REGISTERED No. D-(D)-72
The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 90] NEW DELHI, MONDAY, MAY 30, 1977 JYAISTHA 9, 1899
Separate paging is given to this Part in order that it may be filed
as a separate compilation
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 30th May 1977
No. F4(2)-W & M/77,—Subscription for the issues of 5½ per cent Loan, 1985 (Second Issue), 6 per cent Loan, 1094 (Second Issue) and 6½ per cent Loan, 2004 will be received from the 20th June, 1977. in the form of cash The issues will be closed without notice as soon as it appears that the total subscriptions amount approximately to Rs 400 crores (Nominal) and in any ease not later than the close of business on the 21st of June, 1977 Government reserve the right to retain subscriptions received upto 10 per cent in excess of the sum of Rs. 400 crores
2. If the total subscriptions to the aforesaid loans exceed the sum of Rs, 440.00 crores (Nominal), partial allotment will be made in respect of the Loans on a pro- portionate basis, If partial allotment is made, the excess. subscription's will be refunded as soon as possible after allotment No interest will be paid on the amounts so refunded
3 53/2 per cent Loan 1985 (Second Issue) issued at Rs 99,50 per cent, and re- deemable at par on the 16th July, 1985
(i) Date of repayment—The Loan will be repaid at par on the 16th of July, 1085
(379)
380 THE GAZETTE OF INDIA EXTRAORDINARY PART I—Sac. 1(n) Issue Price—The frsue price will be Rs. 09 50 for every Rs. 100 00 (Nominal) oi tne Loan applied for.
Oa.n w lU b e av i n t e r e st at t he rate of 54 per cent per annum
T
f • mm9n(hnlfrest"7££e L from 20th June, 1977. Interest for the period 20th June to 15th July, 1977 Inclusive will be paid on 16th July, 1977 and thereafter interest will be paid half yearlj on 16th January and ]6tb July The interest paid will subject to the provisions oi paragraphs 7 and 8 below, be liable to tax under the Income-Tax Act, 1861
4 6 per cent Loan 1994 (Second Issue) issued at Rs 99 00 per cent and redeem- able at par on the 1st July, 1994
(i) Date of repayment—The Loan will be repaid at par on the 1st of July, 1994. (n) Issue Price—The issue price will be Rs 99,00 for every Rs 100.00 (Nominal) of the Loan applied for.
(in) Interest—The Loan will bear interest at the rate of 6 per cent, per annum from 20th June, 1977 Interest for the period 2Dth to 30th June, 1977 inclusive will be paid on 1st July, 1977 and thereafter interest will be paid half-yearly on the 1st January, and 1st July. The interest paid will, subject to the provisions of paragraphs 7 and 8 below, be liable to tax under the Income-tax Act, 1961
5 fii per cent Loan, 2004 issued at Rs 100.00 per cent and redeemable at par on the 20th June, 2004
(i) Date of repayment—The Loan will be repaid at par on the 20tb of June, 2004
(li) Issue Price—The issue price will be Rs 100.00 for every Rs. 100.00 (Noml- nal) of the Loan applied for
(HI) Interest—The Loan will bear Interest at the rate of 6J per cent, per annum from 20th June, 1977. Interest will be paid half-yearly on the 20th June and 20th December The interest paid will, subject to the provisions of paragraphs 7 and 8 below, he liable to tax under the Income-tax Act, 1961
SuppleiiiPnlary Provision*
6. Place of pjyment of interest--Interest on the Joans will be paid at the Public Debt Offices of the Reserve Bank of India at Ahmedabad, Bangalore, Bombay, Calcutta, Hyderabad, Jaipur, Kanpur, Madras, Nagpur, New Delhi and Patna, at any Treasury or Sub-treasury elsewhere in India except the States of Jammu and Kashmir and Sikkim, and at the Central Government's Fay and Accounts Offices at Jammu and Snnagar.
7 Refunds of lax deduried at the time of payment of interest (at the rates prescribed by the annual Finance Acts) will be obtainable by holders of the loan who are not liable to tar. or who ere liable to tax at rates lower than the rate at which tax was deducted
A holder who is not liable to tax or who is liable to tax at a rate lower than the prescribed rate, can obtain on application, a certificate from the Income-tax officer of the district, authorising pavmeni of interest to him without deduction of tax or with deduction of tax et such lower rate as may be applicable to the holder,
8 Interest on all the loans now issued together with interest on other previous Government securities and income trom other approved investments will be exempt from income-tax subject to a limit of Rs. 3.000 per annum and subject to the other provisions of Section SOL of the Inccme-tax Act, 1961.
9 The value of investments in the loans now issued together wifti the value of other previous "nvestments in Government securities and the other investments specified in Section "i of the Wealth Tax Act will also be exempt from the Wealth- Tax upto Rs, 1,50,000
10, The securities will be issued in ihe form of—
(I) Stock, the applicants for which will be given Stock Certificates, or (n) Promissory Notes
If no preference is stated by the applicants, the securities will be issued in the
form of Promissory Notes
11. Applications for the loans—Applications for the loans must be for Rs. 100
or a multiple of that sum.
381
12 Applications will be received at—
(a) Offices of the Reserve Bank of India at Ahmedabad, Bangalore, Bombay (Fort and Byculla), Calcutta, Hyderabad, Kanpur, Madras, Nagpur, New Delhi and Patna; and
(bj Branches of the State Bank o£ India at all places in India except at (a) above.
13 Applications may be In the form attached hereto or in any other form which states ciearlv the amount and description ol the securities required, the full name and addreia of the applicant and the cfnoe at "which he desires the Interest to be paid
14. Applications should be accompanied by the necessary payment in the form of cash or cheque Cheques tendered at the office of the Reserve Bank of India or the State Bank of India should be drawn In favour of the bank concerned.
15. Brokerage will be paid at the rate of 6 paise per Rs. 100 (nominal) to re- cognised banks and brokers on allotments made in respect of applications for the loans tendered by the and bearing their stamp
The claim for payment of brokerage should be preferred at the paying offices within six months from the date of floatation of the loans
FORM OP APPLICATION
[We
(Full Named) in Block Letters)
herewith tender •Cash Rs *Chequo for Rs and request that securities of 5 1/2 per cent Loan, ^985* (Second Issue)/6 per cent Loan i$94* (Second Issue)/6i/2 percent. Loan, 3004* of the nominal vmlue of Rs may bo issued to me/us in the form of * promissory Note(s) • interest to be payable at
Stock Certificate
N.B.—-The applicant should not write anything in this cage.
The entries will be filled in by the Public Debt Office.
„ — . Signature
Initials Date
Name In full
Applicati n No
(Blick letters)
N. B. Stamp
Cash received
Addresi
Cheque realised Credited to Special
Current Account
Examined
Cash Applications Register
Posted
Brokerage Register posted
. ..
Indent No
Script No
Card No
Vouchsr passed on Dated the of June 1977
•Delete what is not required. tFromlssory Notes will be Issued In denominations of Rs. 100, Ra. 200, Rs. 500, Rs. 1,000, Rs 5,000 Rs 10,000, Rs 25,000; Rs. Rs. 1,00,000 State here the particular denomination required.
382 T HE GAZETTE OF INDIA EXTRAORDINARY PAHT I—SEC. 1(1) Separate application should be made for each Loan and each form erf scrip (Stock Certificate or Promissory Note) of the new Loan required. (2) If the applicant's signature is by thumb mark, it should be, witnessed by two persons. The full names, occupations and addresses of the wit- nesses should be appended lo their signatures,
(3) If the application is made jn the name of a registered body, the under- noted documents, if not already registered at the Public Debt Office, should be enclosed with the Investment application1 —
(j) Certificate of Registration/Incorporation
(n) Memorandum and Articles of Association or certified copies of the Rules and Regulat)on=/Bye-laws of the body/company
(m) Certified copy of resolution m favour of the person authorised to deal in Government securities on behalf of the body/company.
(4) Applicants desiring the issue of scrips in the form of Stock Certificates should also complete a "Mandate Form (obtainable from Public Debt Office) for transmission of half-yearly interest to them.
By order of the President,
K. N. ROW, Jt Secy.
383
384 T HE GAZETTE OF INDIA EXTRAORDINARY PART I—SEC-385
i gg THE GAZETTE OF INDIA EXTRAORDINARY PART I—SEC.