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Full text of "Extraordinary Gazette of India, 1995, No. 370"

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EXTRAORDINARY 

m»r i 

PART I—Section 1 

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PUBLISHED BY AUTHORITY 


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No. 231] NEW DELHI, THURSDAY, DECEMBER 21, 1995/AGRAHAYANA 30, 1917 


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THE GAZETTE OF INDIA . EXTRAORDINARY; [Fart I— I] 


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4 


THE GAZETTE OF INDIA : EXTRAORDINARY 


[Part I—Sec. 1] 


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MINISTRY OF FINANCE 
(Department of Economic Affairs) 

(Budget Division) 

NOTIFICATION 

New Delhi, the 21st December, 1995 
Sale of 13.85 per cent Government Stock, 2000 

F.No.F.4(4)-W&M/93.—Government of India hereby 
notifies sale of 13.85 per cent Government Stock of 5 year 
tenure for an aggregate amount of Rs. 2,000.00 croro 
(Nominal). 

Eligibility for Investment 

2. Investment in the Government Stock may be madeby 
any person resident in India including firms, companies, 
corporate bodies, institutions, state governments, provident 
funds and trusts. However, investment by a person who is 
not citizen of India or a foreign company having its office 
in India shall be subject to the provisions of the Foreign 
Exchange Regulation Act, 1973 in addition to the other 
provisions of laws applicable to Government Stock as per the 
terms as stipulated hereinafter. 

Method of Issue 

3. (i) Government Stock will be sold thr ough the Reserve 
Bank of India, Fort, Bombay-400001. 

(ii) In case the total subscription exceeds the sum of Rs. 
2,000 crore, the Reserve Bank of India may make partial 
allotment to all the applicants. 

(iff) Reserve Bank of India will have the discretion to accept 
or reject any or all applications either wholly or partially if 
it deems it appropriate to do so, without assigning any reason. 


(iv) The amount of excess subscription in terms of clause 
(ii) of this paragraph or amount of subscription in case of 
rejection of application in terms of clause (iii) of this para¬ 
graph, will be refunded by the Reserve Bank of India to the 
respective subscribers as soon as possible and no interest will 
be paid on the amount so refunded. 

Minimum Subscription 

4. Government Stock will bo issued for a minimum amount 
of Rs. 10,000/- (Face Value) and in multiples of Rs. 10,000/- 
thcreafter. 

Application Form 

5. (i) Applications for purchase of Government Stock 
should be submitted by interested persons in the prescribed 
form of application given in Anncxure hereto. 

(ii) Blank application forms may be obtained from the 
Public Debt Office of the Reserve Bank of India, Fort, 
Bombay-400001. 

(iii) The application form, duly filled in, together with 
payment therefor in cash or by cheque drawn on Reserve 
Bank of India, Bombay or by Banker’s pay order should be 
submitted to the aforesaid Office on December 27, 1995, 
before the close of banking hours i.e. 2.30 p.m. Interested 
persons submitting applications for purchase of the Govern¬ 
ment Stock shall be bound also by the terms and conditions 
as included in the prescribed form of application (Anncxure). 
The total amount of Government Stock applied for by a per¬ 
son should not exceed the amount of Rs. 2,000 crore. 

IsBue Price 

6. 13.85 per cent Government Stock, 2000 will be issued at 
Rs. 100.00 per cent. 



iriT?r ifrr : irernjTnT 


5 


[*mr T—srur 1 ] 


Participation by Reserve Bank of India 

7. The Reserve Bank of India may also, If it considers 
appropriate to do so, subscribe to the Government Stock. 

Commencement of the tenure 

S. The tenure of the Government Stock will commence 
from December 27, 1995. 

Form of Security 

9. The Government Stock shall be issued in the form of 
Stock Certificate or Subsidiary General Ledger Account as 
referred to in Rule 5 of the Public Debt Rules, 1946. 

Interest 

10. (i) Tho Government Stock will bear interest at 13.85 
per cent per annum’and will bo paid from December 27, 1995. 
Interest on the Stock will be paid half-yearly at the Public. 
Debt Offices of the Reserve Bank of India at Ahmedabad, 
Bangalore, Bhubaneswar, Bombay, Calcutta, Guwahati, 
Hyderabad, Jaipur, Kanpur, Madras, Nagpur, New Delhi, 
Patna and Thiruvananthapuram, branches of State Bank of 
India and associate banks conducting government business 
and at any Treasury or Sub-Treasury served by the Public 
Debt Office where there is no office of Reserve Bank of India 
or branch of State Bank of India or its associates except the 
States of Jammu & Kashmir and Sikkim. 

(ii) Interest will be paid after rounding off to the nearest 
whole rupee. For this purpose, amount of interest less than 
fifty paiae will bo ignored and fifty paise or more will be roun¬ 
ded off to the next rupee. 

