THE GAZETTE OF INDIA : EXTRAORDINARY

(PART I—Sec. 1]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 19th September, 1983

No. F. 4(5)W&M|83.—Subscriptions for the

issue

7.75 per

cent. Loan, 1991 (Second

Issue), 8.25 per cent. Loan 1995 and 10.00 per

cent. Loan, 2014 (Third Issue) for an aggregate

amount of Rs. 600 crores will be received in the

form of cash on the 30th September 1983 upto

the close of Banking hours. In the event of 30th

September 1983 being declared a holiday by any

State Government under the

negotiable Instru-

ments, Act, 1881, the

subscriptions will be re-

ceived at the concerned receiving offices in that

State upto the close of Banking hours on the next

working day. Government reserve the right

retain subscriptions received upto 10 per cent.' in

excess of the sum of Rs. 600 crores.

2. If the total

subscriptions to the

aforesaid

loans exceed the sum of Rs. 660 crores, partial

allotment will be made in respect of the loans on

proportionate basis. If

partial allotment

made, the excess subscriptions will be refunded as

soon as

possible after partial allotment. No in-

terest will be paid on the amounts so refunded.

7.75

per

cent. Loan,

1991 (Second 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

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 annum

from 30th

September 1983.

The in-

terest for the period from 30th Septem-

ber 1983 to 14th

January 1984 (in-

clusive) will be

paid on 15th January

1984 and

thereafter interest will

paid half-yearly on the 15th Jully and

15th January.

The interest paid will, subject to the provi-

sions of paragraphs 8 and 9 below, be liable to

tax under the Income-tax the Act, 1961.

4. 8,25

per

cent.

Loan,

1995 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 September

1995.

(ii) Issue Price:—The issue

price will

Rs. 100.00 for every Rs. 100.00 (No-

minal) of the Loan applied for.

(iii) Interest:—The Loan will bear interest at

the rate of 8.25 per cent, per annum from

30th September 1983. Interest will be

paid half-yearly on the 30th March and

30th September. The interest paid will,

subject to the provisions of paragraphs

8 and 9 below, be liable to tax under

Income-tax Act, 1961.

5. 10.00 per cent loan, 2014 (Third

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

Rs. 100.00 for every Rs. 100.00 (No-

minal) of the Loan applied for.

(iii) Interest:—The Loan will bear interest at

the rate of Rs. 10.00 per cent, per an-

num from

30th September

1983. In-

terest for the period from 30th Septem-

ber 1983 to 29th November 1983 (in-

clusive) will be paid

on 30th Novem-

ber 1983 and thereafter interest will be

paid half-yearly on the 30th May and

30th November. The interest paid will,

subject to the provisions of paragraphs

8 and 9 below, be liable to tax under

the Income-tax Act, 1961.

SUPPLEMENTARY PROVISIONS

6. Applications will be received at —

(a) Offices of the Reserve Bank of India at

Ahmedabad, Bangalore, Bhubaneswar,

Bombay (Fort and Byculla), Calcutta,

Gauhati, Hyderabad, Jaipur, Kanpur,

Madras, Nagpur, New Delhi, Pataa and

Trivandrum; and

(b) Branches of the State Bank of India at

all the DISTRICT HEAD QUARTERS

in India except at (a; above,

7. Place of Payment of Interest.—Interest on

the Loans will be paid at the Public Debt Offices

of the Reserve Bank of India at Ahmedabad,

Bangalore,

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 State 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 rates 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 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.

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 80L of the In-

come-tax Act, 1961.

10. The value of investments in the loans now

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 applicant, the

securities will be issued in the form or Promissory

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 applicant

and the office at which he desires the interest to

be paid.

14. Applications

should

accompanied

by the necessary payment In the form of cash or

cheque. Cheques tendered at the office of the Re-

serve 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. 100.00 (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 brokage 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

I/Wo*

(Full namfi(s) in Block Letters)

*Cash

herewith tender

•

—

•—Rs

(Rupees

Cheque for

and request that Securities of 7.75 per cent, Loan, 199] (Second Issue)*/8.25 por cent. Loan, l995*/10.00 per cent. Loan, 2014

756 GJ/83—2

THE GAZETTE OF INDIA : EXTRAORDINARY

TPART I—SEC. 11

(Third Issue)* of the nominal valuo of Rs

may b«

issued to me/us* in the form of

*Promissory Note(s) in the denomination(s) stated below:—

Stock Certificate.

Promissory Note(s)+of Rs

each.

Promissor/

Noto(s)+of

Rs.

each.

Promissory Note(s)+of Rs

each.

2. I/We* desire that intacost bo paid at

Signature (s)

N.B.—-The applicant should no\ write anything in this cage.

N,ime (s) i.i full

The entries will bo filled in by the Receiving Offic*.

(Block Letters)

Initials

Date

Application I4jt •-

-• -_^

„ . . .

N.B. Stamp

Address

Cash received on

Cheque realised on

Credited to Special Current Account

Examined

...:

Cash Applications

Brokerage Register posted

Indent No

Scrip No

•.

Card*Jo

Dated the

Voucher passed on . •

of Soptember 1983.

•Delote what is not required.

+Fromissory Notes will bo issued in denomination of Rs. 100, Rs. 200, Rs, 500, Rs. 1,000, Rs. 5,000, Rs. 10,000, Rs. 25,000,

Rj. 50,003 and Rs, 1 00,033. State here the particular denoraination(s) requirod.

NOTE⁵!.— (1) Soparate applications should bo made for each Loan, oach form of subscription and each form of scrip (Stotck Certificate

or Promissory Note) of th« 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 bo appended to their signatures.

(3) If the application is made in tha name of the registered body, the undernotod documents, if not alroady registered at the

Public Debt Offlco, should be enclosed with the investmont application:—

(i) Certificate of Incorporation/Registration in original or a copy thereof certified as truo by the issuing authority

under his offlco seal.

(ii) Certified copies of Memorandum and Articles of Association or the Rules and Regulations/By-laws of tho com-

pany/body.

(Hi) Cetriflad copy of resolution In favour of the penton/s authorised to deal in Government securities on behalf of the

company/body together with his/their duly attested specimen sigaature(i).

(4) Applicants desiring the issue of scrips in the form of Stock Certificates should also complete a Mandate Form (obtainable

from Public Debt Offloe) for remittance of half-yoaily interest to them.

PMNftD BY THB MANAOBtt, OOVT. OF 1NMA FFB9S, UNO ROAD, NBW DEUn-110064

AND rUllIJOHHD IV W E CONTKOLLBR OF PUBLICATIONS, DELH1-110054, 1983