SARDAR SAROVAR NARMADA NIGAM LIMITED

(A wholly owned by Govt. of Gujarat undertaking)

Registered Office:
Block No.12, 1st Floor, New Sachivalaya Complex
Gandhinagar 382 010, Gujarat.
Tel: (079) 23252409. 23252337
Web Site : http://www.sardarsarovardam.org
To
SUB :- NOTICE TO THE DEEP DISCOUNT BONDHOLDERS
FOR REDEMPTION OF BONDS
Dear Bondholder,
Nigam had in terms of Prospectus dated 29.9.1993 issued Secured Redeemable Non Tax
Exempt Deep Discount Bonds (hereinafter referred to as DDBs).
The Government of Gujarat in public interest has passed the Sardar Sarovar Narmada Nigam
Limited (Conferment of Power to Redeem Bonds) Act, 2008 (hereinafter referred to as the
Act). The Act amends the financial covenants and conditions for DDBs by providing an
option to Nigam to redeem the DDBs earlier on such date and with such deemed face value
as Nigam may determine by payment of the amount so determined as stipulated in the Act.
The Board of Directors of Nigam at their meeting held on 3rd November 2008, in terms of
the Act, have decided to redeem the DDBs earlier and have determined the date for such
redemption as 10th January 2009 with deemed face value of Rs. 50,000/- per bond
(redemption amount). Accordingly, all outstanding DDBs shall be redeemed on 10 th January
2009.
Nigam advises the Deep Discount Bondholders to take note of the following:
1.

Pursuant to the provisions of Section 154 of the Companies Act, 1956 and the Listing
Agreement with the Stock Exchanges, the Register of Transfers of DDBs and the
Register of Deep Discount Bondholders of Nigam shall remain closed from
13.12.2008 to 10.01.2009 (both days inclusive) for the purpose of updation of the said
Registers and to determine the names of the Deep Discount Bondholders and their
holding for the purpose of payment of the redemption amount.

2.

For the attention of Deep Discount Bondholders holding DDBs in Physical Mode:
Please surrender the Bond Certificate / Letter of Allotment duly discharged with the
words discharged for redemption and by signing on the back of the Bond Certificate
/ Letter of Allotment so as to reach the Nigams Registrar and Transfer Agents,
namely, MCS Limited, at the address mentioned in this Notice, on or before 12 th
December 2008. Nigam shall make payment only on surrendering of the Bond
Certificate / Letter of Allotment as stated above. The signature of the Deep Discount
Bondholder should tally with the signature in the records with Nigam.

For the attention of Deep Discount Bondholders holding DDBs in Electronic Mode:
Nigam will make payment of redemption amount to the Deep Discount Bondholders
holding DDBs in electronic mode as per the details of beneficiaries provided by the
NSDL and CDSL (Depositories) and the redemption amount shall be credited in their
bank accounts through Electronic Clearing System (ECS). Where the ECS facility is
not available, the redemption amount shall be sent by account payee cheque at the
address provided by the Depositories.
3.

Deep Discount Bondholders holding DDBs in physical mode are requested to notify
the change(s), if any, in their address and/or bank particulars, etc. to Nigams
Registrar and Transfer Agent on or before 12th December 2008 by using the attached
Proforma. The Deep Discount Bondholders holding DDBs in electronic mode are
requested to notify such changes, if any, to their respective Depository Participants.

4.

In case of change in guardian, necessary evidence and the signature of such guardian,
both of which shall be duly attested by a Judicial Magistrate or Notary Public or
Gazetted Officer or Officer of the Public Sector Bank, under the seal, stamp and
signature, shall be furnished to Nigams Registrar and Transfer Agent, on or before
12th December 2008.

5.

In case of change in marital status or if the minor bondholder has attained the age of
majority, such Deep Discount Bondholders are requested to notify the change in
status with necessary evidence and fresh specimen of signature, both of which shall
be duly attested in the manner as provided in clause 4 above, to Nigams Registrar
and Transfer Agent, on or before 12th December 2008.

6.

