Repayment of 7.47% Oil Marketing Companies' Government of India Special Bonds, 2012
March, 02nd 2012
PRESS INFORMATION BUREAU
GOVERNMENT OF INDIA
REPAYMENT OF 7.47% OIL MARKETING COMPANIES' GOVERNMENT OF
INDIA SPECIAL BONDS, 2012 ON MARCH 7, 2012 AND 7.44% OIL
MARKETING COMPANIES' GOVERNMENT OF INDIA SPECIAL BONDS, 2012 ON
MARCH 23, 2012
New Delhi: Phalguna 10, 1933
February 29, 2012
The outstanding balances of 7.47% Oil Marketing Companies'
Government of India Special Bonds, 2012 and 7.44% Oil Marketing
Companies' Government of India Special Bonds, 2012 are repayable at
par on March 07, 2012 and March 23, 2012 respectively. No interest
will accrue there on from the said dates. In the event of a holiday being
declared on March 07, 2012 and/ on March 23, 2012 by any State
Government under the Negotiable Instruments Act, 1881, the loan will be
repaid by the paying offices in that State on the previous working day.
As per sub-regulation 24(2) and 24(3) of Government Securities
Regulations, 2007 payment of maturity proceeds to the registered holder of
Government Security held in the form of Subsidiary General Ledger or
Constituent Subsidiary General Ledger account or Stock Certificate shall be
made by a pay order incorporating the relevant particulars of his bank
account or by credit to the account of the holder in any bank having facility
of receipt of funds through electronic means. For the purpose of making
payment in respect of the securities, the original subscriber or the
subsequent holders of such a Government Securities, shall submit the
relevant particulars of their bank account well in advance.
However, in the absence of relevant particulars of bank
account/mandate for receipt of funds through electronic means, to
facilitate repayment of the loan on the due date, holders may tender the
securities, duly discharged, at the Public Debt Offices, Treasuries/Sub-
Treasuries and branches of State Bank of India and its Associate Banks (at
which they are enfaced /registered for payment of interest) 20 days in
advance of the due date for repayment.
Full details of the procedure for receiving the discharge value may be
obtained from any of the aforesaid paying offices.