SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
 
DEEP DISCOUNT BONDS-SERIES I
REDEMPTION APPLICATION FORM
FOR OFFICE USE ONLY
DATE OF ACCEPTANCE

INWARD NO

Investor Services of India Ltd.,
IDBI Building, 2nd floor, "A" Wing, Post Bag No. 17, Plot Nos.39, 40 and 41, Sector 11,
CBD Belapur, Navi Mumbai-400 614.		 Date :
   
Regd. Folio No :
  
   
Dear Sirs,
With reference to your redemption notice dated July 24, 2001, I/We, the Registered holder(s) of the Deep Discount Bonds-Series-I offer these Bonds (Original Certificates enclosed) for redemption as per the details given below.
Bond Certificate No( s )
Distinctive No( s )
No. of bond(s)
No. of Certificate(s)




     
Permanent Account No. (PAN)/GIR:
I/We hereby request you to redeem the above bonds at the deemed face value of the bond(s). I/We shall not claim hereafter anything from SIDBI in respect of the redeemed bond(s).
Tick the following if applicable
15H declaration /
15AA exemption certificate(attach the form/certificate)
Transmission
(Please see Instruction no. 13)
Change of Status(Please see instruction No. 8) (Attach documentary evidence)
  Not available after February 1, 2002 viz. the date of redemption
Present Bank details
Fresh / changes in bank details i.e. name of bank, branch, account number etc. should be indicated below. These will be printed on the warrant. NRI bondholders are requested to furnish their NRO A/c No. along with the complete postal address of the Bank Branch having that account. (Pl. refer Instruction No. 5.)

   Type of A/c :

   A/c No. :

   Bank Name :

   Branch :

Give present postal address for sending the payment warrant (In capital letters)










Pin:
             

Tel:              
E-mail:
  



1)____________________


2)____________________


3)___________________
   Signature/Thumb impression of all Holders. (The thumb impression is to be attested by a person mentioned in item 8 of the instruction).

ACKNOWLEDGEMENT SLIP
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
                    Deep Discount Bonds - Series I
(To be filled in by the bondholder)    
 
For Office use only
Inward No.
Seal :


Date :
Received from Mr/Ms. ________________________ ____________________________No. of Deep
Discount Bond(s) bearing Certificate No(s) _____________________________________________
& Folio No. ____________________________for redemption.

INSTRUCTIONS

1.

 The Redemption Application Form must be accompanied by the duly discharged bond certificate(s).

2.)

 a. Bond certificate to be discharged by signing on the reverse of the bond certificate [any convenient place] by affixing Re.1/- revenue stamp. In case of two or more holders, all bondholders are required to discharge the bond certificate. No additional revenue stamp is required in this case. In case of discharge by thumb impression, the same should be attested by any of the person(s) indicated in item No. 8 hereunder.
  b) All statutory / corporate bondholders need to submit the following documents also along with the Redemption Application Form
    i)certified true copy of the Board resolution / power of attorney empowering the authorised signatories to give discharge on the bonds for redemption
    ii)specimen signatures of the authorised signatories duly certified by a banker / notary public

3.

Separate Redemption Application Form to be used for each folio.

4.

 The redemption warrant will be issued in the name of first holder. Bank Account Details / changes in bank details i.e. name of bank, branch, account type, account number etc. in respect of first holder should be indicated in the application. These will be printed on the warrant. IF THE FIRST HOLDER IS A MINOR, THE MINOR'S BANK ACCOUNT DETAILS SHOULD BE FURNISHED. NRI bondholders are requested to furnish their NRO A/c No. along with the complete postal address of the Bank branch having that account.

5.

 Change of address, if any, should be advised correctly in the Redemption Application Form.

6.

 In case of minor, the discharge to be given by guardian who had signed in the original application form.
7. In case of change of marital status, attaining age of majority, same should be indicated together with necessary proof and specimen signature duly attested by a Judicial Magistrate or Notary Public or SEM or Gazetted Officer or Public Sector Bank Officer or Officer of SIDBI under his seal, stamp and signature.
8. In case of change of guardian, particulars to be furnished to Registrar with adequate proof alongwith specimen signature of present guardian attested in the manner stated in item No.8.
9. In his/her own interest , the bond holder may get his/her signature attested by the officer of a bank where he/she is having an account.
10. In case bondholder is a donee under a gift, the bond is required to be discharged by the donee whose signature shall be attested in the manner stated in item No. 8.
11. In case the donee is a minor, proof of guardianship and guardian's specimen signature duly attested (as stated in item No.8) should be submitted along with the bond certificate duly discharged by the guardian of the donee.
12. In case of death of bondholder, the nominee or the executors or administrators of a deceased sole holder of a bond [whether a Hindu, Mohammedan, Parsi or otherwise] or the holder of a succession certificate issued under Part X of the Indian Succession Act, 1925 [39 of 1925] in respect of the bond shall be the only person [s] who may be recognised by SIDBI as having any title to the bond. Notwithstanding anything contained in Section 45 of the Indian Contract Act, 1872 [9 of 1872], in case of a bond issued, sold or held payable to two or more holders, the survivor[s] and on the death of the last survivor, his nominee or executors, administrators, or any person who is the holder of a succession certificate in respect of such bond shall be the only person who may be recognised to have a title to the bond.
13. Redemption amount paid to all bondholders will be after necessary tax adjustments / payments / deductions as applicable under the Income - Tax Act, 1961. As regards the tax treatment, the Central Board of Direct Taxes by its letters dated March 12, 1996 and March 26, 1998 clarified as follows :
"It is clarified that the difference between the issue price and the redemption price of Deep Discount Bonds will be treated as interest income, assessable under Income - tax Act, 1961. On transfer of bonds before maturity, the difference between the sale consideration and the issue price will be treated as capital gain / loss if the assessee purchased them by way of investment. However, in case of an assessee who deals in purchase and sale of bonds, securities etc., the profit or loss shall be treated as trading profit or loss".
"The difference between the issue price and redemption price will be treated as interest income on which tax is deductible u/s 193."
14. Bondholders may note to forward their Redemption Application Form alongwith duly discharged original bond certificates by registered post or hand delivery to the Registrar viz. Investor Services of India Ltd., IDBI Building, 2nd floor, "A" wing, Plot Nos.39, 40 and 41, Sector 11, Post Bag No. 17, CBD Belapur, Navi Mumbai-400 614 (Maharashtra) (Telephone no. 022- 27579646/47, Fax no.- 27579650) or at any of the offices of SIDBI as per addresses given on the reverse of the Redemption Application Form, on or before December 20, 2001 between 10 a.m. to 3 p.m. from Monday to Friday excluding holidays.
15. All the customer queries may be sent to Investor Services of India Ltd. or e-mailed at ddb@sidbi.in. All related correspondence should be superscribed ' SIDBI DEEP DISCOUNT BOND REDEMPTION - SERIES I