Reedemable Navashakthi Souhardha Debentures
NavaShakthi Souhardha Credit Co-Operative Limited Management has approved the issue of 12.25% Redeemable Navashakthi Souharda Debentures (RNSD) with a face value of Rs.10,000 each. Each debenture will attract an Interest rate of 12.25% per annum payable half-yearly to investors.
During the period of redemption, the Interest will be paid pro-rata. Upon redemption, the face value of each debenture will stand reduced to the extent of the amount redeemed. The proceeds of the debentures issued will be utilized for Long Term business expansion.
Terms and Conditions
- Each debenture will be issued with a face value of Rs. 10,000 and multiples of Rs. 10,000.
- There is no upper limit value of an investment.
- Interest will be paid half-yearly.
- Interest warrants will be issued in advance by way of post-dated cheques.
- The debentures are not transferable/not negotiable.
- There is no provision for pre-closure.
- In case of loss of debenture Bonds, the duplicate will be issued at the Investor's cost.
- The debentures are not traded in the open market.
- A nomination facility is allowed.
- Investors have to pay the value of subscribed debentures in one lump sum amount.
- Each debenture will be issued a certificate for the value invested.