auditors of the Scheme.

(viii) After the receipt of the report referred to in item (vi) above, if the SEBI is satisfied that all measures for winding up of the scheme have been completed, the • scheme shall cease to exist.

(6) The Trust shall pay the repurchase value as early a possible after the Unit Certificate with the form on the reverse thereof duly completed has been received by it. The Unit Certificate and other forms, if any. shall be retained by the Trust for cancellation.

(ix)The Trust shall pay the repurchase value as early as possible after the statement of account alongwith a request letter has been received by it and other procedural and operational formalities are complied with.

(x) In case of NRI investors, repurchase proceeds will be remitted depending upon the source of investment as given below:

a)Where units have been purchased out of remittance in foreign exchange from 71—509 Gl/20011 3 72 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC, 4 r 1

aboard or from the proceeds of the

member's FCNR deposits or from funds

held in member's Non-Resident External

(NRE) Account with a bank in India . the

proceeds can be remitted to the member in

foreign currency or credited to NRE or

Non-Resident Ordinary (NRO) account or

paid to his relative in India,

(b) Where units have been purchased while

the applicant was a resident in India or out

of funds held in members NRO Account,

the maturity proceeds will be sent either to

the investors bankers in India for credit to

his NRO account or to a relative of the

investor in India.

Amended and included under item titled

"Investors Rights and Services' given

below.

Copy of

.schcn.c tu he

mm-*1 iiviiihtlili'

(XX.XIXV

A copy of this Scheme

incorporating nil amendments

thereto shall he mad available

for inspection at the offices of

the Trust at all times during its

business hours and may be

supplied by the Unit Trust to any

person on application.

l)i*cjiiimcr

Refer item 1 of annexure 111.

Inserted as per item 1 of

unncNure III.

CIllltMC

To be submitted to SEDI and

Ccrtiflaus'

then inserted as per standard

Ibrmat

Refer item 7 of annexure III.

XLII.Intcrsvlii'm

e Trunttfcrft

New provisions inserted as per

item 7 ofannexure III.

Refer item 8 of annexure III.

New provisions inserted as per

Item 8 of Anncxurc III.

XLirl AMOCIMK'

Tninwiction* &

RnrrnwinRX

XLIV

New provisions inserted as per

Refer item 11 of annexurc III.

T"i,\ Trciitmcnt

item 11 of annexurc HI.

of Imvstment*

Refer item 12 ofunnexure III,

xtv

Information iiuerted as per item

13ofanncNurcUI.

Mnnimorwni or

UTI

Refer Itemi 14.15 & 16 of annexure III.

lU'tt'strnri &

Auditor*

*lVi. KwiiU,

tUifor item it*ofnnrjexureill.

pcnillnfl

Exiting provision! updated a"

per Items 14. 15 * : $$ ^

nnnexure III, :T*$-

N'"\v prn'vii'ionA Inicned as per

Itvm IB of onneKvtro III,
PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1373
litigations, material findings of inspections/ invest jgHtinn*

Latest data inserted.

Condensed Financial Information ANNEXURE I!

PEF - PROVISIONS DELETED

Existing provisions

Remarks Clause No.

Deleted

Definitions

t i s i.

i

Application' means the form df application prescribed for offer of units to all applicants and containing the terms and conditions for the purpose of unit subscription to the Scheme for the investing public

deleted as statement of account will be issued.

j Manner of ] fsrcparation 1 c-f Unit | Ceifilkak- ! (XXJI)

i i !

I

The Unit Certificates may be engraved or lithographed or printed as the Board of Trustees may from time to time, determine, and shall be signed on behalf of the Unit Trust by two persons duly authorised by the Unit Trust. Ever}' such signature may either be autograph or may be affected by a mechanical method. No Unit Certificate shall be valid unless and until it is so signed. Unit Certificates so signed shall be valid and binding notwithstanding that. before the issue thereof, any person whose signature appears therein may have ceased I to be a person authorised to sign Unit

Certificates on behalf of the Unit Trust.

j Provided that should the Unit Certificate so prepared contain the signature of an authorised person who however is dead at the time of issue of the Certificate, the Unit Trust may. by a method considered by it a s most suitable . cancel the signature of such i a person appearing on the Certificate and have the signature of any other authorised person affixed to it. The Unit Certificate so issued shall also be valid.

1 1 |_

j Exchange of ! unit

certificates and procedure when

Deleted as already provided in clause XIX (7) of annexure I. (1) In case any Unit Certificate shall be j mutilated or worn out or defaced, the Unit Trust in its discretion, may issue to the person entitled a new Unit Certificate representing the same aggregate number o: units as the mutilated or worn out o defaced Unit Certificate. In case any Unit

j certificate h I mutiLucd, L .

PART HI—She. 41 THE G AZETTE_O^DI A J ^ OT ^

_^ defaced last j etc. (XXIV)

Certificate should be lost, stolen or j destroyed, the "Unit Trust may. in its i discretion, issue thereof. No such new Unit Certificate shall be issued unless the applicant shall previously have;

j

I) furnished to the Unit Trust evidence satisfactory so it of ht mutilation, defacement . loss, theft or destruction of the original Unit Certificate:

1

ii) paid all expenses in connection with the investigation ofht facts:

1-

iii) (in case of mutilation or wearing out or defacement) produced and surrendered to the Unit Trust ihe mutilated or worn our or defaced Unit Certificate : and

iv) furnished to he Unit Trust such indemnity as it may require. j

{

i

The Trust shall not incur any'liability for j

\ t issuing such Certificate in good faith |

under the provisions of this clause. j

I \

! j

|

s (2) Before issuing any Certificate under the provisions of this clause, the Unit Trust j may require the applicant for the Unit Certificate to pay a fee of Rupee Five per Unit Certificate issued by it together with a sum sufficient in the opinion of ht trust to cover stamp duty, if any, or other charges that may be payable in connection with the issue and dispatch of such Certificate.

Power lo

Construe

provision XL

Delated aT| SEBI Regulations does not i permit it, j

i

I

i i

Should nay doubt arise as to the interpretation of any of the provisions, only Chairman and if no one is appointed as the Chairman then, he Executive Trustee shall have powers to construe the provisions of the Scheme, in so far such construction is not in any manner prejudicial or contrary to the basic structure of the Scheme and such decisions shall be final, conclusive and binding.
1376 THE GAZETTE OF INDJA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 ,

Relaxation II," Chairman and if nobody is appointed as Deleted as of chairman then, the Executive Trustee of the SEBI Provisions Trust in order lo mitigate hardship or for Regulations XLI smooth and easy operation of" the Scheme, does not relax any of the provisions of the scheme in permit it. case of any imitholder or class of unitholders upon such terms as may be deemed expedient under intimation to SEBI Any material changes in he provisions shall be effected with the prior approval of SHB1.

Format of Deleted Unit Certificate

PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23^002 (CHA1TRA 2, 1924) J377
ANNEXUUC III

PEF

INSERTIONS AS REQUIRED BY STANDARD OFFER

DOCUMENT1

Seri al no.

Disclaimer clause:

Regulation*, 19%, us amended till date, and filed with SE.B1, and flu- units offered for puhlic subscription have not been approved or disapproved by the SERI, nor has the SEBI certified on the accuracy or adequacy of the Offer Document.

Due Diligence Certificate : 2. Inserted us per the standard offer document

Contents: 3. Table 'Contents* inserted as per the standard offer document

4. Risk Factors IDA Mutual Funds and securities investments are subject to market risks mid the NAV of the units issued under the scheme may go up-or down depending on the factors and forces affecting the capital markets. Performance of previous schemes/plans is not necessarily an indication of future mulls. There can be no assurance that the objective of the

Risk Factors IDA Mutual Funds and securities investments are subject to market risks mid the NAV of the units issued under the scheme may go up-or down depending on the factors and forces affecting the capital markets. Performance of previous schemes/plans is not necessarily an indication of future mulls. There can be no assurance that the objective of the scheme will he achieved. PEF is only the name of the scheme and does not in any manner indicate the quality of the scheme. Derivatives: Trading in derivative securities like options &, futures is a highly specialised activity and entails greater risk than ordinary investment. Even though the scheme intends to use the activity of trading in derivatives only for portfolio hedging purposes, the overall market in these segments could be highly speculative due to the actions of the other participants in this market. The success of trading in derivatives depends upon the ability of the fund manager in predicting ihe future movement of the market and if the fund manager is incorrect in their prediction the performance of the fund could diminish compared to what it would have been if this investment strategy had not been used. Investment in overseas tnnrkot: The success of Investment in overseas market depends upon the ability of the fund manager in understanding o\' those market conditions & analysing the Information, which could be different from Indian markets, Ai this would involve operation* in foreign markets there could be exchange rote fluctuations risk beetles market risk, stuck Umllns: It Is one of the means of earning additional Income lor 1V7B THE GAZETTE OF 1 N D 1 A ^ 4 A J I C H J 3;J O O 2 _ ( C H^

i

!

i

j

i i i

the scheme with leas! risk. The risk could be in the form ol non- availability of reads stock for sale during Jiitr period the stocks remain k;tu The scheme would be exposed to risk through stock lending activity through the possibility of default by the borrower/intermediary HI reluming the lent securities. However, the risk would be adequately covered by taking in of suitable collateral from the borrower by the intermediary involved in the process, the Trust will have a lien on the u'ilntentl. the Trust wiH also have other suitable checks and controls at vaiious places to minimise any risk involved in the securities lending process.

1 I

X r'undaniental Attributes

(ai •'Fundamental attributes" mean the following,

1

1

i Type of scheme : PEF is an open end equity scheme. ii Investment objective: as provided under clause XSV of this .offer document. iii. Terms of issue : provisions in this offer document in respect df 1

! repurchase and expenses,

i

(h) Any change in the fundamental attributes of the scheme will be carried out only if:

(i) the existing members arc intimated by individual communication and (ii) an advertisement is given in English daily newspaper having circulation all over India and also in a Marathi newspaper. iiii) the members are given an option to exit at prevailing NAV without any exit load.

ie) The Board may from lime to time add to or otherwise amend this scheme and any amendment/addition thereof will be notified in the Official Gazette as required in terms of section 21(4) of the UTI Act l % 3.

(d) Any change/amendment/modification of the fundamental attributes ot the scheme will be made with the prior approval of the SEB1. In respect of other changes/amendments/modifications not being of fundamental nature and not affecting, the interest of the investor adversely. SEB1 will be kept informed.

6.

Table showing Corporate Investment in the Trust's schemes anil the

Trust's investments in these companies inserted as per the "standard

offer document'.

7, Inter-Scheme Transfers

Transfer of investments from /to this scheme to/from another Schemes/plans of the Trust shall be done only if- a) such transfers are on spot basis and are at the prevailing market pricePART III—SEI". 4J THE GAZETTE OF INDIA, MARCH 23. 2002 (CHA1TRA 2, 1924) 1379 or queued instruments.

Explanation : "spot basis" shall have the /ame meaning as specified by the siock exchanges for spot transactions.

b) the securities so transferred are in conformity with the investment objective of the schemes/ plans to which such transfers are made; and

e) transfer of unlisted or unquoted investments from/to the scheme Lo'trom another schemes/plans of the Trust are as per the policies laid down by the Board of Trustees of the Trust. Associate Transactions *S Borrowings

s,

1, The scheme shall not borrow except to meet temporary liquidity needs

of the scheme for the purpose of repurchase/redemption of units or

distribution of income, if any. to the member s.

Provided that the scheme shall not borrow more than 20% of the net

asset of the scheme and the duration of such a borrowing shall not

exceed a period of six months.

2. As per section 20 of the Unit Trust of India Act 1963 the Trust has

the following borrowing powers:

(i) The Trust may borrow, whether in India or outside India from

any authority or person, not bciny Government or the Reserve Bank,

against such security and on such terms and conditions as may be agreed

upon.

(ii) The Trust may borrow money from the Reserve Bank-

In) repayable on demand or on the expiry of a fixed period not

exceeding, ninety days from the dmc on which the money in so

borrowed, ngwinst stocks, funds and securities (other than Immovable

property) in which u trustee is authorised to invest trust money by any

Inw for the time being in force in India;

(b) repayable on demand or within a period of eighteen months from t he

date on which the money is so borrowed, against the security of the

bonds which the Trust ma)1 issue with the approval of the Central

(lovernment:

(c) on such terms and conditions and against the security of such other

property of the Truit as may be specified in this behalf by the Reserve

Bank for ihe purposes of uny scheme other than the first unit scheme:

Provided that any amount borrowed under this clause and outstanding at

any one time shall not exceed-

in) live cmres of rupees in respect of eacii such scheme: and

ih) ten cmres of rupees in respect of all such schemes in the amjrenatc,

(iii) The bonds Issued by the Trust under sub-section (ii) shall be

guaranteed by the Central Government at to the repayment of principal

and the payment of interest at such rite as may be fixed by the Central

Government at the time the bonds are issued.

