Allotment obligations require timely allotment, refunds, demat credit and interest liability for defaults in securitised debt offers. Issuers must allot securitised debt instruments and credit demat accounts within the specified short periods after offer closure, may not retain over subscription proceeds, and must dispatch refund orders within the prescribed timeframe. Over subscription allotment follows a basis finalised with the recognised stock exchanges. Where allotment, certificate dispatch or refunds are delayed, the issuer, trustees and defaulting directors are jointly and severally liable to repay applicants with prescribed interest from the expiry of the applicable period, without prejudice to other laws.