REGISTERED No. D. (D.N.)-72
The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 209] NEW DELHI, FRIDAY, DECEMBER 16, 1983/AGRAHAYANA 25, 1905 Separate paging is given to this Part in order that it may be filed as a separate compilation
1176 GI/83—1
(1)
2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]3
4 THE OAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1 ]MINISTRY OF FINANCE
(Dpartment of Economic Affairs)
NOTIFICATON
New Delhi, the 16th December, 1983
No. F. 4(5) W & M|83.—Subscriptions for the Issue), 8.25 per cent. Loan, 1495 (Third Issue) issue), 8.25 per cent. Loan, 1995 (Third Issue) and 10.00 per cent. Loan, 2014 (Fifth Issue) for an aggregate amount of Rs. 700 crores will be received in the form of cash on the 30th Decem- ber 1983 upto the close of Banking nours. In the event of 30th December, 1983 being declared a holiday by any State Government under the Nego- tiable Instruments Act, 1881, the subscriptions will be received at the concerned receiving offices in that State upto the close of Banking hours on the next working day. Government reserve the right to retain subscriptions received upto 10 per cent, in excess of the sum of Re. 700 crores.
2. If the total subscriptions to the aforesaid loans exceed the sum of Rs. 770 crores, partial allotment will be made in respect of the loans on a proportionate basis. If partial allotment is made, the excess subscriptions v/ill be refunded as soon as possible after partial allotment. No interest will be paid on the amounts so refunded.
3. 7.75 per cent. Loan, 1991 (Fourth Issue) issued at Rs. 100.00 per cent, and redeemable at par on the 15th July 1991.
(i) Date of Repayment—The Loan will be repaid at par on the 15th July 1991.
(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 7.75 per cent, per an- num from 30th December 1983. In- terest for the period from 30th Dec- ember 1983 to 14th January 1984 (inclusive) will be paid on 15th Jan- uary 1984 and thereafter interest will be paid half-yearly on the 15th July and 15th January. The interest paid will, subject to the provisions of paragraphs 8 and 9 below, be liable to tax under the Income-tax Act, 1961.
4. 8.25 per cent. Loan, 1995 (Third Issue) issued at Rs. 100.00 per cent, and redeemable at par on the 30th September 1995.
(i) Date of Repayment—The Loan will be repaid at par on the 30th Septem- ber 1995.
(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 30th December 1983. Intrest for the period from 30th December 1983 to 29th March 1984 (inclusive) will be paid on 30th March 1984 and thereafter interest will be paid half-yearly on the 30th September and 30th March. The interest paid will subject to the provisions of paragraphs 8 and 9 below, be liable to tax under the Income-tax Act, 1961.
5. 10.00 per cent. Loan, 2014 (Fifth Issue) issued at Rs. 100.00 per cent, and redeemable at par on the 30th May 2014.
(i) Date of Repayment—The Loan will be repaid at par on the 30th May 2014.
(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 10.00 per cent, per annum from 30th December 1983. Interest for ths period from 30th December 1983 to 29th May 1984 (inclusive) will be paid on 30th May
1984 and thereafter interest will be paid half-yearly on the 30th Novem- ber and 30th May. The interest paid will, subject to the provisions of parapraph 8 and 9 below, be liable io tax under the Income-Tax Act, 1961.
SUPPLEMENTARY PROVISIONS
6. Applications will be received at-—
(a) Offices of tke Reserve Bank, of India at Ahmedabad, Bangalote, Bhubaneswar, Bombay (Fort and Byculla), Calcutta, Gauhati, Hyderabad, Jaipur, Kanpur, Madas, Nagpur, New Delhi, Patna and Trivandrum; amd
(b) Branches of the State Bank of Tndia at all the DISTRICT HEADQUARTERS
in India except at (a) above.
7. Place of Payment of Interest.—fnteiest on the Loans will be paid at the Public Debt Offices of the Reserve Bank of India at Ahmedabad, Bang- alore, Bhubaneswar, Bombay, Calcutta, Gauhati, Hyderabad, Jaipur, Kanpur, Madras, Nagpur, New Delhi, Patna and Trivandrum and at any Treasury or Sub-Treasury elsewhere in India except the States of Jammu and Kashmir and
Sikkim.