72—500 ni/2001n 80 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC. 4 Vji|uj"ti"n of assets pertnipinji to this scheme

(H) Quoted investments including those under lock-in period, if any. hui except government .securities are valued at the closing market rates on ihe valuation date and in its absence, at the latest available quote within a period o|" sixty days prior to the valuation date. If no quotes are available lor a period of sijtty days prior to the valuation date, the same is treated us unquoted investment.

(h) Quoted government securities are valued at closing NSE market rates on the valuation date and in its absence the latest available quote within a period of seven days prior to the valuation date. If no quotes are avuilnble for a period of seven days prior to the valuation date the same are treated n" unquoted government securities.

(c) In case of quoted debentures and bonds, the market rate, being cum-

interest, the same is adjusted for the interest element, if any.

(d) Right entitlements for shores are valued at market rates, discounted

for dividend element, wherever applicable.

le) Unquoted preference shores/cumulative convertible preference shores

arc taken ill COM.

If) Unquoted equity shores ore valued on fair valuation basis as

determined by ih* Bourd of Trustees from time to time.

(g) Unquoted debentures bonds "nd transferable notes arc valued at yield

to maturity . linked to the yield on OOI Securities (yield curve) along

with " mark up opproved by the Doord of Trustees,

(h) Unquoted warrants arc valued at the market rate of the underlying

equity shares discounted for dividend element, if any. and reduced by

thu cxcrctac price payable. In cases where the exercise price payable is

higher than the value so derived, the value of warrants is taken as nil.

(i) Unquoted Government securities, if any, ore valued at yield to

mnturity bated on the prevailing interest rates.

(j) Convertible debentures and bonds where composite market

quotations ore not available, the convertible portion is valued at the

morket rote relevant to equity shores, discounted for dividend element, if

any, The non-convertible portion if any, of such debentures and bonds

is valued as in (g) above, Where termj of conversion are not specified in

respect of the convertible portion, the same is taken at cost.

Ik) Capital indexed bonds ore valued on cofit basis.

PART III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 ( C H A l T R ^ 2 M 9 ^ _ _ _ _ _ _ _ _ _ _ n 8 1_ {1) Valuation policies for Monev Market instruments >

(i) Money Market instruments and other assets are taken at book value, (ii) The money invested in inter bank call market is taken at cost, (iii) The money invested in discount/interest earning instruments is valued at the yield at which the instrument was last traded. For this purpose the latest available quote within a period of two working days, prior lo the valuation date is considered. When there are no quotes available in the last two working days, the instrument is valued at cost plus the difference between the face value and the cost, applied uniformly over the remaining maturity of the instrument, (iv) Other money market instruments, including unquoted debentures are valued at cost plus the difference between the face value and cost, applied uniformly over the remaining maturity of the instrument,

However, notwithstanding anything contained in respect of clauses XII, XMI, XIV & XV the investment policies, determination of NAV and valuation of assets, fixation of repurchase price and frequency of disclosure of NAV, repurchase price and portfolio would be in accordance with the provisions of SEBI (MF) Ucnulalions/Guidclincs/Dircctives issued by SEBI from time to time.

Accounting Policies

10.

1. Income recognition

O) Dividend Income on listed equity shares is accrued on the ex-

dividend date. Dividend income on unlisted equity shares and

preference shares is accounted on receipt basis.

(b) Interest on investments and commitment charges is accounted for on

accrual basis.

(el Profit or loss on sale ol investments is recogniscd'on the trade dates on the basis of weighted average cost.

(d) Profit or loss and premium on redemption of deoenture/bonds are

recognised on the due date.

(e) Underwriting commission is recognised as revenue on receipt basis when there is no devolvement. In case of dcvolvement, the full underwriting commission is reduced from the cost of such investments.

(0 Front-end fee on investments in shares and debentures is* reduced from the cost of such investments.

(g) The difference between purchase price and the maturity value in1382 THE GAZETTE OF INDIA, MARCH 23. 2&02 (CHAITRA 2, 1924) [PART III—SET. 4 respect ot zero coupon bunds, deep discount bonds and other long term discounted instruments is treated a;> income ovei the remaining life of the instrument on YTM basis.

(IT) Other income is accounted for on receipt basis.

7, Expenses

a. Expenses are accounted for on accrual basis. b. Certain common expenses incurred through Unit Scheme 1964. are allocated to the other schemes as per the provisions of Sec 25 (4) of UT1 Atl l % 3.

c. Unii Scheme 1964 which owns the fixed assets, recovers lease rent, on an approved basis, from other schemes for their usage of the said assets.

3. Investments

1

b. In ease of secondary market transactions investments are recognised on trade dates.

c. Subscription to primary market issues is accounted as investments, on allotment.

d. Bonus/right entitlements are recognised on e.\-bonus/cx-righi dates.

e. Investment vizu. debenture and bonds, are transferred to current assets on the redemption / due date.

f. The cost of investments include brokerage and service tax but does not include cost of stamps which is charged to revenue.

4, Provisions nnd Depreciation:

(A) Provisions anainst the income considered doubtful; Provision is made in respect of interest income remaining past due for iwo quarters or more. Provision is made in respect of dividend at the year end. where it remains outstanding for more than one year from the ex- dividend date.

(fi) Depreciation in the value of investments (i) The aggregate value of investments as computed in accordance with clause XII above is compared to the aggregate cost of such investments and the resultant depreciation, if any. is charged to General Reserve /

1 I 1 PARI Ill—SEC. 4] THE GAZETTEriFJNDIA, MARCH 23, 200^lCHAITRA 2 J Q 2 4 ) ^ _ _ __ 1383 Unit Premium Reserve. In ease such aggregate value exceeds the aggregate cost or the aggregate value as at the end of the previous year, ihe appreciation is added to Unit Premium Reserve/ General Reserve to ihe extern depreciation was previously adjusted.

lii) In cases where unquoted equity or preference shares were written off in ihe earlier years, the cost of such investment is written back to its cost, as and when a quote or fair value is available.

(iih, Assets where interest is remaining past due for two quarters or more are classified as non performing assets. Provision for such assets is made individually (as stated in the table below). Such provisions are not made for other performing assets of the same company.

Period lor which asset

Percentage of Provision

Remains non-performing

Secured

Unsecured

Asset

Asset

10%

10%

Upto two years

Exceeding two years

100%

20%

But upto three years

30%

100%

Exceeding three years But upto five years

50%

100%

Exceeding five years

liv) Where principal repayment remains outstanding (i) for two quarters beyond the past due period in respect of the debt instruments witli a balance maturity of not more than 3 years and (ii) for one year beyond the past due period in respect of debt instruments with a balance maturity of more than 3 years, provisions are made for such outstanding instalments. The overall provision for such assets is limited to the percentage mentioned in the above table (upto 50% for secured and 100% for unsecured assets) or the amount in default whichever is higher.

Any subsequent instalments in such .cases where the original default continues, are provided after 30 days from the respective due dates.

(v) In case of funding of interest by way of capitalisation of outstanding interest dues, the same is provided irrespective of the period of default.

(\ i) Provisions for non performing assets are charged to Unit Premium1384 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4 Reserved L-neral Reserve/ Revenue Account as the case may be.

(vii) Provisions made under paragraph 4(A) and 4(B) (iv) are written back (in receipt or on restructuring of the assets. Provisions under 4(B) (v) are written back on receipt basis.

5- Income Distribution :

(a) In respect of application money pending capitalisation, provision tor income distribution is made for schemes where units are sold at face value and for other schemes no such provision is made. The income distribution is charged to revenue appropriation account in the year of capitalisation.

(b) Provision for income distribution is made on unit capital at rates approved by the Board of Trustees from lime to lime.

ft. Publication of Financial Results: The unaudited financial results as on 31st December will be published within 2 months and audited annual results as on 30th June will be published within six months of linalisalion of accounts in one English daily and one Murathi daily.

Tax Treatment of Investments

11.

1. Rcsidcnis/NRls/OCBs

i) Taxation of income, if any. and capital appreciation, if realised, under ihe scheme will be subject to prevalent tax laws.

ii) Currently income, if any. received by all categories of investors under all schemes/plans of the Trust is totally free from tax under section 10(33) of the Income Tax Act. I % 1.

The scheme is required to pay an income distribution tax at the rate of .10% and surcharge of 10% thereon under Section 115R of Income Tax Act. I9fil nn the amount of income, if any. distributed by it. However, being open ended equity oriented fund, the scheme will not be subject to ihc said tax under the said section upto 31" March, 2002. provided more than 50% of the total proceeds of the scheme are invested in equity shares of domestic companies.

iii) Currently, any long term capital gains arising out of investment in the scheme by residents and NRIs out of rupee originated or NRO funds will be subject to treatment indicated under sections 48 and 112 of the Income Tax Act. 1961. At present the investor is required to pay tax @ 20% on long term capital gains after factoring the benefit of the CostPARr HJ—SBC. 4] THE GAZETTE OF INDIA, MARCH 23, 2(W)2 (CHAITRA 2, 1924) 1385 ntlution Index. However, the capital gums accrniny: to investments made Through NRE accoums arc noi taxable.

\v) Value of investment in units under the scheme is completely exempt from Wealth Tax.

v) The Gift Tax Act. 1958 has abolished the levy of Gift Tax in respect of units of the scheme are fully exempt from levy of Gift Tax.

2) Eligibility for Capital Gains Tax Exemption under Section 54EA

Investment of entire or part of net consideration arising out of transfer of long term capital assets in PEF will be eligible for capital gains tax exemption under Section 54EA of the Income Tax Act, 1961 subject to repurchase of units only after three years from the date of acceptance of ihe application.

3) Eligibility for Capital Gains Tax Exemption under Section 54EB

Investment of entire or part of capital gains arising out of transfer of long term capital assets in I'ef will be eligible for capital gains tax exemption under Section 54EB of Income Tox Act, I%1 subject to repurchase of units only after seven years form the date of acceptance of application.

4>For Eligible Trusts

1 Inits arc approved securities under section 1 l(2)(b) of the Income Tax Act 1%1. Eligible Trusts investing in units will therefore, qualify lor tox exemption in respect of income and corpus under sections 11 and 13 of Ilia Income Tax Act. 1961.

IriycNfopN ftjah^ $ Sypvic^

12.
I }R6 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) . [PART III—SEC, 4
5. An abridged annual report in respect ol' the I'CF shull be mailed 10 ijl! member s not later than six months from the date of closure ol' the I relevant accounting year and the lull annual report shall be available for inspection ;ii the Central Investors' Relation Cell of the Trust and a copy •iliall be made available to the member s on request on payment of nominal fee. if any. (i. Any change in the fundamental attributes of the scheme will be carried out if the investors are allowed to exit at NAV besides being intimated by individual communication 7. Under specified circumstances the approval of member s will be sought by a Postal Ballot. S. The member s have the right to inspect the following documents at the Central Investors Relations Cell, Unit Trust of India, SNDT Women's University Basement. Door No.l, Sir Vithaldas Thackersey Marg. Mmnbai 400020.

• The UTI Act <• The General Regulations •> The agreements with the custodians, registrars and paying bankers * Copy ol'Offer Document of PEF Constitution <£ Management of Unit Trust Of India

13.

Constitution of UTI I Init Trust of India was set up as a statutory body under Unit Trust of hid in Act, 1963. with a view to encouraging saving and investment and participation in the income, profits and gains accruing to the Trust from (lie acquisition, holding, management and disposal of securities. It started functioning with effect from 1st July. 1964.

Mnmtueiucnt of UTI The Management of the affairs and ^business of the Trust are vested in ihe Board ol' Trustees with a full time Chairman appointed by the Government of India. Besides the Board, there is a statutory Executive Committee comprising the Chairman and two other Trustees nominated by the Industrial Development Bank of India. This Committee is competent to deal with any matter within the competence of the Bonrd. Hoard of Trustees *

*

1. Shri I¹ K Subramanyam Chairman, Unit Trust of Indict 2. Shri 0 1' Muniappan Executive Director, RBI 3. Shri 0 P Gupta Chairman & Managing Director, IDBI 4, Shri N.S. Sekhsoria Managing Director,

Gujarat Ambuja Cements Ltd.

5. Shri Rajcndra P Chitale Chartered Accountant (\ Dr. Vishvanath V Desai Economist 7. Shri (i Krishnamunhy Chairman, L.I.C. K. ShriGGVaidya Chairman, S.B.I. ↩

PART I I I - S E T. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) _„ ¹ ³ ⁸⁷
I Shri K C Chowdhary Cliairnum &. Managing Director.

