9911796707
TMI BlogRepayment of 8 per cent Relief Bonds, 2002X X X X Extracts X X X X X X X X Extracts X X X X ..... eneral procedures to be strictly adhered to by the Agency banks in connection with the repayment of the bonds held under BLAs are given below : Issue of Advices to Investors 1. ( i ) The attention of the holders may be drawn to the ensuing maturity of their bonds one month before the date on which investment in the BLA is due for repayment as per the format given in Annexure I. The holders may be advised to submit the requisite documents 20 days in advance so that the repayment is effected on the due date itself. The advices should be sent by Registered/Speed Post. It should be ensured that the advices are sent only in respect of BLAs which are free from stoppage. ( ii ) Further, as you are aware, Government of India had provided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uld be ensured that all required details are furnished in the receipt before making payment. ( ii ) As per extant instructions, the investor is required to furnish the particulars of his PAN/GIR number, or a declaration in Form No. 60, in case the investor does not have PAN/GIR No., if the amount of repayment exceeds Rs. 1 lakh. Payment to the Investors 4. ( i ) Although the receipt in Form Annexure IA is submitted well in advance for repayment, it should be ensured that actual payment of discharge value is made only. ( ii ) On the due date, or later if the same is submitted after the due date of maturity. In the event of holiday being declared by the State Government under the Negotiable Instruments Act, 1881 on the maturity da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Payment Orders bearing the dates of redemption are prepared and kept ready/dispatched in case of request, so as to reach the holder at least one day in advance and for senior citizens, three days in advance. Interest payments 6. As regards BLAs held under non-cumulative scheme, the interest for last broken period should be paid along with the principal. The interest warrants pertaining to such investments should be dispatched on the due date of maturity irrespective of whether the investor has surrendered the COH/COI/discharge receipt for repayment or not. While despatching such interest warrants of matured BLAs, the covering letter addressed to the investor should indicate that the investment has matured on the specific date. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e data structure(s) advised by CAS, Nagpur, by the respective Link Cells. The claims must be duly supported by a certificate from the Internal/Concurrent Auditors to the effect that the repayment/interest figures have been checked 100 per cent and that the amount have already been paid to the investors, in the format enclosed to this circular. The agency banks/SHCIL must ensure that the details given electronically tally with details given in the auditor's certificate, failing which the claim will be liable for rejection. Further, while submitting Appendix IV (part D) and XII to PDO of jurisdiction the banks must ensure and confirm to PDO of jurisdiction that the details given by them to PDO of jurisdiction in Appendix IV (part D) and XII t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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