Guidelines for notification of zero coupon bond

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....t an application made in Form No. 5B shall be disposed of within a period of six months from the date of receipt of such application.] (2) Every application, under sub-rule (1), shall be accompanied by the following documents, namely: ^3[(i) where the application is made by any infrastructure capital company or infrastructure debt fund or a public sector company, being a Government company defined under clause (45) of section 2 of the Companies Act, 2013 (18 of 2013), a copy of certificate of incorporation under the Companies Act, 2013 (18 of 2013)."] (ii) where the application is made by any infrastructure capital fund, a copy of the trust deed registered under the provisions of the Registration Act, 1908 (16 of 1908);....

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....end of the financial year immediately following the financial year in which the bond is issued; (ii) the balance of such realisation within a period of four financial years immediately following the financial year in which the bond is issued; (v) where the application is made by a public sector company, such company shall furnish along with the application an undertaking that the money realised on issue of the zero coupon bond shall be invested or utilised by it in the following manner, namely: (i) fifteen per cent or more of such realisation before the end of the financial year immediately following the financial year in which the bond is issued; (ii) the balance of such realisation within a period of si....

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....e capital fund or infrastructure debt fund or public sector company shall submit within two months from the end of each financial year referred to in sub-clause (i) or sub-clause (ii) of clause (iv) of sub-rule (3), or, as the case may be, in sub-clause (i) or sub-clause (ii) of clause (v) of sub-rule (3), a certificate from an accountant as defined in the Explanation to sub-section (2) of section 288, specifying the amount invested in each year in Form No. 5BA.] (7) The Central Government shall have the power to withdraw the notification if the applicant fails to fulfil any of the conditions referred to in sub-rule (3) or sub-rule (6). ^9[(8) The application in Form No. 5B referred to in sub-rule (1) and the certificate of accountant....

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...." 2.  Substituted vide Notification No. 28/2022 dated 06-04-2022 before it was read as, "Provided that an application shall not be made for notification of a bond to be issued after two financial years following the financial year in which the application is made." 3. Substituted vide Notification No. 28/2022 dated 06-04-2022 before it was read as, "(i) where the application is made by any infrastructural capital company or a public sector company, being a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956), a copy of certificate of incorporation under the Companies Act, 1956 (1 of 1956);" 4. Substituted vide Notification No. 28/....