Status Check, Procedures, Facilities

Organization :UTI Technology Services Ltd
Facility : Procedure to apply for Maturity Payments Scheme-ARS Bond

Home Page : https://utiitsl.com/
Download here :https://www.statusin.in/uploads/1991-UTITSL_bankupdation_form.pdf

How To Apply For ARS Bond Maturity Payments Scheme?

** Bond value upto Rs. 40000/- :
** Such of the Bond Holder who are holding up to 400 Bonds of the face value of Rs.100/- each , per Investor ID , need not surrender the Bond Certificates for Maturity Payment. Such Bond holders are required to fill up the updation form which is also available on the website.

Related : UTIITSL Guidelines for Submitting PAN Application : www.statusin.in/2503.html

** Bond value above Rs. 40000/- :
** The Bond holders holding more than 400 bonds of the face value of Rs.100/-each, per Investor ID, are required to submit the Bond certificate/s duly discharged on the reverse of the certificate/s,by the holder/s furnishing their bank particulars to any of the UTI Financial Centres or at the office of UTITSL. The holders signature to be attested by the Bankers under their official seal mentioning the name, designation and signature code of the attesting official.

** In case the holders do not have the original bond certificate, please fill in the forms available on the website under the heading “procedure for obtaining duplicate bond certificate”. Alongwith the requisite documents the forms for maturity redemption also needs to be duly filled in and submitted.

Forms to be filled in and submitted for issuance of duplicate bond certificate :
** For the bond value above Rs. 40000 but upto Rs. 50000 :
** Indemnity bond to be provided on a non judicial stamp paper (Annexure X)
** For the bond value above Rs. 50000 :
** Indemnity bond to be provided on a non judicial stamp paper (Annexure XI)
** Letter of surety (Annexure VIII)

Features of ARS Bonds

** The Bonds will be called and known as ‘6.60% Tax Free ARS Bonds’.
** The Bonds offer Tax Free interest AT 6.60 % p.a. payable half yearly.
** Interest is payable half yearly on every 1st October and 1 st April .
** The interest income is fully exempt from income tax.
** Tenure of the bond is 5 years. The date of allotment will be 01-04-2004 and the date of maturity will be 01-04-2009.
** Face value of a bond is Rs.100/-. The ARS bonds will be issued in multiples of one bond.
** The Bond is transferable and tradable in the market providing liquidity.
** Bonds can be held by all categories of investors.
** The principal and the interest are irrevocably / unconditionally guaranteed by Government of India.

About Us :
UTI Infrastructure Technology And Services Limited (UTIITSL), formerly known as UTI Technology Services Limited (UTITSL), was promoted by the erstwhile UTI and incorporated as a limited company on May 19, 1993 to serve the investors of UTI schemes.

Consequent to enactment of the Unit Trust of India (Transfer of Undertaking and Repeal) Act 2002, the company is construed as a Government Company under section 2(45) of the Company’s Act 2013.

FAQ On ARS Bond Maturity Payments Scheme

Sure, here are some FAQ on the ARS Bond Maturity Payments Scheme:

What is the ARS Bond Maturity Payments Scheme?
The ARS Bond Maturity Payments Scheme is a scheme that was launched by the Specified Undertaking of UTI (SUUTI) in 2007. The scheme was designed to provide a mechanism for the payment of maturity proceeds to investors who held assured return schemes (ARS) that were prematurely closed.

What are assured return schemes (ARS)?
ARS are a type of mutual fund scheme that guarantees a fixed return to investors. ARS were popular in the early 2000s, but they were eventually discontinued due to concerns about their financial viability.

Why were ARS prematurely closed?
ARS were prematurely closed due to a number of factors, including the global financial crisis of 2008 and the subsequent decline in the Indian stock market.

What are the maturity proceeds?
The maturity proceeds are the amount of money that is paid to investors when their ARS bonds mature. The maturity proceeds consist of the principal amount of the ARS bonds, plus any interest that has accrued on the bonds.