Listing eligibility requirements restrict public offers unless issuers meet SEBI criteria and mandate refund with interest if listing fails. Section 17A requires that securities of the kind specified in sub clause (ie) of clause (h) of section 2 cannot be offered to the public or listed unless the issuer meets SEBI specified eligibility criteria and other regulatory requirements, and must apply to recognised stock exchanges for listing permission before issuing the offer document. If listing permission remains undecided, the issuer must promptly repay monies received; failure to repay within the statutory eight day period (with holiday adjustments) makes the issuer and defaulting directors or trustees jointly and severally liable to repay with interest. Listing provisions of the Act apply mutatis mutandis to special purpose distinct entities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Listing eligibility requirements restrict public offers unless issuers meet SEBI criteria and mandate refund with interest if listing fails.
Section 17A requires that securities of the kind specified in sub clause (ie) of clause (h) of section 2 cannot be offered to the public or listed unless the issuer meets SEBI specified eligibility criteria and other regulatory requirements, and must apply to recognised stock exchanges for listing permission before issuing the offer document. If listing permission remains undecided, the issuer must promptly repay monies received; failure to repay within the statutory eight day period (with holiday adjustments) makes the issuer and defaulting directors or trustees jointly and severally liable to repay with interest. Listing provisions of the Act apply mutatis mutandis to special purpose distinct entities.
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