NHAI discontinued issuance of Section 54EC Capital Gain Bond

The National Highways Authority of India (NHAI) has decided to discontinue Sec 54EC capital gain bond issue of 2022-23.

If the funds are credited on or after September 3, 2022, the banks have been instructed to repay the application fees.

In a issued Notification NHAI has provided, “It has been decided to close the 54 EC capital gain bond issue 2022-23 of NHAI with immediate effect. Accordingly, please ensure that no fresh application/money is accepted for these bonds on or after 3rd September 2022. Bank are requested to freeze the credit In the bank accounts opened for NHAI 54 EC bonds collection from 03rd Sept 2022.”

“The application money if credited on 03rd Sept 2022 onwards shall be refunded by NHAI and claim, if any, made by the investor towards capital gain exemption, shall be the responsibility of the concerned bank/arrangers.”

This may have happened as a result of the central government’s directive to NHAI to limit borrowing over the next three years in order to keep its debt from rising to unsustainable levels. By the end of January 2022, the highway authority owed a staggering Rs.3.44 trillion, an increase since 2014–15.

For Official Notification Download PDF Given Below: