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of <h1>Steel Authority of India Limited issues 7-year, 14.5% debentures under Section 80L of Income-tax Act.</h1> The Central Government has specified the issuance of 7-year, 14.5% secured, redeemable, non-convertible, and taxable debentures by the Steel Authority of India Limited, New Delhi, under section 80L of the Income-tax Act, 1961. These debentures, in the form of bonds, are part of the VIIth Issue--I Series, each valued at Rs. 1,00,000, with a total issuance amounting to Rs. 497 crores. They bear distinctive numbers from L-1 to L-49700 and offer an interest rate of 14.5% per annum, payable semi-annually. This specification is formalized under Notification No. S. O. 510(E) dated 28-6-1999.
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