SIGN IN SUBSCRIBE

News Update

Israel shuts down Al Jazeera; seizes broadcast equipmentIndia to wait for Canadian Police inputs on arrest of men accused of killing Sikh separatist: JaishankarLabour Party candidate Sadiq Khan wins record third term as London MayorArmy convoy ambushed in Poonch sectorDeadly floods evict 70K Brazilians out of homes; 57 killed so farGovt scraps ban on export of onionFormer Delhi Congress chief Arvinder Singh Lovely joins BJP with three moreUS Nurse convicted of killing 17 patients - 700 yrs of jail-term awardedGST - Payment of pre-deposit through Form GST DRC-03 instead of the prescribed Form APL-01 - Petitioner attributes it to technical glitches - Respondent is the proper authority to decide the question of fact: HC2nd Session of India-Nigeria Joint Trade Committee held in AbujaGST - Since SCN is bereft of any details and suffers from infirmities that go to the root of the cause, SCN is quashed and set aside: HC1717 candidates to contest elections in phase 4 of Lok Sabha Elections7th India-Indonesia Joint Defence Cooperation Committee meeting held in New DelhiGST - Neither the Show Cause Notice nor the order spell out the reasons for retrospective cancellation of registration, therefore, the same cannot be sustained: HCMining sector registers record production in FY 2023-24GST - If the proper officer was of the view that the reply is unclear and unsatisfactory, he could have sought further details by providing such opportunity - Having failed to do so, order cannot be sustained - Matter remanded: HCAnother quake of 6.0 magnitude rocks Philippines; No damage reported so farTrade ban: Israel hits back against Turkey with counter-measuresCongress fields Rahul Gandhi from Rae Bareli and Kishori Lal Sharma from AmethiFormer Jharkhand HC Chief Justice, Justice Sanjaya Kumar Mishra appointed as President of GST TribunalSale of building constructed on leasehold land - GST implication
 
NHAI public issue of tax-free bonds to open on Wednesday

By TIOL News Service

NEW DELHI, JAN 14, 2014: THE National Highways Authority of India (NHAI) has announced the public issue of tax free, secured redeemable, non convertible bonds in the nature of debentures of the face value of Rs. 1,000 each (“Bonds”), for an amount of Rs. 1,00,000 lakhs with an option to retain oversubscription up to Rs. 2,69,840 lakhs aggregating to a total of Rs. 3,69,840 lakhs. The proposed Bonds have been rated “CRISIL AAA/Stable” by CRISIL; CARE “AAA” by CARE and “BWR AAA with Stable Outlook” by Brickwork. The issue opens on January 15, 2014 and closes on February 5, 2014 with an option of early closure. The Bonds are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.

The Bonds are offered with two different Series, i.e. with tenor of 10 years and 15 years. The coupon rate for Individual and HUF investors applying for an amount up to Rs. 10 lakhs shall be 8.52% and 8.75% for the Bonds with tenor of 10 years and 15 years, respectively. For all other investors, the coupon rate shall be 8.27% and 8.50%, respectively. As Bonds carry tax benefits under section 10(15) (iv) (h) of the Income Tax Act, 1961, as amended, the income earned by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income.

The minimum application size is 5 Bonds (Rs. 5,000) individually or collectively across both Series of Bonds and in multiples of 1 Bond (Rs. 1,000) thereafter. The investors can download the application form for the Issue from the websites of the Lead Managers at www.edelweissfin.com, www.akcapindia.com, www.axiscapital.co.in and www.icicisecurities.com and the websites of the stock exchanges at www.bseindia.com and www.nseindia.com.

The Allotment shall be made on first come first serve basis determined on the basis of date of upload of Applications on the electronic Application platform of the stock exchanges. The Allotment of the Bonds shall be in dematerialized form as well as physical form. However, trading in Bonds shall be compulsorily in dematerialised form.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST