Canara Bank :: Accounts & Deposits

TICKER: "INVESTMENT OPPORTUNITY IN "54 EC CAPITAL GAINS TAX EXEMPTION BONDS"

The Capital Gain Bond Issues of Rural Electrification Corporation of India Ltd. (REC Ltd) and National Highway Authority of India (NHAI) are at present open for Subscription.

FOR WHOM:

This Investment opportunity suits those for whom Capital Gain arises from the transfer of long term capital assets. The Investment in these Bonds is to be made within six months from the date of such transfer of capital assets (Land/House Property etc.) for being exempted from Capital Gains Tax. (Benefits under section 54EC of IT Act, 1961).

Please find furnished below the HIGHLIGHTS of the above issues:

DETAILS	REC LTD	NHAI
Credit Rating	'AAA' Stable by CRISIL/ 'LAAA' by ICRA, 'CARE AAA' by CARE 'AAA (ind)' by Fitch Ratings	"AAA/stable" by CRISIL "AAA/ind" by Fitch Ratings and "AAA" by CARE.
Face Value	Rs.10,000/- per Bond	Rs.10,000/- per Bond
Issue Price	Rs.10,000/- per Bond	Rs.10,000/- per Bond
Issue Opening Date	28.05.2008	11.05.2009
Issue Closing Date	31.03.2010 (REC reserves the right to close the issue by giving a prior notice of 5 days in any two leading National dailes)	31.03.2010 or on an early date as decided by NHAI
Mode of Issue	Private Placement	Private Placement
Minimum Application Size	One Bond of Rs.10,000/- and in multiples of one Bond thereafter	Five Bonds of Rs.10000/- each (Rs.50000/-) and in multiple of one Bond thereafter.
Maximum Application Size	500 Bonds of Rs.10,000/- each.(Rs.50,00,000.00)	500 Bonds of Rs.10,000/- each.(Rs.50,00,000.00)
Mode of Subscription	100% on application	100% on application
Cheque / Draft to be drawn in the name of	"RURAL ELECTRIFICATION CORPORATION LTD - 54EC BONDS"	"NATIONAL HIGHWAYS AUTHORITY OF INDIA"
Deemed Date of Allotment	Last day of each month in which the subscription money is received and credited in REC account	Last day of each month for Application money cleared and credited in NHAI’s Collection account.
Tenor	3 Years	3 Years
Redemption/Maturity	At par, at the end of 3 Years from the deemed date of allotment.	At par, at the end of 3 Years from the deemed date of allotment.
Lock in period	3 Years	3 Years
Transfer	Non-Transferable.	Non-Transferable.
Trustee	IDBI Trusteeship Services Ltd, Mumbai.	Syndicate Bank, New Delhi
Registrars	RCMC Share Registry Pvt Ltd., B-106, Sector-2, NOIDA U.P.-201301 Ph.: 0120-4015880-81, Fax : 0120 - 2444346 E-mail : rcmc@dimensioni.net	M/s Beetal Financial & Computer Services (P) Ltd., "Beetal House", 3rd floor, 99, Madangir, Behind Local Shoppng Centre, New Delhi – 110 062. PH: 011-29961281-83. Fax: 011-29961284. e-mail:beetal@beetalfinancial.com
Interest Payment	Annual	Annual
Coupon Rate	6.25% (w.e.f. 01.11.2008) payable annually	6.25% (w.e.f. 01.11.2008) payable annually
Repayment on Maturity at the end of 3 years (Rs)	Rs.10,000/- per bond	Rs.10,000/- per bond
Documents to be provided by all Investors	Self attested copy of PAN (In case of Joint application, self attested PAN copy of all applicants) or Form 60 Photo copy of cancelled cheque for ECS facility. Address Proof	Self attested copy of PAN (In case of Joint application, self attested PAN copy of all applicants) or Form 60 Photo copy of cancelled cheque for ECS facility. Address Proof

For further information / Application forms, contact our MBDs/CMSBs listed under contact information.