[Resolved]  Karvy — less interest received on tax free bonds of irfc

Nov 14, 2018

Karvy Customer Care's response Dear Sir/Madam,

Greetings fro KARVY!!

With reference to the above compliant, we would like to inform you that the interest amount already credited to your bank account on 15.10.2018 and details pasted below for your ready reference and interest pay from 16.10.2017 to 14.10.2018 ( No_Of_days : 364 only) and next interest payment from 15.10.2018 to 14.10.2019 will be paid on 15.10.2019.

For SL No. 1 & 2 aggregate face value amount of over ` 10 lakhs, then the coupon rate applicable to such Category

#In pursuance of CBDT Notification and for avoidance of doubts, it is clarified as under:

a. The coupon rates indicated under Tranche I Series IB and Tranche I Series IIB shall be payable only on the Portion of Bonds allotted to Category IV in the Issue. Such coupon is payable only if on the Record Date for payment of interest, the Bonds are held by investors falling under Category IV.
b. In case the Bonds allotted against Tranche I Series IB and Tranche I Series IIB are transferred by Category IV to Category I, Category II and/or Category III, the coupon rate on such Bonds shall stand at par with coupon rate applicable on Tranche I Series IA and Tranche I Series IIA respectively.
c. If the Bonds allotted against Tranche I Series IB and Tranche I Series IIB are sold/ transferred by the Category IV to investor(s) who fall under the Category IV as on the Record Date for payment of interest, then the coupon rates on such Bonds shall remain unchanged;
d. Bonds allotted against Tranche I Series IB and Tranche I Series IIB shall continue to carry the specified coupon rate if on the Record Date for payment of interest, such Bonds are held by investors falling under Category IV;
e. If on any Record Date, the original Category IV allotee(s)/ transferee(s) hold the Bonds under Tranche I Series IB and Tranche I Series IIB for an aggregate face value amount of over ` 10 lakhs, then the coupon rate applicable to such Category IV allottee(s)/transferee(s) on Bonds under Tranche I Series IB and Tranche I Series IIB shall stand at par with coupon rate applicable on Tranche I Series IA and Tranche I Series IIA respectively;
f. Bonds allotted under Tranche I Series IA and Tranche I Series IIA shall carry coupon rates indicated above till the respective maturity of Bonds irrespective of Category of holder(s) of such Bonds;
g. For the purpose of classification and verification of status of the Category IV of Bondholders, the aggregate face value of Bonds held by the Bondholders in all the Series of Bonds, allotted under the relevant Tranche Issue shall be clubbed and taken together on the basis of PAN.

The Company would allot Tranche I Series IA/IB Bonds (depending upon the category of Applicant) to all valid applications, wherein the applicants have not indicated their choice of the relevant series of Bonds in their Application Form.

3) ISI No: INE053F07900

The interest amount already credited to your bank account on 15.10.2018 and details pasted below for your ready reference and interest pay from 16.10.2017 to 14.10.2018 ( No_Of_days : 364 only) and next interest payment from 15.10.2018 to 14.10.2019 will be paid on 15.10.2019.

Any further assistance, please write back us on kcpl.[protected]@karvy.com.

Regards
Team Karvy