Subject NOT available

click here for IIIF manifest

REGISTERED NO. D. (D.N.)-72

The Gazette of India

EXTRAORDINARY

PART I—Section 1

PUBLISHED BY AUTHORITY

No. 821 NEW DELHI, MONDAY, JUNE 25, 1984/ASADHA 4, 1906 Separate Paging is given to this Part in order that it may be filed as a separate compilation

386 GI/84

3

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Elclhi, the 25th June, 1984

No. R. 4(.5)/W&M/84.—Subscription for the issues off 8.50 per cent Loan, 1994 (Second issue), 9.50 per cent Loan, 2004 (Second Issue) and 10.25 per cent Loan, 2012 (Second Issue) for an aggregate Amount of Rs. 700 crores will be received in the form of cash or of securities of Government of India 5i% Loan, 1984 on the 9th July 1984 upto'the close of Banking hours. In the event of 9th July 1984 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 rig^it to retain subscriptions received upto 10 per cent in excess of the sum of Rs. 700 crores.

2. If the total subscriptions to tfie aforesaid loans exceed the sum of Rs. 770 crores, partial allotment will be made to the subscribers in cash on a propor- tionate basis. If partial allotment is made, the excess subscriptions will be refunded as soon as possible after partial allotment. No interest will be paid on the amounts so refunded.

3. 8.50 per cent Loan, 1994 (Secdnd Issue) issued at Rs. 100.00 per cent and redeemable at par on the 1st June 1994.

(i) Date of Repayment—The Loan will be re-

paid at par on the 1st June 1994.

(ii) Issue Price—The issue price will be Rs. 100.00 for every Rs. 100.00 (Nominal) of the Loan applied for.

(in) Interest—The Loan will bear interest at the

rate of 8.50 per cent per annum from 9th July 1984. Interest for the period from 9th July 1984 to 30th November 1984 (in- clusive) will be paid on 1st December 1984 and thereafter interest will be pajd half- yearly on the 1st June and 1st December.

The interest paid will subject to the provi- sions' of paragraphs 9 and 10 below, be liable to tax under the Income-tax Act 1961. The net amount of interest will be paid after rounding off to the nearest 5 paise.

4. 9.50 per cent. Loan, 2004 (Second Issue) issued at Rs. 100.00 per cent, and redeemable at par on the, 1st June 2004.

(i) Date of Repayment—The Loan will be re-

paid at par on the 1st June 2004.

(ii) Issue Price—The issue price will be Rs. 100.00 for every Rs. 100.00 (Nami- nail) of the Loan applied for.

(iii) Interest—The Loan will bear interest at the rate of 9.50 per cent, per annum from 9th July 1984. Interest for the period from 9th July 1984 to 30th November 1984 (in- clusive) will be paid on 1st December 1984 and thereafter interest wilt be paid half-yearly on the 1st June and 1st December. The in- terest paid will, subject to the provisions of paragraphs 9 and 10 below, be liabte to tax under the Income-tax Act, 1961. The net amount of interest will be paid after rounding off to the nearest 5 paise.

5. 10.25 per cent. Loan, 2012 (Second Issue) issued at Rs. 100.00 per cent, and redeemable at par on the 1st June 2012.

(i) Date of Repayment—The Loan will be re-

paid at par on the 1st June 2012.

(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 10.25 per cent per annum from 9th July 1984. Interest for the period from 9th July 1984 to 30th November 1984 (inclu- sive) will be paid on 1st December 1984 and thereafter interest will be paid half- yearly on the 1st June and 1st December. The interest paid will, subject to the provi- sions of paragraph 9 and 10 below, be liable to tax under the Income-tax Act, 1961. The

net amount of interest will be paid after rounding off to the nearest 5 paise.

CONVERSION TERMS

6. The securities of M¹/;' Loan, 1984 will be accep- ted for conversion into the new loans at par. Interest on the securities of 5-112% Loan, 1984 tendered for conversion will be paid at (he rate of 51 per cent pei annum upto and inclusive of the 30th June j9R4. In addition, anticipatory interest will be paid according to the rate of interest of the new Loan applied for, i.e. 8.50 per cent, 9.50 per cent or 10.25 per cent per annum, as the case may be, for eight (8) clays, i.e. from 1st July to 8th July 1984 at the time of issue of new securities.

SUPPLEMENTARY PROVISIONS

7. Applications will be received al—

(a) Offices of the Reserve Bank of India at Ahmedabad, Bangalore, Bhubaneswar, Bom- bay (tort and Byculla), Calcutta, Gauhali, Hyderabad, Jaipur, Kanpur, Madras, Nagpur, New Delhi, Patna and Trivandrum, and

(b) Branches of the State Bank of India at all the DISTRICT HEADQUARTERS 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 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 Stntes of Jammu and Kashmir and Sikkim.

5

income from other approved investments will be ex- empt from income-tax subject to a limit of Rs. 7,000 per annum and subject to the other provisions of Sec- tion SOL of the Income-tax Act, 196 J -

11. The value of investments in the loans now issued together with the value of other previous in- vestments in Government Securities and the other investments specified in Scetio'n 5 of the Wealth-tax Act will also be exempt from the Wealth-tax upto Rs. 2,65,000.

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, the secu- rities 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 here- to or in anv other form which states clearly the amount and description of the securities required, the full name and address of the applicant and the office at which he desires the interest to be paid.

15. Applications should be accompanied by the necessary p-ayment in the form of cash or cheque or securities of the 5i per cent Loan, 1984 which are being offered for conversion. Cheques tendered at the office of the Reserve Bank of India or lhL- State Bank of India should be drawn in favour of the bank concerned.

The securities tendered for conversion must be

transferred by the holder to the Government—

(i) In the case of Stock (Certificates, by signing the form of transfer deed o> the reserve of the certificate before a witness.

(ii) in the case of Promissory Notes, bv endor- sing them in the manner indicated below :

FORM OF APPLICATION

I/We*.

[Full Name(s) in Block Lett.rs]

*cash

herewith tender •

Rs.

(Rupees

)/ Cheque for

*Securities of 5-i/2 per cent. Loan, 1984 of the nominal value ofRs

(Rupees r ) and request that Securities of 8.50 percent Loan, 1994 (Second Issue) */9.50 per cent ^Loan, 2004 (Second Issue)*/10.25 percent maybe Loan, 2012 (Second Issue)* of the nominal value of Rs

*Promissory Note(s) in the issued to me/us* in the form of p-omissory Note(s) in the denomination(s) stated below :—.

Stock Certificated

~

Promissory Note(s) -f- of Rs

eacfj Promissory Note(s) + of Rs

^

e a cn

Promissory Note(s) 4- of Rs

each 2. I/We* desire that interest be paid at

-

N.B. —The applicant should not write anything in this cage. i

The entries will be filled in by the Receiving Office. i •

r , Signature^)

Initials Date - T . .. .

__

__ Name(s) in full

(Block Letters) Application No

i

: , i

'

N.B. Stamp Cash Received on

; I j ,

I Address

Cheque Realized on

| i

credit to Special Current Account on ,

Examined

,

Cash Applications Register posted i i

Brokerage Register posted i .. . .. .i

Indent No

; j

-

Script

I | j

Card No

, , ,

Voucher pased on

; j

I

i Dated the of M y, 1984

•Delete what is not required.

-f Promissory Motes will be issued in denomination 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) required.

Notes: (i) Securities tendered for conversion should be endorsed with the words 'Pay to the President of India' over the signature of the applicant/s, if *hcy are in the form of Promissory Notes and the transfer deed on the reverse should bi signed by him/them before a witness, if they are in the form of Stock Certificates.

(2) Separate applications should be made for each Loan, each form of subscription and each form of s*- ipt (Stock:

Certificate or promissory Note) of the New Loan required.

(3) If the applicant's signature is by thumb mark, it should be witnessed by two persons. The full nam;-;, occupations and addresses of the witnesses should be appended to their signatures.

(4) If the application is made in the name of the registered body, the undernoted documents, if not already registered at the Public Debt Office, should be enclosed with the investment application :—

(i) Certificate of Incorporation/Registration in original or a copy thereof certified as true by the issuing authority under his office seal.

(ii) Certified copies of Memorandum and Articles of Association or the Rules and Regulations/Bye-laws of the company/ body,

(iii) Certified copy of resolution in favour of the person/s authorised to deal in Government securities on behalf of the company/body together with his/their duly attested specimen signature(s).

(5) Applicants desiring the issue of scrips in the form of Stock Certificates should also complete Mandate Form (obtainable from Public Debt Office) for remittance of half-yearly interest to them.

PRINTED BY THE MANAGER, GOVT. OF INDIA PRESS, RING ROAD, NEW DELHI-110064

AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI" 1 1 0 0 5 4, 1 9 84