Zero coupon bond issuance requires an accountant's certificate detailing investments and a sinking fund for accrued interest. Form No.5BA requires an accountant's certificate under sub-rule (6) of rule 8B certifying investments made from proceeds of zero coupon bonds by specified issuers, with issuer identification, amount realised, detailed investment schedules across six financial years, and, where applicant is an infrastructure debt fund, a statement that a sinking fund for accrued interest has been maintained and invested in liquid instruments; the certificate must be signed by an authorised signatory and verified by an independent accountant and accompanied by prescribed supporting documents.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Zero coupon bond issuance requires an accountant's certificate detailing investments and a sinking fund for accrued interest.
Form No.5BA requires an accountant's certificate under sub-rule (6) of rule 8B certifying investments made from proceeds of zero coupon bonds by specified issuers, with issuer identification, amount realised, detailed investment schedules across six financial years, and, where applicant is an infrastructure debt fund, a statement that a sinking fund for accrued interest has been maintained and invested in liquid instruments; the certificate must be signed by an authorised signatory and verified by an independent accountant and accompanied by prescribed supporting documents.
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