REGISTERED No. D. (D.N)-72
The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 173] NEW DELHI, THURSDAY, SEPTEMBER 30, 1982/ASVINA 8, 1904
Separate Paging is given to t h is Part in order that it may be filed as A Separate compilation
2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]j
A THE GAZETTE OF INDIA : EXTRAORDINARY [PART 1—SEC. 1]MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 30th September, 1982
No. F. 4(5)-W&M/82.—Subscriptions for the issues of 6.75 per cent. Loan, 1989, 7.25 per cent. Loan, 1992 (Third Issue), 8.25 per c"nt. Loan, 2005 and 9.00 per cent Loan, 2013 (Third Issue) for an aggregate amount of Rs. 750 crores will be received in the form of cash on the 11th October, 1982 upto the close of banking hour*. In the event of 11th October, 1982 being declared a holidays by any State Government under the Negotiable Instruments Act, 1881, the subscription will be received at the concerned receiving offices in that State upto the close of banking hour" on the next waking day. Government reserve the right to retain subscriptions received upto 10 per cent, in excess of the sum of Rs. 750 crores.
2. If the total subscriptions to the aforesaid lunns exceed the sum of Rs. 825 crores, partial allotment will be made in respect of ths loans on a proportionate basis. If partial allotment is made, the excess subscriptions will bo refunded as soon as possible after partial allotment. No intercut will le. paid on the amounts so refunded.
3. 6-75 per cent Loan, 1989 issued at Rs. 100.00 per cent
and redeemable at par on the 11th October, 1989.
(i) DHte of Repayment.—The Loan will be repaid at pur
on the 11th October, 1989.
(ii) hsue Price.—The issue price will be Rs. 100.00 for every Rs. 100.00 (Nominal) of the Loan applied for. (iii) Interest.—The Loan will bear interest at the rate of 6.75 per cent per annum from 11th October, 1982. Interest will be paid half-yearly on the llth April and llth October. The interest paid wii], •ub/ect to the provision! of paragraphs 9 and 10 below, be liable to tax under the Income-tax Act, 1961.
4. 7.25 per cent Loan, 1992 (Third Issue) mued at Rs. 100.00 per cent and redeemable at par on the 24th Mey, 1992.
(i) Dale of Repayment,—The loan will be repaid at par
on the 24th May, 1992.
(ii) I"sue Price.—The issue price will be Rs, 100,00 for every Rs. 100.00 (Nominal) of the Loan applied for.
(iii) Interest.—The Loan will bear interest at the rate of 7,25 per cent per annum from l l th October, 1982. Interest for the period llth October to 23rd No- vember, 1982 (inclusive) will be paid on 24th November, 1982 and thereafter interest WJU be paid half-yearly on the 24th May and 24th November. The interest paid will, subject to the provisions of paragraphs 9 and 10 below, be liable to tax under the Income-tax Act, 1961.
5. 8.25 per cent Loan, 2005 issued at Rs. 100.00 per cent
and redeemable at par on the l hh October, 2005,
(i) Date of Repayment.—The Loan will be repaid at
par on the llth October, 2005.
(ii) Issue Price.—The issue price will be Rs. 100.00 for every Rs. 100.00 (Nominal) of the Loan applied for.
(iii) Interest.—The Loan will bear interest at the rate of 8,25 per cent per annum from llth October, 1982. Interest will be ppld half-yearly on ihe llth April and llth October, The interest paid will, subject to the provisions of paragraphs 9 and 10 below, be liable to tux under the Income-tax Act, 1961.
6. 9.00 por cent Loon, 2013 (Thiid Issue) issued at Rs. 100.00 per cent and redeemable at par on the 24th May, 2013.
(i) Date of Repayment—The Loan will be repaid ut
par on the 24th May, 2013.
(ii) Issue Price.—The issue price will be Rs. 100.00 for every Rs. 100.00 (Nominal) of the Loan applied for.
(iii) Interest.—The Loan will bear interest ut the rate of 9,00 pcr cent per annum from llth October, 1982. Interest for the period from llth October, 1982 to 23rd November, 1982 (inclusive) will be paid on 24th November, 1982 and thereafter the interest will be paid half-yearly on the 24th May and 24th November. The interest paid will, subject to the provisions of paragraphs 9 and 10 below, be liable to tax under ihe Income-tax Act, 1961.
SUPPLEMENTARY PROVISIONS
7. Applications will be received at—
(a) Offices of Reserve Bant of India at Ahmedabad, Bangalore, Bombay (Fort and Byci)lla), Calcutta. Gauhati. Hyderabad, Jaipur, Kanpur, Madras, Nagpur, New Delhi and Patna.
(b) Branches of State Bank of India it all places in
India except at (a) above.
8. Place of Payment of Interest.—Interest on the Loans will be paid at the Public Debt Offices of Reserve Bank of India at Ahmedtibad, Bangalore, Bombay. Calcutta, Gauhati, Hyderabad, Jaipur, Kanpur, Madras, Nagpur, New Delhi an.l Patna and at any Treasury or Sub-Treasuiy elsewhere in India except the States of J.inimu and Kashmir and Sikkim.
