Due diligence obligations require lead merchant bankers to verify offering disclosures and ensure public availability of offer documents. Lead merchant bankers must perform and retain due diligence on offering disclosures, file draft offer documents with required fees and MOUs, furnish staged due diligence certificates (with special formats for fast track and debenture issues), and ensure proper appointment, assessment and registration of intermediaries. They must verify underwriters, disclose underwriting arrangements, make offer documents public and hosted online, ensure prescribed collection centres and dispatch of issue materials, appoint a compliance officer, provide abridged prospectus with applications, and secure depository agreements for dematerialisation.
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Provisions expressly mentioned in the judgment/order text.
Due diligence obligations require lead merchant bankers to verify offering disclosures and ensure public availability of offer documents.
Lead merchant bankers must perform and retain due diligence on offering disclosures, file draft offer documents with required fees and MOUs, furnish staged due diligence certificates (with special formats for fast track and debenture issues), and ensure proper appointment, assessment and registration of intermediaries. They must verify underwriters, disclose underwriting arrangements, make offer documents public and hosted online, ensure prescribed collection centres and dispatch of issue materials, appoint a compliance officer, provide abridged prospectus with applications, and secure depository agreements for dematerialisation.
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