Date of Repayment 

U, The Government Stock will be repaid at par on Decem¬ 
ber 27, 2000 at Public Debt Office of the Reserve Bank of 
India at which they are registered at the time of repayment. 


Transferability of Government Stock 

12, (i) The Government Stock can be renewed, sub-divided, 
consolidated, converted and transferred in accordance with the 
provisions of the Public Debt Act, 1944, the Public Debt Rules, 
1946 framed thereunder and the terms of (his notification 
and any further notification which may be issued by the- 
Government of India from time to time in respect of the issue 
covered by this notification. 

(ii) The conversion of the security issued pertaining to the 
Government Stock from one form to the other will be subject 
to the restriction with respect to the forms in which the Go¬ 
vernment Stock shall be issued. 

Laws applicable in regard to the Government Stock 

13. (i) The rights of nil persons subscribing to or holding 
tho Government Stock shall be determined with all such 
questions as arc dealt with by the Public Debt Act, 1944 and 
the Public Debt Rules, 1946 read with the terms of this Noti¬ 
fication and such other Notifications as may be issued from 
time to time, by the Government of India in this regard or 
by the terms of Press Releases as may be issued in future by 
Reserve Bank of India, in consultation with Government of 
India in this regard. 

(ii) The provisions of the tax laws for the time being in force 
in India will be applicable for the purposes of assossing and 
determining the liability of the investor or holder of the Go¬ 
vernment Stock. 

(iii) Any dispute in relation to tho Government Stock shall 
be decided by the Courts in India. 


By Order of the President of India 
RAMA MURALI, Jt. Sccy. (CC&A&B) 


Annexure 

The Chief General Manager 
Reserve Bank of India 
Public Debt Office 
Fort, Bombay-400001. 

Application for 13.85 per cent Government Stock, 2000. 

Pursuant to Government of India, Ministry of Finance, Department of Economic Affairs Notification F.No * 

F.4(4>W&M/95 dated December 21, 1995, "T/We—-- . - __________ 

(full namc(s) in Block letters) herewith tender *Cash/Cheque drawn on Reserve Bank of India, Bombay/Banker's 

Pay Order for Rs.-(Rupees----) 

and request that 13.85 per cent Government Stock, 2000 of the nominal value of Rs,-may be issued 

to *me/us in the form of *Stock Certificate/Credit to *my/our SGL Account (No.—-----) 

2. *I/We desire that interest be paid at—-------—_, 

3. *I/We have read the terms and conditions governing the issuance of Stock in the aforesaid Government 
Notification and undertake to abide by the same and also by the terms and conditions as included in the prescribed 
bed Form of Application, 


N.B.: The applicant should not write anything in this cage. The 
entries will be filled in by the Public Debt Office 


Signature - 
Name in full 


3057 GI/95—2. 


(Block letters) 








6 


THE GAZETTE OF INDIA : EXTRAORDINARY 


[Part I—Sec. 1] 


Initials Date 


Application No.--—-- • -■ ■—- ——---- 

Timo of receipt-——-— --—■ -- 

Cash/Cheque drawn on Reserve Bank of India, Bombay/Bankor’s Pay 

Order receivod/realised on --—-—-- - - 

Credited to special Current Account on-— 

Examined-—---—-- --•- 

Cash applications Register posted-- 

Indent No.-———-—-— - 

Script No.--—----— 

Card No.-— ■■ -— 

Voucher on -——-—--- 


‘deleto what is not required. 


Office Stamp 
Address: — 


Tel No. 
Date: - 


Notes: 

(1) If the applicant's signature is by thumb mark, it should be witnessed by two persons. The full name, 
occupation and address of the witnesses should be appended to their signature, 

(2) If the application is made in the name of a registered body, the undernotod documents, if not already 
registered at the Public Debt Office, should be submitted to the Public Debt Office alongwith the investment 
amount: 


(i) Certificate of Incorporation/Registration in original or a copy thereof certified as true by the issuing 
authority under his official 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 person/s authorised to deal in Government Securities on 
behalf of the company/body together with his/their duly attested specimen signature(s). 

(3) Applicant should also complete a mandate Form (obtainable from Public Debt Office) for remittance 
of half-yearly interest on Stock Certificate/s issued to them. 

Terms and Conditions 

1. Government Stock will be issued for a minimum amount of Rupees Ten Thousand and in multjpies thereof 

2 . The Reserve Bank of India will have the discretion to accept or reject any or all applications either 
wholly or partially without assigning any reason. 

3. Government Stock will be issue to the parties by credit to their Subsidiary General Lodger Account main¬ 
lined with Reserve Bank of India and in the form of Stock Certificate to others. 


.■Tinted by the Manuger, Govt, of India Press, King Road, Maya Puri, New Delhi-110064 
and Published by the Controller of Publications, Delhi-110054, 1995