Dear,

All Friends & Relatives of the Promoters of  

"ORISCON BIOTECH INDIA PRIVATE LIMITED", New Delhi

ANNUAL   INCOME   PLAN   @ 14% PER  ANNUM  FOR  YOUR INVESTMENT IN

ORISCON BIOTECH  INDIA  PRIVATE  LIMITED

Regd. Office : Plot No: C- 80 , Ganesh Nagar , Pandav Nagar Complex ,New Delhi - 110092 ( INDIA )

 

Period	Minimum Amount	Rate of Interest	Annual Yield	Total Period Yield
2 Years	Rs. 50,000	12%	6,000	12,000
3 Years	Rs. 50,000	12.5%	6,250	18,750
2 Years	Rs. 1,00,000	13%	13,000	26,000
3 Years	Rs. 1,00,000	14%	14,000	42,000

                                                  TERMS AND CONDITIONS

1. Applications

• Deposits will be accepted only from Friends & Relatives of the Promoters of ORISCON BIOTECH INDIA PRIVATE LIMITED (i) Residents, including individuals, minors (acting through their guardians), HUFs (through Karta) and (ii) Non Resident Indians (NRIs). Applications should be made in the Company's prescribed form along with a cheque/demand draft Cheque/Demand Draft should be made in favour of " Oriscon Biotech  (I) Pvt  Ltd " and payable at par in their respective cities of lodgement. Cash will not be accepted by the Company.

2. Minimum Amount

• The minimum amount of Deposit will be Rs.50,000/-. Additional amount of deposits will be accepted only in multiple(s) of Rs.50,000/-.  Interest will be calculated on 365 days basis.

• Under all scheme interest will be paid yearly basis i.e. on 31st March each year and on the date of maturity.

3. Tax Deduction at Source

• Income tax will be deducted at source from the amount of interest payable to the depositor in accordance with the provisions of the Income Tax Act, 1961. At present, tax is deductible if the aggregate amount of interest payable to a resident during a financial year exceeds Rs.5,000/-. However, Income Tax will not be deducted if declaration in Form No.15G/15H, in duplicate, as prescribed under the Income Tax Act, 1961, Or

• The prescribed certificate u/s.197(1) issued by the Assessing Officer, if applicable, is furnished by the depositor to the Company. The declaration/certificate for the current financial year should be submitted along with the application and for each subsequent financial year during the month of April of that year. With effect from 1.4.2010, it is mandatory to furnish the Permanent Account Number (PAN) in the declaration in Form No.15G/15H. If the PAN is not furnished in the declaration, such declaration shall be invalid and tax will be deducted at source in accordance with the provisions of the Income Tax Act, 1961.

• Where the depositor qualifies as a specified entity whose income is unconditionally exempt under section 10 of Income Tax Act, 1961, & is not statutorily required to file return of income under section 139 of the Act, no tax would be deducted at source in case of such specified entities as per Central Board of Direct Taxes (CBDT) Circular No.4/2002 dated July 16, 2002, subject to proof of such exemption being submitted by the depositor to the Company.

• Company will issue Tax Deduction Certificate, in the prescribed form, specifying the amount of tax deducted on the interest paid, within the stipulated period.

4. Nomination

• If the deposit is held by more than one person, all the depositors may together nominate a person in the said manner, the nominee's right in the deposit shall vest in the event of death of all the joint holders. In case a minor is appointed as a nominee, the depositor(s) should appoint a guardian other than himself/themselves.

• The depositors are advised (optional) to provide the specimen signature of the nominee to expedite the transmission of the deposit to the nominee in the event of death of the depositor(s).

Documents Required

1) Proof of Identity (Passport Copy/ Voters ID Card/ Driving License)

2) Address Proof (Ration Card/ Telephone Bill/ /Electricity Bill/ Passport)

3) Three passport size photographs

       4) Cheque/ DD in favour of " Oriscon Biotech India Private Limited "

TIME LIMIT FOR ISSUE OF DEBENTURE CERTIFICATE

The time-limit for the issue of Debenture Certificate is 3 months from the date of allotment. If the Company is of the opinion that it might not be able to issue the Debenture Certificate within 3 months, then it is suggested that an application is made to the CLB requesting for extending the time-limit for issue of Debenture Certificate.

CREATION OF DEBENTURE REDEMPTION RESERVE:

As per Section 117C of the Companies Act, 1956, a Debenture Redemption Reserve (DRR) needs to be created. From the profits of the Company each year, adequate amounts need to credited, which should be utilised for redemption, and not for any other purpose.                    

 

Approval Level

Nature of approval

                                              

Board	For issue of Debentures under Section 292(1)(b).
Board	Creation / Declaration of  Trust
Board	Approval of Draft Trust Deed
Board	Approval of the Form of Debenture Certificate.
Board	Appointment of Debenture Trustees (Section 117B)
Letter from Trustees	Consent from the Debenture Trustees to act as Trustees.

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 POSITION IN LAW:

• Under the Companies (Acceptance of Deposit) Rules, 1975 "any amount raised by issue of debentures (including convertible debentures) secured by the mortgage of any immovable property of the company and that the market value of the immovable property secured is higher than the amount of debentures issued" is not considered to be a DEPOSIT.

• Under Section 3(1)(d) of the Act, a Private Company is prohibited from accepting Deposit from persons other than its Directors, Members and their relatives.

• Hence, the Private Company must issue Debentures only as a Secured Debenture
• 

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