In case of death of a sole Deep Discount Bondholder, the executors or administrators

or the legal heirs who has obtained probate or letters of administration or succession
certificate, as the case may be, from a competent court shall be recognized by Nigam
as having title of the DDBs for the purpose of payment of redemption amount. In case
of death of one or more of the joint holders, the survivor whose name stands first
from amongst the survivors shall be recognized by Nigam for the payment of
redemption amount. Necessary evidence in respect of the aforesaid, duly attested in
the manner as provided in clause 4 above, shall be furnished to Nigams Registrar and
Transfer Agent on or before 12th December 2008. In case of joint holders of DDBs,
the redemption amount will be paid to the Deep Discount Bondholder whose name
stands first in the Register of Bondholders.

7.

The Deep Discount Bondholders holding DDBs in physical form and who wish to
receive the redemption amount through ECS are requested to furnish their bank
particulars with the 9 digit MICR code and a blank cancelled cheque or a copy of it to
Nigams Registrar and Transfer Agent on or before 12 th December 2008 to update the
records. ECS credit will be made only to those centers which are covered through
ECS payment. Alternatively, the amount will be sent through account payee cheque
at the registered address of the Deep Discount Bondholder.

8.

No interest on the redemption amount will accrue after 10th January 2009.

9.

If any Deep Discount Bondholder surrenders the duly discharged Bond Certificate
after 12th December 2008, the same will be processed for payment only after 10th
January 2009 and no interest on such redemption amount shall be payable by Nigam.

10.

Any person who has purchased/acquired the DDBs from the existing Deep Discount
Bondholders is requested to register the transfer of the DDBs in their names
alongwith a request to surrender the Bond Certificate, for redemption amount, in the
manner as stated in this Notice to Nigams Registrar and Transfer Agent on or before
12th December 2008. It is clarified that any transfer of the DDBs by a Deep Discount
Bondholder to any person and the endorsement thereof on the reverse of the Bond
Certificate made after 10th January 2009 shall not be recognised for transfer by
Nigam.

11.

Deep Discount Bondholders are requested to furnish the Income Tax Permanent
Account Number (PAN) alongwith a photocopy of the PAN card.

12.

Tax will be deducted at source as per the provisions of the Income Tax Act, 1961 and
Nigam will pay the net amount to the Deep Discount Bondholder. Certificate for
deduction of Tax at Source will be sent to the Deep Discount Bondholders in due
course of time.
However, the Deep Discount Bondholders who seek the exemption from deduction of
tax at source are requested to furnish the following documents, as the case may be, to
Nigams Registrar and Transfer Agent;
a.

A declaration in Form No. 15G in duplicate by those Deep Discount

Bondholders who are individuals. However, if the income of the Deep
Discount Bondholder exceeds the maximum amount which is not chargeable
to tax then the person is required to furnish a certificate for no/ lower
deduction of tax from his assessing officer,

b.

A declaration in Form 15H in duplicate by those Deep Discount Bondholders

who are of the age above 65 years,

c.

A certificate from the Assessing Officer by those Deep Discount Bondholders

who have shown every year in their total income, the amount of interest
accrued on the DDBs held by them for deduction of tax at lower rate of
income tax.

The Deep Discount Bondholders are requested to contact Nigams Registrar and Transfer
Agents for any query, information or clarifications. The contact details of the Registrar and
Transfer Agent are as under:
MCS Limited,
101, Shatdal Complex,
Opp. Bata Show Room,
Ashram Road,
Ahmedabad 380 009.
Telephone Nos. : 079 265 82878 80 (3 lines)
Fax No. : 079 26581296
Email : mcsamd@reliancemail.net
FOR SARDAR SAROVAR NARMADA NIGAM LIMITED
Date : 03-11-2008
Place : Gandhinagar

(A.K. Joti)
Managing Director

PLEASE SEND THE DOCUMENTD AS BELOW.

1. ORIGINAL BOND CERTIFICATE / LETTER OF ALLOTMENT DULY
DISCHARGED BY ALL BOND HOLDERS ON THE BACK SIDE OF THE
CERTIFICATE.
2. FORM NO.15 G / 15 H WHICH EVER IS APPLICABLE , IN DUPLICATE COPY.
3. COPY OF PAN CARD AND BANK DETAILS OF 1ST BOND HOLDER.