8. Refunds of tax deducted at the time of pay- ment of interest (at the rates prescribed by the Annual Finance Acts) will be obtainable by hol- ders of the Loan who are not liable to tax or who are 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 certificate from the Income-Tax Officer of the district, authoris- ing payment of interest to him without deduction 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 in- come does not exceed the exemption limit can obtain, on furnishing a declaration in the pres- cribed form in duplicate to the person responsible for paying the interest, the amount of interest without deduction of tax.
5
9. Interest on the Loans now issued together with interest on other previous Government Secu- rities and income from other approved invest- ments will be exempt from Income-tax subject to a limit of Rs, 7,000 per annum and subject to the other provisions of section SOL of the Income- tax Act, 1961.
10. The value of investments in the loans sow issued together with the value of other previous investments in Government Securities and the other investments specified in section 5 of the Wealth-tax Act will also be exempt from the Wealth-tax upto Rs. 1,65,000.
11. The securities will be issued in the form
of—
(i) Stock Certificates; or (ii) Promissory
Notes.
If no preference is stated by the applicants, the securities will be 'issued in the form of Pro- missory Notes.
12. Applications for the Loans.-—Applications for the Loans must be for Rs. 100 or a multiple of that sum.
13. Applications may be in the form attached hereto or in any other form which states clearly the amount and description of the securities re- quired, the full name and address of the appli- cant and the office 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 Re- serve Bank of Tndia or tha State Bank of India should be drawn in favour of the bank concerned.
15. Brokerage will be paid at the rate of 6 Daise per Rs. 100.00 (Nominal) to recognised banks and brokers on allotments made in respect of applications for the loans tendered by them and
bearing their stamp.
The claim for payment of brokerage should be preferred at the concerned offices within six months from the date of floatation of the loans.
By order of the President A. RANGACHARI, Jt. Secy.
FORM OF APPLICATION
f/We*
[Full Nartr (s) in Bloi;k Letters]
tender Ca.sh* Rs
(Rupees
Cheque for
1176 GT/83—2
herewith ) and request thut Securities of 7.75
6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]percent. Loan,l991 (Fourth Issue)*/8.25 per cent. Loan, 1995 (Third Tssue)*/10.00 per cent. Loan, 2014 (Fifth Is*ue)* of the nominal value of R s may be issued to me/us* in the form of* Promissory Notc(s) in the denomination(s) stated below :—
Stock Certificate.
Promissory Note (s)+of R s cack.
Promissory Note (")+of R s each.
Promissory Note (s)+ofRs each.
2. I/We* desire that interest be paid at
N.B.—The applicant should not write anything in this cage. The entries will be filled in by the Receiving Office.
Initials Date Signature (s)
Name (9) in full
(Block Letters)
Address
Application No N.B. Stamp Cash received on Cheque realised on Credited to Special Current Account on Examined Cash Applications
• Register posted
Dated the
of December 1983.
Brokerage Register posted Indent No Scrip No Card No
V o u c h er p a s s ed on "
„ - _• • : J H_
-
• D e l e te w h at is n ot r e q u i r e d.
tPromissory notes will be issued in denomination ofRs. 100, Rs. 200,Rs. 500, Rs. 1,000,Rs. 5,000, Rv 10,000, Rs. 25,000, Rs. 50,000 and Rs. 1,00,000. State riere the particular L'enomlnatlon(s) required.
Notes: —(1) Separate applications should be made for each Loan, each form of subscription and each form of 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 witnesses should be appended to their signatures.
(3) If the application h made in the name of the registered body, the undernoted documents, if not already registered at the Public Deb. Office, shou'd be enclosed with the investment application :—
(i) Certificate of Incorporation/Registration in original or a copy thereof certified as true by the issuing authority urdei his Office seal,
(ii) Certified copies of Memorandum and Articles of Association or the Rules and Regulations/By-laws of the company/ body.
(iii) Certified copy of resolution in favour of the pcrson/s authorised to deal in Government securities on behalf of the company/body together with his/their duly attested specimen signature(s).
(4) Applicants desiring the issue of scrips in the form of Stock C?rtifica(es should also complete a Mandate Term (obtainable from Public Debt Office) for remittance of half-yearly interest to them.