Central Bank Oflndia

' Tlic other current directorships of Hu; Trustees arc as follows:

Shri 1* S Subramanyam (i) Chairman & Director - The India Fun.1. ii) Chairmnn &. Director -India Growth Fund, (iii) Chairman &. BirccLu - India .Access Ltd. (iv) Chairman & Director - The India Public Sec or .Fund l.ul. (v) Chairman of Governing Council - UT1- lnstiuite of Captal Markets, (vi) Chairman ↩

i ™8 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART in—SEC. 4
I!

f

Gaiera! In.suianci: Corporation of India (iv) Director- Poysha Industrial ("i>. (v) Chairman, Governing Board- National Insurance Academy (vi) !)ircci"r- National Housing Bank (vii) Director- UTI Bank Ltd. (viii) Director - Discount & Finance House of India (ix) Director- Kcnindia Assurance Co. Ltd..Kenya (x) Director- IC1CI Ltd. (xi) Chairman- (invcrninii Body oflnsurance Council 7 Shri C C, V.iidya- (i) Chairman- SBI Capital Markets Ltd. (ii) Chairman- SBI Funds Management Ltd., (iii) Chairman - SB1 Gilts Ltd., (iv) Chairman - SBI Securities Ltd., (v) Chairman - SBI Factors &. Comir.'Tcia! Services Ltd.. (vi) Chairman - SBI European Bank Ltd.. (vii) Chairman - State Bank of Indore, (viii) Chairman - State Bank o!" Slum iitiru. (ix) Chairman - Stale Bank oi'Patiala, (x) Chairman - State ManV o<' Bikaner & Jaipur . (\i) Chairman - State Bank of Hyderabad. l.\ii iT.iairman - State Bank ol"Mysore, (xiii) Chairman - State Bank of Triwn icore. (xiv) Chairman - Slate Bank of India (California), (xv) i

( ' h• I X ^ I V M) - S t a te B a nk of I n d ia ( C a n a d a ), ( x v i) V i ce P r e s i d e nt of t he f

\

1

\ 1

I

r a v n i ng Council - Indian Institute of Bankers, (xvii) Director- t • i.'i,>iv.l Hank for Agriculture and Rural Development, (xviii) Director - ,:xp(-rl- Import Bank of India, (xix) Director- General Insurance . ' vpnaiimi. (xx) Member of the Governing Board & Chairman of Hiuiiiec Committee- National Institute of Bank Management , (xxi) N'L'Mber of the Governing Board, Chairman of the Finance Committee xiv) Director- Infrastructure Leasing &. Financial Services Ltd., (xxv) j Director- lixpori Credit Guarantee Corporation, | H Shri K C Cluowtllmr)¹ - (i) Chairman - Small Group on Bank Audit. ! Ip.lian Hanks' Association (ii) Chairman- Banking Operations, Indian j V ;uiks" Associotion. (iii) Chairman * Small Group on Credit Related Matters. Indian Banks' Association (iv) Chairman - IBA Working Group i\ ..• Interaction with Trade Bodies/Associations, (v) President - Indian I inks' Association, Local Chapter, (vi) Member - Managing (J ..mmiltet!. Indian Banks' Association, (vii) Chairman - Cenlbank J- omc Finance Ltd.. (viii) Chairman - Centbank Financial & Custodial Services Ltd.. (ix) Director - Agricultural Finance Corpn. of India, (x.) j", irector - Mastercard Asia/Pacific Board, (xi) Director - The New India Ajsuriiiicc Co. Ltd.,(xii) Member - Task Force, Indian Banks'

14.

Association. iViHiiitgemeiit of the Fund; irsrried. CiVHvtl'ums 15. The .Snm registration number of SHCIL is IN/CUS/011 ↩

i N;me of the fund manager alongwith his qualifications and experiencePAKT III-SHC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA2 1924) _ J 3 89 1 mill structure ot'SHCIL is as under:

electronic

Physical

Rs.5 per certificate

-

Demaiemlisalion

Purchase

Rs.lOOperDIP

5.5. basis points on The value of the Transaction

Sale

Rs. lOOperDlS

5.5 basis points on The value of the Transaction

ClISlOlU

1.5 basis points on The asset value in The custody

8 basis points on the asset value in the Custody |

-

Off market Purchases

5.5 basis points or

(he value of the

Transaction

HIT market

Sales

5.5 basis points c

lhe value of the

Transaction

Rematerialisalion

Rs.15 per certificate Or 15 basis points of Conversion value Whichever is higher

.•lw///"r.v

Id.

M's. Chalurvcdi &. Company. Chartered Accountants, 60. Bentik Street. Calcutta 700 069 and M/s Balliboi & Purohit. Chartered Accountants, National Insurance Building. 204. D N Road. Fort. Mumbai 400 001. The auditors of the scheme are appointed by the IDBI and they are subject to change from year to year.

Ki'sistrnr:

17.

UTI Investors' Services Limited- SEBI Registration no. INR00000121- liave been appointed as the Registrar and transfer agent.

ll has been ascertained that the Registrars have adequate capacity to discharge its responsibilities with regard to processing of applications, transfer forms and repurchase requests, despatch of Membership Advice/Unit Certificates and income distribution warrants within the prescribed time frame and also handle investor complaints.

,390 THE GAZETIEOFJNDIA^MARCH 23, 2002 ( C H A ^ A 2 l i ! ! l L ^ - - i ^¹l £ z f ! ' £d Processing of applications and after sales services will be handled from the following branches of the Registrars:

Western Zone: Plot No.369. \4arol Maroshi Road. Near Marol- Maroshi Bus IX-pi. Vijay Nagar. Andhcri (E). Mumbai 400 059.

hast Zone: 2. Fairlic Place. 1st Floor. P.B.No.60. Calcutta 700 001.

(

¹

\i

South Zone: 45. Justice Basheer Ahmed Syed Building. Second line Beach. Chennai600 001. North Zone (excluding Uttar Pradesh); Kanchanjunga Bldg., Upper C.i-oniKl llooi. 18 Barakhamba Road. New Delhi 110 002. l.ucknow (For the State ol'Uitar Pradesh only): .8 & 9, 2nd Floor. Saren ('hiimbers 5. Park Road. Lucknow 226 001. 1 ;ihlc show in» Investors' Grievance Retlressal data inserted 19. PENALTIES. PENDING LITIGATIONS. MATERIAL FINDINGS OF INSPECTIONS/ INVESTIGATIONS 1. There ure no cases relating to penalties awarded by SEBI under the SllBI Act or any of its regulations or by any Stock Exchanges (where the- units of the schemes of UTI are listed) against the Unit Trust of liului/Board of Trustees, or any of the Trustees or key personnel (spceilienlK the fund managers). 2- There :ire no pending material litigation proceedings incidental to the business of the Unit Trust of India including the Board of Trustees or any of the trustees or key personnel. There are no pending criminal cases against the Unit Trust of India. Board of Trustees or any of the Trustees or key personnel. .V Neither SEBI nor any other Regulatory Agency has specifically advised that any deficiency in the systems and operations of the Unit Trust ol" India be disclosed in the offer document. 4. There are no enquiry/adjudication proceedings under the SEBI Act ;ind the Regulations made thereunder, against Unit Trust of India. Board of Trustees/Trustee or key personnel. Tuhic ^iviiiK condensed financial information inserted 20. ↩

PAJJT III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1391
ANNEXUREI

MASTER INDEX FUND- PROVISIONS MODIFIED / INSERTED

Existing Provisions Clause No.

Open to resident and non resident Highlights adult individuals / mentally 3rd item handicapped persons/ minors/ HUFs/ Trusts/ Societies/ Regd. Co-operative Societies/ Bodies Corporate including Companies and Banks/ Overseas Corporate Bodies (OCBs)/Army/Navy/Air Force/Paramilitary Funds/PSUs/Financial Institutions /Partnership Firm/FIIs.

No provision exists Highlights 6th Item

' Highlights No provision exists 8th to 11th items

Amended Provisions

Open to resident individuals and institutions as well z 3 to NRIs, OCBs and Fits

Open to resident and non resident adult individuals / mentally handicapped persons/ minors/ HUFs/ Trusts/ Societies/ Regd. Co-operative Societies/ Bodies Corporate including Companies and Banks/ Overseas Corporate Bodies (OCBs)/Army/Navy/Air Force/Paramilitary Funds/PSUs/Financial Institutions /Partnership Firm/FIIs.

Switchover facility from the scheme to such other schemes which may be announced by the Trust from time to time or vice versa at NAV or NAV based price • Capital gains arising from capital appreciation, if any, on repurchase of units is subject to tax benefits under sections 48 & 112 of Income Tax Act, 1961.

• Investment eligible for availing of capital gains tax exemption under sections 54EA and 54EB of the Income Tax Act, 1961, depending upon the source of fund subject to repurchase of units only after lock- in-period of three/seven years respectively from the date of

• acceptance of the application.

• Value of investment in units under the scheme is completely exempt from Wealth Tax.

• The Gift Tax Act, 1958 has abolished the levy of Gift Tax mH92 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART I I I ~ S E C. 4

respect of gifts made on or after 1st October 1998. Thus gifts of units of the scheme are fully exempt from levy of Gift Tax.

Definitions n(d) (d) "Applicant" means a person who is eligible to participate in the scheme and plan made thereunder who is not a minor and shall include the alternate applicant mentioned in the application form when units are sold for the benefit of a mentally handicapped person and makes an application under Clause IV of the Plan. "Applicant" means a person who is eligible to participate in the scheme and plan made thereunder and makes an application under clause IV of the scheme and who is not a minor

Definitions n(h) (h) "Mentally handicapped person" means any individual who suffers from mental disability oi such a nature which prevents him from carrying out normal activities of life. We may delete the definition from the offer document

Definitions II(ma) No provision exists {ma) "RBI" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934.

Risk Factors No provision exists for Derivatives, Stock Lending & Overseas Investment Derivatives: Trading in derivative securities like options & futures is a highly specialised activity and entails greater risk than ordinary investment. Even though the scheme intends to use the activity of trading in derivatives only for portfolio hedging purposes, the overall market in these segments could be highly speculative due to the actions of the other participants in this market. The success of trading in derivatives depends upon the ability of the fund manager in predicting the future movement of the market and if the fund manager is incorrect in their prediction the performance of the fund could diminish compared to what it would have been if this

PART 111—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1393

investment strategy had not been used. Stock Lending: It is one of the means of earning additional income for the scheme with least risk. The risk could be in the form of non- availability of ready stock for sale during the period the stocks remain lent. The scheme would be exposed to risk through the possibility of default by the borrower/intermediary in repaying the securities. However, the risk would be adequately covered by taking in of suitable collateral from the borrower by the intermediary involved in the process. The Trust will have a lien on the collateral. We will also have other suitable checks and controls at various places to minimise any risk involved in the securities lending process.

an individual for the benefit of Units & another individual who is a Offer IV 5(i)(d) ' mentally handicapped person. We may delete the same from the offer document

No provision existed for this Units & category of intended investors Offer IV 5(i) (n) New subclause (n) may be inserted as (n) any body established or controlled by or under a State or Central Act

Units & No provisions exists Offer IV(8) fii)(c) In case of FUs, the statement of account will be sent to their global custodian or at the address furnished in the application. Every member wifl receive an updated statement of account each time any additional purchase or partial repurchase or switchover of units is made

Every member will receive an Units & updated Statement of Account Offer each time any additional purchase or partial repurchase of units is IV(8) (iii) made under a folio

1394 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
No provisions exists

Units & Offer

IV 10(x) c

Sale of units

(2)

(i) Applications will be accepted only at the UTI branches in the following cities: Mumbai, Calcutta, New Delhi, Chennai, Bangalore, Hyderabad, Ahmedabad Ludhiana, Surat ,Indore, Rajkot, Baroda, Kanpur, Jaipur, Lucknow, Patna, Pune, Cochin, Thimvanthapwam and Trichur. The payment for units by an applicant shall be made by him alongwith the application in cash, cheque or draft. Cheques or drafts should be drawn on branches of banks within the city where the designated UTI branch office at which the application is tendered is situated.

In case of FIIs, repurchase proceeds to be credited to the Special Non- Resident Rupee Account or as per instructions issued by SEBI/RBI from time to time. (a)Applications will be accepted only at the branches of the Trust in the following cities: Mumbai, Calcutta, New Delhi, Chennai, Bangalore, Hyderabad, . Ahmedabad Ludhiana, Surat ,Indore, Rajkot, Baroda, Kanpur, Jaipur, Lucknow, Patna, Pune, Cochin, Thiruvananthapurarn and Trichur. The payment for units by an applicant shall be made by him alongwith the application in cash, cheque or draft. When applications are submitted at the branch offices of the Trust, cheques or drafts should be drawn on branches of banks within the city/town where the branch office of. the Trust at which the application is tendered is situated.

(b) If the payment is made by a cheque/draft, the acceptance. of an application will be subject to such cheque/draft being realised.

