INDIAN RAILWAY FINANCE CORPORATION LIMITED

months of the Issue Closing Date, in accordance with the SEBI Debt Regulations.Security coverTransaction DocumentsNature ofIndebtednessand Ranking/SeniorityConditionSubsequent toDisbursementFurther details pertaining to the Security are more particularly specified in theDebenture Trust Deed.Atleast one time of the value of the total outstanding BondsTransaction Documents means documents/agreements/undertakings, entered or tobe entered by the Company with Lead Managers and/or other intermediaries forthe purpose of this Issue including but not limited to Debenture Trust Deed,Trustee Agreement, Escrow Agreement, Registrar MoU, Consortium Agreementand Lead Managers MoU.Refer to section titled “Material Contracts and Documents for Inspection” onpage 179 of the Shelf Prospectus.The claims of the Bondholders shall rank pari-passu inter-se and shall be superiorto the claims of any unsecured creditors of the Company and subject to applicablestatutory and/or regulatory requirements, rank pari passu to the claims of creditorsof the Company secured against charge on the movable assets comprising of rollingstock such as wagons, locomotives and coaches.As provided in Debenture Trust Deed to be executed between the Company andthe Debenture Trustee.DepositoriesDebenture Trustee andits responsibilitiesRegistrarModes of payment ofapplication moneyModes of Payment ofInterest MoneyModes of Payment ofInterest Money /Settlement modeIssuance modeTrading modeIssue Opening Date January 21, 2013Issue Closing Date January 29, 2013NSDL and CDSLThe debenture trustee for the Issue is SBICAP Trustee Company Limited. The roleand responsibilities of the Debenture Trustee are mentioned in the DebentureTrustee Agreement and the Debenture Trustee.Karvy Computershare Private Limited4. At par cheques5. Demand Drafts6. ASBAFor various modes of interest payment, see “Terms of the Issue – Modes ofPayment” on page 53.6. Direct credit7. National Electronic Clearing System (NECS)8. Real Time Gross Settlement (RTGS)9. National Electronic Fund Transfer (NEFT)10. Registered/ speed postFor further details of the aforesaid modes, refer to section titled “Terms of theIssue” on page 46.In dematerialized form as well as physical form, at the option of Applicants.*In dematerialized form onlyThe Issue shall remain open for subscription from 10:00 A.M. to 5:00 P.M duringthe period indicated above, with an option for early closure (subject to the Issuebeing open for a minimum of 3 days and Category IV portion being fullysubscribed) or extension by such period, upto a period of 30 days from the date ofopening of the Issue, as may be decided by the Board of Directors or the BondCommittee. In the event of such early closure or extension of the subscriptionperiod of the Issue, our Company shall ensure that public notice of such earlyclosure or extension is published on or before the day of such early date of closureor the Issue Closing Date, as the case may be, through advertisement/s in at leastone leading national daily newspaper.Deemed Date ofAllotmentDeemed Date of Allotment shall be the date on which the Directors of theCompany or any committee thereof approves the allotment of the Bonds for eachTranche Issue or such date as may be determined by the Board of Directors or anycommittee thereof and notified to the stock exchanges. All benefits relating to the43