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REC LTD.
Rural Electrification Corporation Ltd. (REC) is offering for subscription, on private placement basis, Non-Convertible Redeemable Taxable Bonds (the Bonds) of the face value of Rs. 10,000/- each with benefits under Section 54 EC of the Income Tax Act, 1961 for long term Capital gains-Series VIII.
The minimum application shall be for 1 Bonds of Rs. 10,000/- each and maximum application shall not exceed 500 Bonds. However, the aggregate investment made/being made by applicants in the 54EC Bonds under Section 54EC of the Income Tax Act, 1961 during the financial year 2008-09 should not exceed Rs. 50 lakh.
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HOW TO APPLY
Investors are required to submit the Application Form duly filled alongwith necessary enclosures at the specified Collecting Bankers as indicated in the Information Memorandum under “List of Collecting Bank Branches”.
The investor must complete the application for the Bonds in the prescribed form, and in block letters in English.
The complete Application Form must be accompanied by either a Demand Draft or crossed Cheque of the amount as desired by the investor and made payable in favour of
"Rural Electrification Corporation Limited - 54EC Bonds". Demand Draft charges, if any, shall be borne by the applicant.
Cheques/Demand Drafts may be drawn at any collection centre (as mentioned in the Information Memorandum) where application form is being
deposited.
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