(c) If, the application amount is less than the minimum investment under the scheme, the entire amount shall be refunded to the applicant at his cost without any interest or in such manner as the Trust may de*em fit.

Provided, however, that the applicant who applies from a place other than where the Trust has its designated branch office may do so by sending the application to the branch office of the Trust along with the bank draft after deducting therefrom charges payable for bank draft as per guidelines of Indian Banks Association e.g. if the application amount is Rs. 10,000/- the bank draft charges for this amount is Ra.20/-. Thus the draft can be prepared for Rs.9,980/-(i.e. Rs. 10,000 less Rs.20/-). The draft commission charges will form a part of the initial issue expenses of the Plan. However, in case of applications

(d) NRIs should submit their applications preferably at the NRI Branch, Mumbai or at any of the Branches of the Trust mentioned at (a) above alongwith NR(E)/NR(O) cheque or a rupee draft payable at thePART III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1395

place where the application is received along with local bank submitted. draft where the Trust has its designated branch office bank draft commission will have to be borne by the investor. 1. Mode of payment for NRI investment with repatriation (ii) If the payment is made by benefits cheque, the acceptance date will, The investments by NRIs/OCBs shall subject to such cheque being realised, be the date on which the carry the right of repatriation of application is received by the capital invested, income earned branch office of the Trust. thereon and capital appreciation so long as the investor continues to be resident outside India. Investment in If payment is made by draft, the acceptance date will, subject to these cases can be made through one such draft being realised, be the of the following modes: date on which the application is received by the branch office of (a) By a draft in rupees issued in the Trust. If the application favour of the Trust by a amount is less than the minimum bank/exchange house .operating investment under the plan, the outside India drawn on their entire amount shall be refunded to Indian correspondent banks, the applicant at his cost in such (b) By a cheque drawn on the manner as the Trust may deem fit. investor's NRE account maintained with a bank in India, (c) By a cheque/draft issued from the iii) Mode of Investment with proceeds of FCNR deposits of the repatriation benefits investor. The investments by NRIs/OCBs shall carry the right of repatriation of capital invested and capital Note: Payment in Nepalese and appreciation earned thereon, as Bhutanese currencies are not long as the investor continues to accepted. be resident outside India. Investment in these cases can be 4) Mode of payment for NRI made through one of the investment without following modes: repatriation benefits Draft in foreign currency a) Where funds held in NRO accounts are utilised for purchase Draft in rupees issued in favour of of units, the funds so invested and UTI by foreign banks/Exchange capital appreciation (if any), will House drawn orr their Indian not qualify for repatriation out of correspondent banks. India. Similarly, investments in units purchased in rupees while the investor was a resident of By cheque drawn on investor's

74—5(W GI/20011396 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART H—SEC. 4

NRE account maintained with a Bank in India. By cheque/draft issued from the proceeds of FCNR deposits. Further, payment in Nepalese and Bhutanese currencies are not accepted. Investment in units is made in rupees, all foreign currency drafts are converted into Indian rupees at the rate of ex- change ruling at the time of such conversion. Shortfall, if any, will have to be remitted by NRI investors. In view of the above it is advisable that NRI/OCB investors make payment by instruments mentioned at (b) & (c) above. iv) Mode of investment without repatriation benefits i Where funds held" in NRO accounts are utilised for purchase of units, the funds so invested and capital appreciation earned thereon, will not qualify for repatriation out of India. However as per RBI circular A.D. (MA. Series) No.18 dated August 19, 1994 the entire income earned thereon during the ilnancial year 1996-97 and onwards will qualify for full repatriation. India and becomes non-resident subsequently will not qualify for repatriation of sale proceeds of units, b) As per RBl circular A.D.(M.A. Series) No. 18 dated August 19, 1994 the entire income earned thereon during the financial year 1996-97 and onwards will qualify for full repatriation. In such cases the Trust will make payment in Rupees for credit to NRO A/C. Investors are advised to contact their banks/tax, consultants if they desire remittance abroad of the income.distribution on units. 5. Investment by FIIs should be through payment by debit to the Special Non resident Rupee Account maintained with a designated bank/authorised dealer, approved by RBI.

Sale of units VI (3) - Correction in heading Application by and registration of eligible institution, minors, an applicant for the benefit of a mentally handicapped persorj etc. Application by and registration of eligible institution, minors etc.

PART 111—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1397

Sale of Units VI PXiii) (in) Where an application is made by an individual for the benefit of another individual who is a mentally handicapped person, the Trust shall act on the statements furnished and in doing so the Trust shall be deemed to be acting in good faith. The Trust shall be entitled to deal only with the applicant and in the event of his death, the alternate applicant for all practical purposes and any payment in respect of the units by the Trust to the said applicant or the alternate applicant shall be a good discharge to the Trust. May be deleted i

Sale of Units VI (5) Persons applying for units under the Scheme and the Plan made thereunder on behalf of a minor/mentally handicapped person shall satisfy the Trust about their eligibility to make an application and comply with all requirements of the Trust such as Birth Certificate in case of minor/Oculist or Psychiatrist Certificate in case of Mentally handicapped. Applications for units on behalf of bodies like Partnerships/Co- operative Societies/Bodies Corporate/Companies shall be accompanied by certified copy of Partnership Deed of the Partnership/Trust Deed of the Trust/ Bye-Law of the Society/Statute governing the a) Persons applying for units under the scheme on behalf of a minor shall satisfy the Trust about their eligibility to make an application and comply with all requirements as laid down by the Trust such as submission of the Birth Certificate in case of minor. b) Applications for units on behalf of bodies like Partnership Firms/Co- operative Societies/Bodies Corporate/Companies shall be accompanied by certified copy of Partnership Deed/Bye-Laws of the Society/Statute governing the Body Corporate/Memorandum and Articles of Association of the Company together with Resolution of the governing Body authorising investment in the scheme. At the time of repurchase of the units, resolution

HOft THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
of the governing body authorising repurchase, and authorisation of the concerned official(s) of the Body to comply with the formalities and collect the repurchase cheque will have to be submitted.

c) Person who holds units under a false declaration shall be liable to have the membership cancelled and the name deleted from the register of members.

Body Corporate/Memorandum and Articles of Association of the Company together with Resolution of the governing body authorising investment in the scheme. At the time of repurchase of the units, resolution of the governing body authorising repurchase and authorisation of the concerned official (s) of the Body to comply with the formalities and collect the repurchase cheque will have to be submitted.

i

Person who holds units under a false declasation shall be liable to have the membership cancelled and the name deleted from the register of members.

d) In aforesaid cases, the Trust shall have the right to repurchase the units at par or NAV whichever is lower after deduction of 25% as penalty or at such price as may be decided by the Trust, and recover the Income Distribution,if any, wrongly paid from out of the repurchase proceeds and return the balance. The amount shall not carry any interest irrespec- tive-"f the period it takes the Trust to effect the repurchase and to remit the repurchase proceeds to the applicant.

The Trust shall have the right in such an event to repurchase the units at par after deduction of 25% as penalty or at such price as may be decided by the Trust, and recover the Income Distribution wrongly paid from out of the repurchase proceeds and return the balance.

The amount shall not carry any interest irrespective of the period it takes the Trust to effect the repurchase and to remit the repurchase proceeds to the applicant.

Sale of Units

VI (6)

(i) Nomination facility is available only for individuals applying on their own behalf i.e. singly or jointly upto two.

(i) Nomination facility is available only for individuals applying on their own behalf i.e. singly or jointly upto two. Applicants can nominate one person. Minors and Non-Resident ii)Only one person can be nominated.
PART HI—SEC. 4] TH£ GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1399

Indians can also be nominated. Non-Resident Indians can be nominated as per the guidelines issued by the RBI from time to time. Applicant can change the nomination at any time during the currency of the plan, (ii) Members being either parent or lawful guardian on behalf of a minor and an eligible institution, societies, bodies corporate, HUF, partnership firms and an applicant who has applied for units for the benefit of a mentally handicapped person shall have no right to make any nomination, (iii) Legal validity of Nomination: the facility of. the statutory nomination is available to a member under Section 39 A of the Unit Trust of India Act 1963. Accordingly, where a nomination in respect of any unit has been made in accordance with the UTI General Regulations, 1964, the amount payable to the member in respect of the said unit shall on the death of the member vest in, and be payable to the nominee in any case subject to any right, title; claim or other interest of any other person to or in respect of the said units as provided in such regulations and subject to any charge or encumbrance over the said units. Payment made by the Trust as aforesaid shall be a full discharge to the Trust from all liability in respect of the said units.

Repurchase of units Repurchase shall be effected on receipt of the repurchase slip duly

1400 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
vn(3)

signed by the unitholders. Partial repurchase will be allowed, provided that no repurchase so made should result in the member's holding falling below Rs5,000/-(face value).

partial repurchase shall be permitted subject to the member maintaining a minimum balance of Rs.5000 per folio to be computed at the repurchase price applicable as on the date of acceptance of repurchase application. The contract for repurchase shall be deemed to have been concluded on the acceptance date for repurchase.

No existing provision

Repurchase of units VH (10) (c)

In case of FIIs, repurchase proceeds will be credited to the Special Non- Resident Rupee Account or as per instructions issued by SEBI/RBI from time to time.

No existing provision

Switchover

Repurchase of units VH(13)

Members under the scheme will be permitted to switchover their investment from the scheme to such other schemes or vice versa which may be allowed by the Trust from time to time. In such a case they may apply for the switchover by submitting their request in the prescribed form duly signed. The switchover will be effected at NAV or NAV based price as may be decided by the Trust. Partial switchover from the scheme to such other schemes or vice versa which may be announced by the Trust from time to time should satisfy the condition of holding minimum investment limit under both the schemes. The Trust shall retain the statement of account/ unit certificate for cancellation and the member shall be issued fresh statement of account/ unit certificate as the case may be, of both the schemes. Investment made in the scheme for the purpose of availing benefits under section 54EA/54EB of the Income Tax Act 1961 shall not be permittedPART HI—Sue. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1401

Repurchase of units VII (ID to be switchover before the expiry of the lock-in-period of 3 and 7' years respectively.

Bank Particulars : As a matter of precaution against possible fraudulent encashment of cheques due to loss/ misplacement, applicants are requested to give the full particulars of their bank account (i.e. nature of account, account number and name of bank) at the appropriate space in the application form. Repurchase cheques will then be made out in favour of the bank for crediting their account so specified and sent to them. Members may deposit the repurchase cheque in the said bank for credit of their account. In case the complete bank particulars are not given, the repurchase cheques will be issued in the name of the member (first member in case of jointholding or holding on either or survivor basis). In such case, UTI and the bankers will not be responsible if loss occurs through the cheques falling into improper hands through forgery or fraud. In order to avoid fraudulent encashment of repurchase/maturity cheques, SEBI has made it mandatory for the investors, in their own interest to give bank particulars at the. appropriate piace in the application form. Bank particulars of investors: (i) In order to avoid fraudulent encashment of Income Distribution Warrants/Repurchase cheques/Maturity cheques, SEBI has made it mandatory for investors, in their own interest to give bank particulars at the appropriate place in the application form. Applications without bank particulars will be rejected. Accordingly, applicants residing outside the eleven cities given at item (ii) below are requested to give the full particulars of their bank account (i.e. nature of account, account number and name of bank) at the appropriate space in the application form as well as on the -acknowledgement receipt portion for record. Income Distribution Warrants/ repurchase cheques will then be made out in the name of the member with the bank particulars for crediting the member's account so specified and sent to them. Electronic clearing Service: (ii) Currently ECS facility is being made available to investors from Mumbai/Calcutta/ Chennai/New Delhi/ Ahmedabad/ Baroda/ Pune/ Bhubaneshwar/ Bangalore/ Hyderabad/ Jaipur for direct credit to their bank accounts at the respective centres and where the amount of single instrument does not exceed Rs.5,00,000/-. The investor will be given a statement giving details of credit to his bank account. (iii)The bank branch of the investor will credit his account and indicate

W 1 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PAITT III—SEC. 4

the credit entry with "ECS" in the passbook/ statement of bank account. The applicant is requested to fill up the particulars of name and address of his bank, nature and number of account, 9 digit Bank and branch MICR code no. etc. in the application form. (iv)In case the response to this facility is not sufficient enough or for any other reasons, the Trust may pay the income by issue of income warrants incorporating bank account details instead of paying income through "ECS". v) Income Distribution to NRI/OCBs investors Income distribution to NRI/OCBs investors shall be made as per the Exchange Control Regulations. The present position regarding payment of income is as follows: a) The warrant can be issued in the name of the member and sent-to a relative who is resident in India for crediting the NRE/NRO account of the member, as the case may be. OR b)The warrant can be issued in the name of a relative who is resident in India and sent to him for being credited to his account. vi)ECS facility is also available to NRI investors who have their own bank accounts in Mumbai. For those NRI investors who wish to credit the income distribution to their resident relative's account, ECS facility could be extended to them at places as indicated in sub

PART III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1403
clause IV(10)(x).

Any change in the fundamental attributes of the scheme will be carried out only if;

Fundamenta 1 Attributes DC (3) last: two paras Investment Objectives, policies & Stock Lending IX(4) Any change in the attributes of the scheme will be carried out only with the consent of not less than the members. Further in the event of change in the attributes, those who do not give their consent will be allowed redeem their holdings scheme. The Board may time to time add to or otherwise amend this scheme amendrrient/ addition thereof will be notified in the official Gazette, In cose of any amendments prior approval of SEBI obtained. The existing provisions will be replaced by under item 1 of annexure III.

Nav Dcterminati on& Valuation of Assets XII (2) The existing provisions will be replaced by under item 2 of annexure III

Accounting The existing provisions will be

(i) the existing members are intimated by individual communication and (ii) an advertisement is given in English daily newspaper having circulation all over India and also in a Marathi newspaper. (iii) the members are given an option to exit at prevailing NAV without any exit load.

Any change in the fundamental attributes of the scheme will be carried out only with the consent of not less than three-fourths of the members. Further in the event of change in the fundamental attributes, those who do not give their consent will be allowed to redeem their holdings in the scheme. The Board may from time to time add to or otherwise amend this scheme and any amendrrient/ addition thereof will be notified in the official Gazette, In cose of any amendments prior approval of SEBI shall be obtained.

The Board may from time to time add to or otherwise amend this scheme and any amendment/ addition thereof will be notified in the Official Gazette as required in terms of Unit Trust of India Act, 1963. Any change/ amendment/ modi- fication of the fundamental attributes of the scheme will be made with the prior approval of the SEBI. In respect of other changes/ amendments/ modifications not being of fundamental nature and no; affecting the interest of the investor adversely, SEBI will be k"pt informed.

Refer annexure III.

The existing provisions will be replaced by the provision given under item 1 of annexure III.

Refer annexure III.

The existing provisions will be replaced by the provision given under item 2 of annexure III

The existing provisions will be Refer annoxure III,

75—509 CH/200!
1404 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
Policies XBj ( replaced by the provision given under item 3 of annexure III.

Refer annexure HI.

\ The existing provisions will be replaced by the provisions given under item 4 of annexure HI.

Tax treatinen;: b''< InvestmecV:

i

"v ,^

No provision exists

The following may be inserted as item (6) and existing item (6) and (7) should be renumbered accordingly Investors" Rights & Services XV

!

i

!

(6) Any change in the fundamental attributes of the scheme will be carried out only with the consent of not less than three-fourths of the members of the scheme. Further, in the event of a change in the fundamental attributes, those who do not give their consent will be allowed to redeem their holdings 4n the scheme.

Refer annexure III,

tVhe existing information will be \ />dated cs given under item 5 of annexure III.

1 rThe existing information will be Refer annexure III,

updated as given under item 6 of anne;d',re III in respect of tjusto plans / auditors.

Constitutive & Manage- meet of Vv.u Trust of India X \1 Other, service Provides for the " scheme \

xvn ^

Refer annexure III.

The Existing information will be uniatcd as given under item 7 of m ud ure HI.

i i

Vi.orl are no pending material" ijiVfaiion proceedings incidental to tht business, of the Unit Trust otr ln';|ia including the Board of Truj>|fces or any of the trustees or key personnel.

Investors' Grievance •• Redressai '* X V I U _ _j Penalties, Pending Litigations, Material Findings o,V Inspections/ Investiga-

There are no pending material litigation proceedings incidental to the business of .the Unit Trust of India including the Board of Trustees or any of the trustees or key personnel. There are no pending criminal cases against the Unit Trust of India, Board of Trustees or any of the Trustees or key_ personnel.

tions XIXm _JPART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHA1TRA 2, 1924) 1405

V Penalties, Pending Litigations, Material Findings of Inspections/ Investiga- tions Clause XIX (4) Condensed Financial Information XX No provisions exists The existing provisions will be replaced by the provisions given under item 8 of annexure III Neither SEBI nor any other Regulatory Agency has specifically advised that any deficiency in the systems and operations of the Unit Trust of India be disclosed in the offer document. Refer annexure III.

1406 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
ANNEXUKE II

MASTER INDEX FUND -PROVISIONS DELETED

Clause No, Investment objectives, Policies & Stock Lending IX

Remarks Deleted; since this clause is modified and incluJ'. w a part of Valuation of Assets under item ofannexure III

Existing provisions However, notwithstanding anything contained in respect of clauses IX (4), XII (]) and XII (2) above the valuation of asset's , computations of NAY, repurchase price and their frequency of disclosures would be in accordance with the provisions of SEBI (MF) Regulation / Guidelines / Directives issued by SEBT form time to time.
PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1407
ANNEXURE III

MASTER INDEX FUND

Sr. No.

1.

PROVISIONS AS REQUIRED BY STANDARD " OFFER DOCUMENT" Clause IX (4) investment Policies

(i) No term loans will be advanced by this scheme.

(ii) The Trust shall buy and sell securities on the basis of deliveries and shall in all cases of purchases, take delivery'of relative securities and in all cases of sale, deliver the securities and shall in no case put itself in a position whereby it has to make short sale or carry forward transaction or engage in badla finance, (iii) The Trust shall get the securities purchased by it transferred in its name, (iv) Subject to requisite authorisations, the Trust, in appropriate circumstances, may use techniques and instruments, such as futures and options and other derivatives subject to applicable regulations and counter- party risk assessment, as prescribed by SEB1 from time to time, for the purposes of achieving the investment policy of the scheme or hedging or minimising the risk. (v)(a)The scheme will participate in the stock lending programme, in accordance with the terms of securities lending scheme announced by SEBI. The activity shall be carried out through approved intermediary. .(b)The maximum exposure at any point of time of the scheme towards to a single intermediary in the stock lending programme at any point of time would be 10% of the market value of the equity portfolio of the scheme or such limit as maybe specified by SEBI. (c) If mutual funds and the Trust are permitted to borrow stocks the scheme may in appropriate circumstances borrow stocks in accordance with SEBI guidelines in that regard, (vi) The scheme may inv osi in securities issued by overseas/foreign companies and listed abroad or securities issued by Indian corporates to foreign/overseas investors and listed on foremen stock exchange directly by subscribing to such issues or purchasing them on lurcign stock exchanges in accordance with the SEBI / RBI guidelines in that regard from time to time.

(vii) The scheme shall not make any investment in; a) any unlisted security of an associate or group company of the Trust; or b) any security issued by way of private placement by an associate or group company of the Trust; or c) the listed securities of group companies of the Trust which is in excess of 25% of the net assets of all the schemes of the Trust.
1408 THE GAZETTE DF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

(viii) The services of UTI Securities Exchange Limited (UTI SEL) a stock-broking firm and wholly owned by UTI may be utilised for securities transactions of the scheme as per the policies and subject to the limits laid down by the Board of Trustees of the Trust. UTI SEL was set up in 1994, with registered office at Mumbai. IX (5) Table showing Corporate investment in the Trust's Schemes and the Trust's investments in these companies as per the latest data available

2. XII (2) - Valuation of assets pertaining to this scheme (a) Quoted investments including those under lock-in period, if any, but except government securities are valued at the closing market rates on the valuation date and in its absence,- at the latest available quote within a period of sixty days prior to the valuation date. If no quotes are available for a period of sixty days prior to the valuation date, the same is treated as unquoted investment. (b) Quoted government securities are valued at closing NSE market rates on the valuation date and in its absence the latest available quote within a period of seven days prior to the valuation date. If no quotes are available for a period of seven days prior to the valuation date the same are treated as unquoted government securities. (c) In case of quoted debentures and bonds, the market rate, being cum- interest, the same is adjusted for the interest element, if any. (d) Right entitlements for shares are valued at market rates, discounted for dividend element, wherever applicable. (e) Unquoted preference shares/cumulative convertible preference shares are taken at cost. (f) Unquoted equity shares are valued on fair valuation basis as determined by the Board of Trustees from time to time. (g) Unquoted debentures bonds and transferable notes are valued at yield to maturity , linked to the yield on GOI Securities (yield curve) along with a mark up approved by the Board of Trustees. (h) Unquoted warrants are valued at the market rate of the underlying equity

PART III—SEC. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHATTRA 2, 1924) 1409

shares discounted for dividend element, if any, and reduced by the exercise price payable. In cases where the exercise price payable is higher than the value so derived, the value of warrants is taken as nil. (i) Unquoted Government securities, if any, are valued at yield to maturity based on the prevailing interest rates. (j) Convertible debentures and bonds where composite market quotations are not available, the convertible portion is valued at the market rate relevant to equity shares, discounted for dividend element, if any. The non-convertible portion if any, of such debentures and bonds.is valued as in (g) above. Where terms of conversion are not specified in respect of the convertible portion, the same is taken at cost. (k) Capital indexed bonds are valued on cost basis. (1) Valuation policies for Money Market instruments :- (i) Money Market instruments and other assets are taken at book value, (ii) The money invested in inter bank call market is taken at cost, (iii) Th" money invested in discount/interest earning instruments is valued at the yield at which the instrument was last traded. For this purpose the latest available qu6te within a period of two working days, prior to the valuation date is congidercd. When there are no quotes available in the last two working days, the instrument is valued at cost plus the difference between the face value and th* cost, applied uniformly over the remaining maturity of the instrument, (iv) Other money market instruments, including unquoted debentures are valued at cost plus the difference between the face value and cost, applied uniformly, over the remaining maturity of the instrument. However, notwithstanding anything contained In respect of clauses IX and XT1, the investment policies, determination of NAV and valuation of assets, fixation of repurchase price and frequency of disclosure of NAV, repurchase price and portfolio would be in accordance with the provisions of SEB1 (MF) Regulations/Guidelines/Directives issued by SEBI from time to time.

3. XIII. Accounting Policies 1. Income recognition

1410 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC, 4
(a) Dividend Income on listed equity scares is accrued on the ex-dividend date. Dividend income on unlisted equity shares and preference shares is accounted on receipt basis.

(b) Interest on investments and commitment charges is accounted for on accrual basis.

(c) Profit or loss on sale of investments is recognised on the trade dates on the basis of weighted average cost.

(d) Profit or loss and premium on redemption of debenture/bonds are recognised on the due date.

(e) Underwriting commission is recognised as revenue on receipt basis when there is no devolvement, In case of devolvement, the full underwriting commission is reduced from the cost of such investments.

(f) Front-end fee on investments in shares and debentures is reduced from the cost of such investments.

(g) The difference between purchase price and the maturity value in respect of zero coupon bonds, deep discount bonds and other long term discounted instruments is treated as income over the remaining life of the instrument on YTM basis.

(h) Other income is accounted for on receipt basis.

2. Expenses

a. Expenses are accounted for on accrual basis. b. Certain common expenses incurred through Unit Scheme 1964, aro allocated to the other schemes as per the provisions of Sec 25 (4) of UTI Act 1963.

c. Unit Scheme 1964 which owns the fixed assets, recovers lease rent, on an approved basis, from other schemes for their usage of the said assets.

3. Investments

a. Investments arc stated at cost or written down cost,

b. In ense of secondary market transactions investments are recognised on trade dates.
PART III—SEC. 41 THE GAZETTE OF INDIA, MARCH 23. 2002 (CHAITRA 2, 1924) 1411

c. Subscription to primary market issues is accounted as investments, on allotment d. Bonus/right entitlements are recognised on ex-bonus/ex-right dates. e. Investment viz., debenture and bonds, are transferred to current assets on the redemption / due date. f. The cost of investments include brokerage and service tax but does not include cost of stamps which is charged to revenue. 4. Provisions and Denreciation: (A) Provisions against the income considered doubtful: Provision is made in respect of interest income remaining past due for two quarters or more. Provision is made in respect of dividend at the year end, where it remains outstanding for more than one year from the ex- dividend date. (B) Depreciation in the value of investments (i) The aggregate value of investments as computed in accordance with clause XI 1(2) above is compared to the aggregate cost of such investments and the resultant depreciation, if any, is charged to General Reserve / Unit Premium Reserve. In case such aggregate value exceeds the aggregate cost or the aggregate value as at the end of the previous year, the appreciation is added to Unit Premium Reserve/ General Reserve to the extent depreciation was previously adjusted. (ii) In cases where unquoted equity or preference shares were written off in the earlier yeari), the cost of such investment is written back to its cost, as and when a quote or fair value is available. (iii) Assets where interest is remaining past due for two quarters or more are classified as non performing assets. Provision for such assets is made individually (as stated in the table below). Such provisions are not made for other performing assets of the same company. Period for Suliich asset Percentage of Provision Remains non-performing Unsecured Secured Asset Asset

76—5(W GI/2(K)I!4!2 T"1F f.AZF.rP.: OF INDIA. MARCH 23, 2002 (CHATTRA 2, 1924) [PART III—SEC. 4 Upt!--t\\ o years

10%

10%

20% 100%

E?Ci'-c:Ji:ig two years But i".pt'.i three years

30% 100%

Exceeding three years But upto five years

- 50%

100%

Exceeding five years

uv_j Where principal repaymeru remains outstanding (i) for two quarters beyond the past due period in respect of the debt instruments with a balance maturity of not more than 3 years and - (ii) for one year beyond the past due period in respect of debt instruments with a balance maturity of more than 3 years, provisions are made for such outstanding instalments. The overall provision for such assets is limited to the percentage mentioned in the above table (upto 50% for secured and 100% for unsecured assets) or the &nic>vnl in default whichever is higher. Any subsequent instalments in such esses where the original default continues, are provided after 30 days from the respective due dates.

I

; (v) In case .of funding of interest by way of capitalisation of outstanding j interest dues, the same is provided irrespective of the period of default.

(vi) Previsions for non performing assets are charged to Unit Premium Reserve/Genera! Reserve/ Revenue Account as the case may be. •

i

(vii) Provisions made under paragraph 4{A) and 4(B) (iv) are written back on receipt or on restructuring of the assets. Provisions under 4(B) (v) are i written back on receipt basis. - i

| 5. Publication of Financial Results;

The unaudited financial results as on 31st December will be published within 2 months and audited annual results as on 30th June will be published within six months of finalisation of accounts in one English daily and one Maratfai daily,

j

1 . .
PART IIK-Srr. 4] THE GAZETTE OF INDIA. MAKCH H 2002 (C.HAITRA 2, 1924) 1413
4. XIV. Tax Treatment of Investments

1. Tax Treatment

(A) Kesidents/JVR/&'0C05

(I) Taxation of income, if any, and capital appreciation, if realised, under the scheme will be subject to prevalent tax laws.

(ii) Cunently income, if any, received by all categories of investors under all schemes/plans of the Trust is totally free from tax under section 10 (33) of tlu Income Tax Act, 1961.

1. The scheme is required to pay an income distribution tax at the rate of 10% and surcharge of 10% thereon under Section 115R of Income Tax Act. 1961 on the amount of income, if any, distributed by it. However, being open ended equity oriented fund, the plan will not be subject to the said tax under the said section upto 3T' March, 2002. provided more than 50% of the total proceeds of the scheme are invested in equity shares of domestic companies.

iii> Currently, any long term capital gains arising out of investment in the scheme by residents and NKJs out of rupee originated or NRO funds will be subject to treatment indicated under sections 48 and 112 of the Income Tart Act, 1961. At present the investor is required to pay tax @ 20% on long term capital gains after factoring the benefit of the Cost Inflation Index. However, the capital gains aeciuing to investments made through NR£ accounts are not taxable.

iv) Value of investment in units under the scheme is completely exempt from Wealth fax.

v) The Gift Tax Aci, 1958 has abolished the levy of Gift Tax in respect of gifts made on or after 1st October 1998. Thus, gift of units of the scheme are fully exempt from levy of Gift Tax

2. Eligibility for Capital (Jains Tax Exemption under Section 54EA Investment of entire or part of net consideration arising out of transfer of lony term capital assets in Master Index Fund will be eligible for capital gains tax exemption under Section 54EA of the Income Tax Act, 1961 subject to availability oi'repiu'chase/tramfer/pledge of units only after three years from the date of acceptance of tfie application.
1414 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4
3. Eligibility for Capital Gains Tax Exemption under Section 54EB

Investment of entire or part of capital gains arising out of transfer of long tetin capital assets in the Master Index Fund will be eligible for capital gains tax exemption under section 54EB of the Income Tax Act, 1961 subject to repurchase/transfer/pledge of units only after seven years from the date of acceptance of the application.

4. For Eligible Trusts Units are approved securities under section 11 (2) (b) of the Income Tax Act 1961. Eligible Trusts investing in units will therefore, qualify for tax exemption in respect of income and corpus under sections 11 and 13 of the Income Tax Act, 1961.

XVI. Constitution & Management of Unit Trust of India

5. Act,

Consri In lion of UTI Unit Trust of India was set up as a statutory body under Unit Trust of India Act, 1963, with a view to encouraging saving and investment and participation in the income, profits and gains accruing to the Trust from the acquisition, holding, management and disposal of securities. It startedPART I I I ~ S E C. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHA1TRA 2, 1924) 1415 functioning with effect from 1st July, 1964.

Management of UTI The Management of the affairs and business of trn Trust are vested in the Board of Trustees with a full time Chairman appointed by the Government of India. Besides the Board, there is a statutory Executive Committee comprising the Chairman and two other Trustees nominated by the Industrial Development Bank of Tndia. This Committee is competent to deal with any matter within the competence of the Board. Board of Trustees *

1. Shri P S Subramauyam Chairman, Unit Trust of India 2. Sliri G P Muniappan Executive Director, RBI 3. Shri G P Gupta Chairman & Managing Director, IDBI 4. Shri N.S. Sekhsa.ia Managing Director,

Gujarat Ambuja Cements Ltd.

5. Shri RajendraPChitale Chartered Accountant 6. Dr. Vishvanath V Desai Economist 7. Shri G KrishniiiTKirthy Chairman, L.I.C. 8. Sliri G G Vaidya Chairman. S.B.I. 9. Shri K C Chowdhary Chairman & Managing Director,

Central Bank Of India

* The other current directorships of the Trustees are as follows:

1. Shri P S Subramanyam (i) Chairman & Director - The India Fund, (ii) Chairman & Director -India Growth Fund, (iii) Chairman & Director - India Access Ltd. (iv) Chairman & Director - The India Public Sector Fund Ltd. (v) Chairman of Governing Council - UTI- Institute of Capital Markets, (vi) Chairman & Director - UTI Investment Advisory Services Ltd. (vii) Chairman & Director - UTI Investor Services Ltd (viii) Chairman - UTT- Securities Exchange Ltd., (ix) Director- UTI Bank Ltd. (x) Chairman & Director - Over-The-Counter Exchange of India (xi) Member - Life Insurance Corporation of India, (xii) Director - Discount & Finance House of India Ltd. (xiii) Director • Securities Trading Corpn. of India Ltd. 2. Shri G P Gupta- (i) Chairman- Small Industries Development Bank of India, (ii) Director- The India Fund (iii) Director- India Growth Fund, (iv) Director - Discount and Finance House of India Ltd. (v) Director- Export- Import Bank of India, (vi) Director- Securities Trading Corpn. of India Ltd., (vii) Director- Infrastructure Development Finance Co. of India Ltd., (viii) Director- Indian Airlines Ltd. (ix) Director- IDBI Bank Ltd. (x) Director- National Stock Exchange of India Ltd. (x) Member- Life Insurance Corpn. of India, (xi) Member- General Insurance Corpn. of India (xii) Director- South Asia Regional Fund, (xiii) Chairman - South Asia Development Fund, (xiv)M16 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART HI—SEC. 4 Council Member- Indian Institute of Bankers, (xv) Member- Bankers 1 Training College (RBI), (xvi) Member- Association of Development | Financing Institutions in Asia and the Pacific (xvii) Member- Institute of Banking Personnel Selection (xviii) Member- The Institute of Company Secretaries of India 3. Shri N S Sekhsaria - (i) Director - Gruh Finance Ltd (ii) Director- Radha Madhav Investments Ltd. (iii) Director - Home Trust Housing Finance Co. .Ltd. {iv) Director- Ambuja Cement Foundation (v) Director Arnbuja Educational Institute 4. Shri Rajendra P Chitale - (i) Director - Small Industries Development Bank of India, (ii) Director- National Securities Clearing Corporation Ltd (iii) Director - J M Capital Management Ltd. (iv) Director - Zurich Asset Management Company (India) Ltd. (v) Director- India Index Services and Products Ltd.- (vi) Director- Association of Leasing and Financial Services Companies, (vii) Member - Executive Committee (Governing Board) of National Stock Exchange, (viii) Member - India Advisory Board of Bank of America NT & SA (ix) Member - Investment Committee, Life Insurance Corporation of India. 5. Shri V V Desai - Advisor - ICICI Limited. 6. Shri G Krishnamurthy - (i) Chairman - LIC (International) EC, Bahrain (ii) Chairman - LIC Housing Finance Ltd. (iii) Director - General Insurance Corporation of India (iv) Director- Poysha Industrial Co. (v) Chairman, Governing Board- National Insurance Academy (vi) Director- National Housing Bank (vii) Director- UTI Bank Ltd. (viii) Director - Discount & Finance House of India (ix) Director- Kenindia Assurance Co. Ltd.,Kenya (x) Director- ICICI Ltd. (xi) Chairman- Governing.Body of Insurance Council 7.Shri G G Vaidya- (i) Chairman- SBI Capital Markets Ltd. (ii) Chairman- SBI Funds Management Ltd., (iii) Chairman - SBI Gilts Ltd., (iv) Chairman - SBI Securities Ltd., (v) Chairman - SBI Factors & Commercial Services Ltd., (vi) Chairman - SBI European Bank Ltd., (vii) Chairman - State Bank of lndore, (viii) Chairman - State Bank of Saurashtra, (ix) Chairman - State Bank of Patiala, (x) Chairman - State Bank of Bikaner & Jaipur , (xi) Chairman - State Bank of Hyderabad, (xii) Chairman - State Bank of Mysore, (xiii) Chairman - State Bank of Travancore, (xiv) Chairman - State Bank of India (California), (xv) Chairman - State Bank of India (Canada), (xvi) Vice President of the Governing Council - Indian Institute of Bankers, (xvii) Director- National Bank for Agriculture and Rural Development , (xviii) Director - Export- Import Bank of India, (xix) Director- General Insurance Corporation, (xx) Member of the Governing Board & Chairman of Finance Committee- National Institute of Bank Management, (xxi) Member of the Governing Board, Chairman of the Finance Committee & Office Premises Committee & Committee of Administrators of IBPS Employees Pro. Fund, - Institute of Banking Personnel Selection (xxii) Member- Institute for Developing & Research in Banking Technology, (xxiii) Director- Infrastructure Development Finance Corporation , (xxiv) Director-PAKT III—Snt-. 4] THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) 1417 Infrastructure Leasing & Financial Services Ltd. , (xxv) Director- Export Credit Guarantee Corporation, 8. Shri K C Chowdhary - (i) Chairman - Small Group on Bank Audit, Indian Banks' Association (ii) Chairman- Banking Operations, Indian Banks' Association, (iii) Chairman - Small Group on Credit Related Matters, Indian Banks' Association (iv) Chairman - IBA Working Group for Interaction with Trade Bodies/Associations, (v) President - Indian Banks' Association, Local Chapter, fvi) Member - Managing Committee, Indian Banks' Association, (vii) Chairman - Centbank Home Finance Ltd., (viii) Chairman - Centbank Financial & Custodial Services Ltd., (ix) Director - Agricultural Finance Corpn. of India, (x) Director - Mastercard Asia/Pacific Board, (xi) Director - The New India Assurance Co. Ltd.,(xii) Member - Task Force, Indian Banks¹ Association.

Management of the Fund :- Name of the fund Manager alongwith his qualifications and experiences updated..

1. Custodians

6.

Following is inserted as required by SEBI.

The SEBI registration number of SHCIL is IN/CUS/011

Tariff structure of SHCTL is as under:

Physical

Electronic

-

Dernatcrm.isation

Rs.5 per certificate

Rs. 100 per DIP

Purchase

5.5. basis points on

The value of the

Transaction

Rs, lOOperDIS

Sale

5.5 basis points on

The value of the

Transaction

Custody

1.5 basis points on

The asset value in

The custody

8 .basis points on the asset value in the Custody

T.5 basis points on

the value of the

Transaction
1418 THE GAZETTE OF INDIA, MARCH 23, 2002 (CHAITRA 2, 1924) [PART III—SEC. 4

Off market 5.5 basis points on Sales the value of the Transaction Rematerialisation Rs. 15 per certificate Or 15 basis points of Conversion value Whichever is higher 2. Auditors M/s. Chaturvedi & Company, Chartered Accountants, 60rBentik Street, Calcutta 700 069 and M/s Batliboi & Purohit, Chartered Accountants, National Insurance Building, 204, D N Road, Fort, Mumbai 400 001. The auditors of the scheme are appointed by the IDBI and they are subject to change from year to year.

