Security deposit requirement for public issues removed; earlier rule mandated issuer deposit with designated stock exchange before subscription. Regulation 259 was omitted. The former provision required the issuer, before opening the subscription list, to deposit with the designated stock exchange an amount calculated at a specified rate of the issue size available to the public in the manner specified by the Board and/or stock exchanges, and provided that the deposit would be refundable or forfeitable as specified by the Board.
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 for public issues removed; earlier rule mandated issuer deposit with designated stock exchange before subscription.
Regulation 259 was omitted. The former provision required the issuer, before opening the subscription list, to deposit with the designated stock exchange an amount calculated at a specified rate of the issue size available to the public in the manner specified by the Board and/or stock exchanges, and provided that the deposit would be refundable or forfeitable as specified by the Board.
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