Zero coupon bond notification requires prescribed filings, investment grade rating, listing arrangements, and staged deployment of proceeds. Notification of zero coupon bonds is available to specified infrastructure entities and public sector companies through Form No. 2, subject to filing timelines, supporting documents, and Central Government scrutiny. The Government must be satisfied about the bond's life, investment grade rating, stock exchange listing arrangements, phased investment of proceeds, and, for infrastructure debt funds, maintenance of a sinking fund for interest invested in Government security. Non-fulfilment may lead to rejection or withdrawal of notification, and annual accountant certification is required.