7. XVIII Investors' Grievance Redressal Table giving Investors' Grievance Redressal data updated

8. XX Condensed Financial Information Table giving Condensed Financial Information updated

PRINTED BY THE MANAGER, GOVERNMENT OF INDIA PRESS, PAR1DABAD, AND

PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI,

Clause Existing provisions Amended provisions No.
Highlights Highlights 1 liiiUIi-ilti-	Minimum investment is 500 units 2nd item - Minimum investment is with multiples of 100 units. ts.5OOO/- with no -maximum limit. ror subsequent investments under he same folio the minimum nvestmentisRs.1000/-. Open to both resident and non 3rd item - Open to resident resident adult individuals/minors/ ndividuals and institutions as well HUFs/ Trusts/ Society/ Bodies as to NRls. OCBs and FIIs. Corporate (including banks and companies registered under the Companies Act. 1956)/ Partnership firm/ Overseas Corporate Bodies (OCBs)/ FIIs registered with SEBI and having RBPs approval under FERA 1973 The face value of a unit is Rs.10/-. 4th item -The face value of a unit Sale will be at NAV (historic) to is Rs.IO/-. Sale will be at NAV as he determined on a daily basis. at the close of the day on which the application is accepted.


HiuhligliU	Item not included	8th item - Facility to reinvest the income, if any, will be available at [NAV.
Highlights	Item not included	9th item - Switchover facility from the scheme to such other schemes which may be announced by the Trust from time to time or vice versa at NAV or NAV based price.
Highlit; lit*	Tax benefits U/S SOL if income is declared and U/S 48 & 112 of Income Tax Act. 1961 on long term capital gains from capital appreciation under the scheme. Capital gains tax exemption U/S 54EA/54EB of the Income Tax Act. 1961. depending upon the source of fund, subject to lock-in for three/seven years respectively from the date of acceptance.	10th item - Currently Income Distribution, if any by the scheme is totally tax free in the hands of investors under section 10(33) of Income Tax Act 1961. Further, being an open end equity oriented fund it will not be subject to Income Distribution tax for a period upto 31st March 2002 under section 115R of the Income Tax Act 1961. 11th item: Capital gains prising from capital appreciation^ if any. on repurchase of units is subject to

	ax benefits under sections 48 &. 12 of Income Tax Act. 1961. 2th item: Investment eligible for availing of capital gains tax exemption under sections 54EA and 54EB of the Income Tax Act. ,961. depending upon the source of fund subject to repurchase of units only after lock-in-period of hree/seven years respectively from he date of acceptance of the application. 13th item: Value of investment in units under the scheme is completely exempt from Wealth Tax. 14th item: The Gift Tax Act. 1958 has abolished the levy of Gift Tax in respect of gifts made on or after 1st October 1998. Thus gifts of units of trie scheme are fully exempt from levy of Gift Tax.
	Definition* "Acceptance date" with reference "Acceptance date" with reference lo an application made by an to an application made by an II 00 applicant to the Trust for sale or applicant to the Trust for sale or repurchase of units by the Trust repurchase of units by the Trust means the day on which the Trust means the day on which the branch after being satisfied that such office of the Trust, after being application is in order, accepts the satisfied that such application is same. complete in all respects, accepts the same. The acceptance date in respect of sale and repurchase applications received, at the franchise office / collection centre will be the date of receipt of the application at the office of the Registrar or the 5th working day (T+5) from the date of its receipt thereof at the franchise office or collection centre(T) whichever is earlier. The Trust may reduce the number of working days from 5 to a lower number, as may be decided.

	Offer ninimum of 500 units with IV (ft) nultiples of 100 units thereafter. In he case of investment of ls.50.000/- and above, the investor s advised to furnish Income Tax VA.N./G.I.R. number and I.T. Circle address ii" he/she is having SO.		minimum of Rs.5000/-. There is no maximum limit and units will be allotted upto three decimal places. :or subsequent investment under he same folio the minimum nvestment is Rs.1000/-. In the case of investment of Rs.50.000/- and above by resident or NRI hrough NRO account, the investor s advised to furnish Income Tax P.A.N./G.I.R. number and I.T. Circle address if he/she is having so.

	Units & Units are listed on 1° major Stock Offer Exchanges and the units may be Listing listed at other stock exchanges at IV (7) such places as may be decided by the Trust in future.		The units of the scheme issued before 26lh April.2000 and remaining outstanding arc! listed on the major stock exchanges. Units being issued/sold on or after 26"' April.2000 will not be listed in any Stock Exchange.
	I in its & Unit Certificate Offer The Trust shall send unit certificate IV (S) not later than ft weeks from the dale of acceptance of the application. A unit certificate is transferable and is a valid evidence of admission of the investor into the scheme. The Unit Certificate shall be in such form as may be decided by the Executive Director (il'the Trust. The Certificate will be issued in marketable lot of 100 Mastershare Plus units upto maximum number of 20 Mastershare Plus Certificates (i.e. 2000 units). For any investment beyond 2000 units one consolidated Certificate (21st Certificate) will be issued (i.e more than 2000 Mastershare Plus units). This consolidatec Certificate will be split, once free of cost, on request from investor and thereafter the split may be allowed on payment of charges as may be decided by the Trust. The non resident Indian may choose any. one*of the following		Statement of Account 1) For units sold on 26"'April.2000 and thereafter the Trust shall issue a statement of account, with an assigned folio number not later than 6 weeks from the date of acceptance of application. 2) Even1 member will receive an updated statement of account under the folio ciich time any additional purchase or partial repurchase or switchover or transfer of the units pursuant to clause 9 (a) & 9 (c) below or ^materialisation of units held in depositor}' mode is made by the member under the folio. 3) The NRI investor may choose any one of the following modes of despatch of statement of account (i) At the applicant's Indian/foreign address OR

right, title, claim or other interest of any other person to or in respect of the said units as provided in such regulations and subject to any charge or encumbrance over the said units. Transmission made by the Trust as aforesaid shall be u full discharge to the Trust from all liability in respect of the said units. I					on 1
Repurchase will be effected "lUpiirth Repurchase will be effected on receipt of the duly executed use of receipt of the Unit Certiricale duly repurchase request form/unit mills' discharged. Partial repurchase shall certificate duly discharged. Partial .Vil pur.i be permitted subject tti the ofVFI(l) repurchase shall be permitted unilholder maintaining a minimum subject to the member maintaining balance of 500 units per folio. a minimum balance of Rs.5000/- per folio to be computed at the repurchase price applicable as on the date of acceptance of repurchase application. "Ucpurch In case of non-resident mvWsWS. In case of non-resident investors, IINC of repurchase proceeds **$" be repurchase proceeds will be remitted depending upon the remitted depending upon the units' source of investment as follows: source of investment as given VII (3) below:- a) Where units have been (i) When units have been purchased out of remittance in purchased from remittance in foreign exchange from abroad or foreign exchange from abroad/by from the proceeds of the member's cheque/draft issued from proceeds FCNR deposits or from funds held of unitholder's FCNR deposit or in member's Non-Resident from funds held in unitholder's External (NRE) Account with Non-Resident (External) Accoun
					a

crediting the unitholder's Non- b) Where units have been Resident (External) Account purchased while the applicant was provided lie continues to be a resident in India or out of funds resident abroad. It can also be sent leld in members NRO Account, lor crediting to his Non-Resident he repurchase proceeds will be (Ordinary) Account if desired by sent either to the investor's baiikers the unitholdcr. n India for credit to his NRO account or to a relative of the investor in India. (ii) When units hnvc' been purchased from funds held in unitholder's Non-Resident (Ordinary) Account, the proceeds will be Hem to the unitholder's relative in India for crediting to the uniiholdcr's Non-Resident (Ordinary) Account. 'Ui'purch 1 No provisions exists IIMC or unltK* VII (4) lU'purclui Iluy-Uuck Of Units: MO Of IJIlltN Notwithstanding anything to the contrary In the provisions of the VII (") •chomc; (n) The Trust muy buy buck units under tho scheme from the markot m the ruling price whenever such units are quoted at 10% or more below lu NAV. (b) The Trust may buy back upto 25% of the unit capital issued under the Scheme in any one llnanclal year as an overall limit The units which are bought back will be redeemed. Explanation:
			In case of1 Fits, repurchase proceeds will be credited to the Special Non-Resident Rupee Account or as per Instructions Issued by SE3I/RBI from time
			Buy-Back Of Units: Notwithstanding anything to the contrary in the provisions of the Scheme so long as any part of the unit capital remains listed on any stock oxchunge: (a) The Trust'may buy back such units from the market at the ruling price whenever such units are quoted at 10% or more below Its NAV. (b) The Trust may buy back up to 25% of such unit capital Issued under the Scheme In any one financial year as an overall limit. The units which are bought back will be extinguished.

			instructions issued by SEB1/RBI from time to time.
Investment The following shall be deleted Objectives rom 'Investment Objectives' r x f i ) ind the latest provisions on the snmc shall be included suitably inder 'Investment Policies1 Trading in derivatives as and when t is permitted and as per the guidelines proposed to be issued iy SEBI in this regard. Subject to authorisation from SEBI ind the Government oflndia. UTI. n appropriate circumstances, may use techniques and instruments, such as futures and options and >ther derivatives subject to applicable regulations and counter- party risk assessment, as and when (hoy become permissible in the Indian market, for the purposes of achieving the investment policy, heading or minimising the risk. In addition, subject to applicable regulation* and counter-party risk iiHHCsamcm. the scheme may borrow or lend stock. Stwk li/mllng;' The Scheme may, IVom time to time, give on loan Hccuritlei in which it has invested, lor a temporary period ai per securities lending scheme of SEBI. (hwmiiut Investment:- The scheme may Invest in Hecuritles issued by overseas/foreign companies and limed abroad or securities issued by Indian corporatei to foreign/overseas Investors and listed on foreign stock exchange directly by subscribing to such issues or purchasing on foreign stock exchanges as per SEBI guidelines issued from time to time.			Investment Policies Subject to requisite authorisations, the Trust. in .appropriate circumstances, may use techniques and instruments, such as futures and options and other derivatives subject to applicable regulations and counter-party risk assessment, as prescribed by SEBI from time to time, for the purposes of achieving the investment policy of the scheme or hedging or minimising the risk. (iv)(a)The scheme will participate in the stock lending programme. In accordance with the terms of securities lending scheme announced by SEBI. The activity shall be carried out through approved intermediary. (b)The maximum exposure at any point of time of the scheme towards stock lending would bo 10% of the market value of the equity portfolio of the scheme or such limit as may be specified by SEBI. (c) If mutual funds and the Trust are permitted to borrow stocks the scheme may in appropriate circumstances borrow stocks In accordance with SEBI guidelines in that regard. (d) The scheme may invest in securities Issued by overseas/ foreign companies and listed abroad or securities issued by Indian corporotes to foreign/ overseas investors and listed on foreign stock exchange directly by subscribing to s^ich Issues or 1 purchasing them on foreign stock

	XIV Im cs tors' No provision exists 7th Item. Any change in the Rights fundamental attributes" of the inid scheme will be carried out if the Services investors are allowed to exit at XV NAV besides being intimated by individual communication The existing items 7 & 8 shall be renumbered as 8 & 9.
	Constituti Data updated as per items 5 & 6 of Refer to items 5 & 6 of Annexure on & Annexure III. III M;m:i(;cni ent or Unit Trust of India XVI.
	Oilier Refer to items 7 & 8 of Annexure Data on Custodians and Auditors service III updated as per items 7 & 8 providers respectively of Annexure III. for tin- scheme XVII.
	Investors' Data updated as per item l) of Refer to item 0 of Annexure (11 Grievance Annexure III. Redress ill XVIII
	Penalties, 2. There are no pending, material 2. There are no pending material Pauline litigation proceedings incidental to litigation proceedings incidental to lilltMtlons. the business of the Unit Trust of the business of the Unit Trust of Miitcrinl India including the Board of India including the Board of Findings Trustees or any of the trustees or Trustees or any of the trustees or of key personnel. There are no key personnel. Inspection*/ pending criminal cases against the Investipit Unit Trust of India. Board of ions Trustees or any of the Trustees or

	List cover the amount payable for the units applied decimal places. MMltblUT "or. the .applicant shall be issued such lower <>f C'lilllSC lumber of units in multiples of 100 units Vl(2)(ii) subject to minimum of 500 units) as could ie issued under the scheme, the balance due to him shall be refunded at his cost in such manner as the Trust mav deem fit.
	•Sale of 11 the amount tendered by way of payment Deleted as units will he units* for the units applied for is not sufficient to allotted upto three Third last cover the amount payable for the units applied decimal places. SHlU'lKT lor. the applicant shall be issued such lower of clause number of units in multiples of 100 units (subject to minimum of 500 units) as could VI (4) be issued under the scheme, the balance due to him shall be refunded at his cost in such manner as the Trust may deem fit. 'Kepurch Deleted as units will not use of be listed units1 clause V \| \| (5)

	Investment However, notwithstanding anything containec The item has been objectives. in respect of clauses IX(3). XII (1) and XII (2) deleted. The modified Policies & on investment policies, computation of NAV item included under Stock valuation of assets, repurchase price and their 'Valuation of assets Lending frequency of disclosure would be in pertaining to this IX (5) accordance with the provisions of SEBI (MF scheme in Annexure I. Regulations/ Guidelines/ Directives issued by SEBI from time to time.
	Associate The scheme may invest in anothe Deleted as one UT1 Transact! Scheme/Plan of the Trust or any other mutua scheme cannot invest in ons am fund without charging any fees, provided tha. another UT1 scheme. Bnrrntvin aggregate imerscheme investment made by al g.s'Xl(1) schemes of the Trust or in schemes under th management of any other asset managemen

0 ) (q> Applications No provisions exist for Units (S)(D Application for Units 5(4)	The minimum number of units applied for shall be 200 units and applications for further units shall be in multiples of 100 units.	otherwise requires, in appropriate places, the term "Member/s" shall include "Unit holder/s"and the term "Register of Unit holders" shall include "Register of Members" also. Following inserted : iii) a parent, step-parent or other lawful guardian on behalf of a resident or a NR1 minor. ix)a Financial Institution. x) any body established or controlled by or under a State or Central Act. xi) an Army / Navy / Air Force / Paramilitary Fund xii) a partnership firm. An application by a partnership firm shall be made by not more than three members of the firm and the first named person shall be recognised by the Trust for all practical purposes as the member . xiii) a Public Sector Undertaking (PSU) Application shall be made for a minimum of Rs.5.000/- There is no maximum limit and units will be allotted up to three decimal places. For subsequent investment under the same folio the minimum investment is Rs. 1,000/-. In the case of investment of Rs.50,000/- and above, by resident or NRI through NRO account the investor is. advised to furnish Income Tax P.A.N./G.I.R. number and i.T. Circle address if he/she is having so.


