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NATIONAL

HIGHWAYAUTHORITY OF

INDIA

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HISTORY

National Highways Authority of India was constituted on15th June, 1989 under Section 3 (1) of the NationalHighways Authority of India Act, 1988 (Act).

To survey, develop, maintain and manage the NationalHighways, to construct offices or workshops, to establishand maintain hotels, restaurants and restrooms at ornear the highways vested in or entrusted to it, to regulateand control the plying of vehicles.

To develop and provide consultancy and constructionservices and to collect fees for services or benefitsrendered in accordance with Section 16 of the NHAI Act.

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NHAI is an autonomous organization of govt. of Indiaunder the Ministry of shipping, Road Transport 7Highways.

As per NHAI Act, 1988, certain stretches of NationalHighways have been entrusted to NHAI by theGovernment for development, maintenance andmanagement. Currently, NHAI is implementing Phase-I,Phase II and Phase-III of the National Highways.

Development Project (NHDP) covering around 24,000km, which includes the golden Quadrilateral (GQ), theNorth-South & East-West corridor (NSEW) and the HighDensity Traffic stretches under BOT.

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PROCESS OF ISSUANCE

1. ALLOTMENT OF BONDS

NHAI will make allotment of Bonds once a month, i.e. on the last day of each month toapplicants whose applications have been received and monies realized and credited inNHAIs New Delhi account till that date.

The last day of each moth shall be taken as the Deemed Date of Allotment for that set ofBonds.

All benefits available to the subscribers shall be from the Deemed Date of Allotment. Thedeemed date of allotment does not mean that Bonds have been issued or will be issued.

The issue of the Bonds would be subject to the satisfaction of NHAI upon scrutiny ofapplications.

The deemed date only signify that if the Bonds are actually allotted then benefits will beeffected from this deemed date.

The allotment will be made on first come first serve basis.

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The deemed date only signify that if the Bonds are actually allotted thenbenefits will be effected from this deemed date.

The allotment will be made on first come first serve basis.

2. LETTER OF ALLOTMENT AND BOND (S) CERTIFICATE

NHAI will make allotment to the Subscribers in due course after dueverification of the Applications, the accompanying documents and onrealization of the application money.

Subject to the completion of all legal formalities, the NHAI will issuethe Bond Certificates (in case of Physical option) or Bonds shall becredited to the depository account if marked by the Applicant (in caseof Demat option) within 3 months from the Deemed Date of Allotmentof such extended period as may be decided by NHAI.

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3. LISTING

The Bonds are issued for a period of 3 yearsand shall be non-transferable. Theinstrument hence will not be listed.

4. NUMBER OF BONDS

The application must be made for a minimumof five Bonds, and in multiple of one Bond

thereafter. The application can be made for maximum

500 Bonds.