9. Refunds- of tax deducted at the Unit 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 tax or who are liable to tax at rates lower thun the rate at which tax was deducted,
A holder who is not liable to tax or who ij 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 payment of interest to him without de- duction of tax or with deduction of tax at such lower rate as may be applicable to the holder,
An individual resident in India whose total income does not exceed the exemption limit can obtain, on furnishing a declaration to the prescribed form in duplicate to the person icspcnsible for paying thc interest, the amount of interest without deduction of tax,
10. Interest on the loans now issued together with interest on other previous Government Securities and income from other approved investments will be exempt from income- tax subject to a limit of Rs. 6,000 per annum and subject to the other provisions of Section 80L of the Income-tax Act, 1961.
11. The value of investments in the loans now issued to- gether with the value of other previous investment* in Gov- ernment Securities and the other investments specified in Section 5 of the Wealth-tax Act will also be exempt from the Wealth-tax uplo R&. 1,65,000.
12. The securities will be issued in the form of—
(i) Stock Certificates ; or (ii) Promissory Notes,
If no preference is stated by the applicants, ths securities
will be issued in the form of Promissory Notes.
13. Applications for the Loans.—Applications for the loans
must be for Rs. 100 or a multiple of that sum.
14. Applications may be in the form attached hereto or in any other form which states clearly the amount and des- cription cf the securities required, the full name and address of the applicant and thc office at which he desires the Interest to be paid.
15. Applications should, be accompanied by the necessary payment in thc form of cash or cheque. Cheques tendered at the office of Reserve Bank of India or State Bank of India fhould be drawn in favour of the bank concerned.
16. Brokerage will be paid at the rate of 6 paiie per Rs. 100,00 (Nominal) to recoeni"ed banks and broker* on allotments made in respect of applications for the loan" tendered by them and bearing their stamp.
The claim for payment of brokerage should be prefened at the concerned offices within six months from (he date of flontatlon of the loam.
By order of the President, A. C, TIWART, Jt. Secy.
5
FORM OF APPLICATION
J/We*
herewith
[Full Name(s) in Block Letters]
•Cash
tender • Rs
Choquo for
(Rs
j a nd
tn;iy be issued to request that securitios of 6.75 per cent Loan, 1989*77,25 per cent Loan, 1992 (Thiid Issue)*/8.25 for cent Lcpn, 2005*/9.0O per cent Loan, 2013 (Third Issue)* of the nominal value of Us me/us* in the forui of *PromissotyNote(£)inthedenomination(s)
Stock Certificate
stated below :—
Promissory Note(s)+of R" " e h.
Promissory Note(s)+of Rs Promissory Noto(s)+of Rs Promissory NotcW+of Rn
2. I/We* d"sire that intorost be paid at
e";h, each, "ach.
N.B.—The applicant should not wi ite anything inthiscago. The entries N.B.—The applicant should not wilite anything inthiscago. The entries
will be fillod in by the Receiving Office. will be fillod in by the Receiving Office.
Signature^)
Initials Date
Initials Date
Application No. Application No.
N.B. Stamp N.B. Stamp
Cash Received on Cash Received on
Cheque realised on Cheque realised on
Credited to Special Current Account on Credited to Special Current Account on
Examined Examined
Cash Applications Register posted Cash Applications Register posted
Brokearge Register Posted Brokearge Register Posted
Indent No. Indent No.
Sciip No. Sciip No.
Caid No. Caid No.
Voucher passed on Voucher passed on
Signatures)
Name(s) in full (Block Letters)
Addiess
|
i i i i
! Dated the of October, 1982
•Delete what is not required.
-(-Promissory Notes will be issued in denominations of Rs, 100, Rs. 200, Rs. 500, Rs. 1,000, Rs 5,000, Rs. 10,000, Rs. 25,000, Rs. 50,000 and Rs. 1,00,000. State here the particular denomination(s) requiied.
Notes.—(1) Separate applications khould be made for each Loan and each form of scrip (Stock Certificate or Promis- sory 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 narati, occu- paiion*. ant! addresses of the witnesses thould be appended to their signatures.
(3) If the application is made in the name of the registered body, the undernoted documents, if not already registered "t the Public De^bt Office, should be enclosed with the in- vestment application :—
(i) Certificate of Incorporation/Registration in original or a copy thereof certified as true by (he issuing authority under his office sea!.
(ii) Certified copies of Memorandum ana Articles Of Association or the Rules and Regulations /By-laws of the company /body.
(iii) Certified copy of resolution in favour of the per- son ft authorised to deal in Government Securities en behelf of the company/body together with his/ their duly attested specimen signaturc(s).
(4) Applicants desiring the issue of scrips in the form of Stock Certificates thould also complete a Mandate Form (obtainable from Public Deht Office) for remittance of half- ycnrly interest to them.