Application for Units	(b) If the payment is made by cheque or draft, the	If the payment is made by a cheque/draft, the acceptance of an application will be subject to such cheque/draft being realised.

law for the time being in force in India: (b) repayable on demand or within a period of eighteen months from the (.hue on which the money is so borrowed, against the security of the bonds which the Trust may issue with the approval of the Central (iovernment: (c) on such terms and conditions and against the security of such other property of the Trust as may be specified in this behalf by the Reserve Bank for the purposes of any scheme other than the first unit scheme: IVovided that any amount borrowed under this clause and outstanding at any one lime shall not exceed- (a) five crores of rupees in respect of each such scheme; and (b) ten crores of rupees in respect of all such schemes in the aggregate, (iii) The bonds issued by the Trust under sub-section (ii) shall be guaranteed by the Central Government as to the repayment of principal and Ihe payment of interest at such rate as may be fixed by the Central (iovernment at the time the bonds are issued.
V-.ilimtion of assets pertaining to this schema (a) Quoted investments including those underlock-in period, if any, but except government securities are valued at the closing market rates on ihe valuation date and in its absence, at the latest available quote within" a period of sixty days prior to the valuation date. If no quotes are available for a period of sixty days prior to the valuation date, the same is Heated as unquoted investment. (b) Quoted government securities are valued at closing NSE market rates on the valuation date and in its absence the latest available quote within a period of seven days prior to the valuation date. If no quotes are available for a period of seven days prior to the valuation date the same are treated as unquoted government securities. (c) In case of quoted debentures and bonds, the market rate, being cum- interest. the same is adjusted for the interest element, if any. (d) Right entitlements for shares are valued at market rates, discounted for dividend element, wherever applicable. (e) Unquoted preference shares/cumulative convertible preference shares are taken at cost. (f) Unquoted equity shares are valued on fair valuation basis as determined by the Board of Trustees from time to time. (g) Unquoted debentures bonds and transferable notes are valued aj yield to maturity , linked to the yield on GOI Securities (yield curve) along with a mark up approved by the Board of Trustees.

		income distribution is charged to revenue appropriation account in the year of capitalisation. (h) Provision for income distribution is made on unit capital at rates approved by the Board of Trustees from time to lime. 6. Publication of Financiiil Results: The unaudited financial results as on 31st December will be published within 2 months and audited annual results as on 30lh June will be published within six months of finalisation of accounts in one English daily and one Marathi daily.
11.		Tax Treatment of Investments 1. Residents/NRls/OCBs i) Taxation of income, if any, and capital appreciation, if realised, under the scheme will be subject to prevalent tax laws. ii) Currently income, if any, received by all categories of investors under all schemes/plans of the Trust is totally free from tax under section 10(33) ofthe Income Tax Act. 1 % 1. The scheme is required to pay an income distribution tax at the rate of 10% and surcharge of 10% thereon under Section 115R of Income Tax Act. 1961 on the amount of income, if any, distributed by it. However, being open ended equity oriented fund, the scheme will not be subject to the said \m undefthe said section upto 31" March, 2Q02, provided mere than 30H ofthe total -proceeds of the scheme are invested In equity shares of domestic companies: iii) Currently, any long term capital gains arising out of Investment In the scheme by residents and NRla out of rupee originated er NRG funds will he subject to treatment indicated under sections 48 and 112 of the

OIV market 5.5 basis points o n Sales the value of the Transaction Rs. 15 per certificate Kcmaterialisation Or 15 basis points of Conversion value Whichever is higher
Auditors 15. M/s. Chaturvedi & Company, Chartered Accountants. 60. Bentik Street. Calcutta 700 069 and M/s Batliboi &. Purohit, Chartered Accountants, National Insurance Building, 204. D N Road, Fort. Mumbai 400 001. The auditors of the scheme are appointed by the IDBI and they are subject to change from year to year.
16. Table showing Investors' Grievance Redressal data inserted

11 (ha) Definitions II (hb)	"RBI" means the Reserve Bank of India constituted under the No provisions exist Reserve Bank of India Act, 1934.

A resident or non-resident a resident individual or a NRI either singly or jointly with Application another or up to two other individuals on a joint / anyone or adult individual singly or for Units survivor basis. with another individual on IV (1)0) joint / either or survivor basis.
No provisions existed for (xi) an Army / Navy / AirForcc / Paramilitary fund, Application (xii) n Public Sector Undertaking (PS1J). all categories of intended for Units (xiii) Financial Institution investors IV(1) (xiv) a Foreign Institutional Investor (FII) registered with SEBI
Application shall be made for a minimum of Rs.5000/-. There is Minimum Application shall be made no maximum limit and units will be allotted up to three decimal amount of for minimum of Rs. 5000 places. For subsequent investment under the same folio the investment and thereafter in multiple of V Rs. 1000/-. Maximum limit minimum investment is Rs. 1000/-. In case of investment of for investment per investor Rs.50,000/- and above, the resident or a NRI investing out of is Rs. 10,000/-. When the non-resident ordinary account is advised to furnish Income Tax units are open for the sale P.A.N./G.I.R. number and I.T. Circle address if he/she is havinp after the initial offer period so. this could be relaxed. Units will be allotted in fractions upto three places after the decimal.
(a) The payment for units by an applicant shall be made by him (1) (i) The payment for the Mode ol along with the application in cash, cheque or draft. When units applied for by an Payment applications are submitted at branch offices of the Trust, applicant shall be made by VIII (1) (i) cheques or drafts should be drawn on branches of banks within him along with the &(H) the city/town where the branch office of the Trust at which the application in cash, application is tendered is situated. cheque or draft. Where applications are submitted (b) If the payment is made by a cheque/draft, the acceptance of an at the branch offices of the application will be subject to such cheque/draft being realised. Trust, cheques or drafts (c) If, the application amount is less than the minimum should be drawn on investment under the scheme, the entire amount shall be branches of banks within refunded to the applicant at his cost in such manner as the Trust the city where the branch

the Trust will be liable to be rejected, to accept or reject application VIII (2) (a)(lv)
Mode of The Trust shall have the The Trust shall have the right in such an event to repurchase the Payment units at par or^NAV whichever is lower after deduction of 25% right in such an event to as penalty or at such price as may be decided by the Trust and repurchase the units at par VIII (3) return the balance. after deduction of 25% as 2nd last penalty or at such price as paragraph may be decided by the Trust and return the balance.
Sale of The initial preferential offer a) The fund shall be open for sale and repurchase from the first Units of units under the scheme Monday of the month to the immediately succeeding Monday shall remain open from or for any other period as may be decided by the Trust form IX April 15, 1998 to May 29 time to time Applications will be accepted at the branch offices 1998 (both days inclusive) of the Trust only on days which are working for the concerned The fund shall be open for office. The sale price of units will be at a load of 3% to the sale from the first Monday NAV as at the close of the day on which the application is of the month to the accepted. The contract for sale of units by the Trust shall be immediately succeeding deemed to have been concluded on the acceptance date. On Monday or for any other such conclusion of the contract for sale, the Trust shall as soon period as may be decidec thereafter as possible, issue to the applicant statement of by the Trust form time to account. A statement of account issued by the Trust to the time Applications will be eligible institution , firm or body corporate shall be made out in accepted at UTI branch the name of eligible institution/firm/body corporate. The Trust offices only on days which shall not incur any liability for loss, damage, misdelivery or are working days for the non-delivery of the statement of account so sent.

		a stock-broking firm and wholly owned by the Trust may be utilised for securities transactions of the scheme as per the policies and subject to the limits laid down by the Board of Trustees of the Trust, UTI SEL was set up in 1994. with registered office at Mumbai. (ix) The scheme shall invest not more than 10% of its NAV in the equity shares or equity related instruments of any company.
3. 4. 5.		Table showing Corporate Investment in the Trust's schemes and the Trust's investments in these companies inserted ax per the 'standardoffer document'. Inter-Scheme Transfers Transfer of investments from /to this scheme to/from another schemes/plans of the Trust shall be done only if- a) such transfers art on spot basis and are at the prevailing market price for quoted instruments. Explanation : "spot basis"' shall have the same meaning as specified by the stock exchanges for spot transactions, b) the securities so transferred are in conformity with the investment objective of the schemes/ plans to which such transfers are made; and c) transfer of unlisted or unquoted investments from/to the scheme to/from another schemes/plans of the Trust are as per the policies laid down by the Board of Trustees of •the Tnist.

		Associate Transactions & Borrowings 1. The scheme shall notborrow except to meet temporary liquidity needs of the scheme for the purpose of repurchase/redemption of units or distribution pf income, if any, to the member s. Provided that the scheme shall not borrow more than 20% of the net asset of the scheme and the duration of such a borrowing shall not exceed a period of six months, 2. As per section 20 of the Unit Trust of India Act 1963 the Trust has the following borrowing powers: (i) The Trust may borrow, whether in India or outside India from any authority or person, not being Government or the Reserve Bank, against such security and on such terms and conditions as may be agreed upon.

This Gazette may contains Multiple Subjects

PUBLISHED BY AUTHORITY

[PART III—SECTION 4]

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15—509 GI/2001

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DEPARTMENT OF GOVERNMENT AND EjANK ACCOUNTS

C£NIEAL QEgrp>VJSQN

iUMiA!

Ahmedabad Circle

10% Relief Bonds, 1995

Chennai Circle

NDGB 19S0 "A" Series

New Delhi circle

10% Relief Bonds, ]995

- do - _

Bank of India

Head Office

Mumbai

S C H E D U LE

Disciplinary Authority

Sr. No.

Appellate Authority

Stale of the Officer

Employee

NOTE FORMING PART OF SCHEDULE

Deputy diieral Manager

THE INSTITUTE OF CHARTJJRKD ACCOUNTANTS OF INDIA

27 CUFFK PARADE, COLABA,

MUMBAI400005

CORRIGENDUM NOTIFICATION

SR.NO.

M.NO.

NAME AND ADDRESS

SR.NO.OFTHE

NOTIFICATION

5742

MR. MODI PRAKASH RAJ

KASTURBACROSS ROAD NO.1,

UPRABHAKUNJ

BORM.I (E)

MUUBAI400068

5862

KW. TARAPORE HOSHANG

DHANBHOORA&CO.

BOrvBAYMirrUALBLDQ,

SIRPMMEKTARD,

FORT

MUMBAI 400001

7613

MR. SHAH KUMUDCHANDRA

10MANQALPARK

NEWVIKASGRUH,

PALDI,

AHMEDABAD 380007

1009ft

MR. VAISHAMPAYAN SHRINIVAS

0 RUTURAfJG APTS,

MADHUSANCHAY SOC

KARVE NAfiAR

PUNE411C52

NEW DELH1110 002

(Chartered Accountants)

Explanation:

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22—509 G1/2001 w?>u981 982 983 984 985 986 987 23—509 Gl/200r 9fc8989 190 991 992 993 994 995 24—509 GI/2001906 997 998 999 1000 1001 1002 1003 25—509 Oil/2001 K)041005 1006 1007