Security deposit requirement removed, eliminating the prior pre-subscription issuer deposit obligation and related refund/forfeiture rule. Regulation 135 requiring issuers to deposit with the designated stock exchange one per cent of the public issue size before opening the subscription list, with the deposit refundable or forfeitable as prescribed, has been omitted by notification, removing that pre-subscription deposit mechanism from the SEBI capital-issue regulations.
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.
Security deposit requirement removed, eliminating the prior pre-subscription issuer deposit obligation and related refund/forfeiture rule.
Regulation 135 requiring issuers to deposit with the designated stock exchange one per cent of the public issue size before opening the subscription list, with the deposit refundable or forfeitable as prescribed, has been omitted by notification, removing that pre-subscription deposit mechanism from the SEBI capital-issue regulations.
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