Capital Gain
New Issue Details 54 EC Capital Gains Tax Exemption Bonds Series VIII:
The broad terms approved for the launch of the 54 EC Series –VIII Bonds issue for the year 2008-09 to be opened on 28th May 2008 are as under:
Structure
REC Capital Gain Tax Exemption Bonds Series-VIII
Rs, 10,000/-
Private Placement
One Bond of Rs.10000/-
500 Bonds of Rs.10000/- as per the conditions laid in the Finance Act, 2007
100% on application
Last day of each month in which the subscription money is realized and credited to REC account.
5.75% (payable annually on 30th June) from the date of realization of cheque/draft in account of REC. Ist interest will be payable on 30th June, 2009.
Upto 31st March, 2009. However, the corporation would have a right to close the issue any time by giving a prior notice of 5 days in any two leading dailies.
3 years from the deemed date of allotment.
At par, at the end of 3 years from the deemed date of allotment.
Non-Transferable.
English mortgage creating pari-pasu charge over REC’s immovable property and charge on receivables of REC to the satisfaction of the trustee.
KYC at page 3 of Application form is to be got filled.
Applications should be in multiple of Rs.10000/ strictly or the Banker would refuse the acceptance.
Applications once submitted can not be withdrawn.
Application Forms can also be downloaded from our website:
rec.rcmcdelhi.com
Download application here.