Zero coupon bond designation limits issuance terms and mandates proceeds for revenue servicing infrastructure projects only. The Central Government designates a Ten Year Zero Coupon Bond of HUDCO as a zero coupon bond for tax purposes, specifying tenor (ten years one month), issuance deadline, aggregate maturity payment, discount, and number of bonds. HUDCO must utilise proceeds only for infrastructure projects capable of servicing the debt from project revenues without dependence on State Governments; 'Infrastructure' is defined by reference to the Updated Harmonised Master List of Infrastructure sub-sectors.
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 designation limits issuance terms and mandates proceeds for revenue servicing infrastructure projects only.
The Central Government designates a Ten Year Zero Coupon Bond of HUDCO as a zero coupon bond for tax purposes, specifying tenor (ten years one month), issuance deadline, aggregate maturity payment, discount, and number of bonds. HUDCO must utilise proceeds only for infrastructure projects capable of servicing the debt from project revenues without dependence on State Governments; 'Infrastructure' is defined by reference to the Updated Harmonised Master List of Infrastructure sub-sectors.
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