Allotment timing requirement enforces prompt allotment and refunds; default attracts statutory interest and prompt demat credit. Issuers of publicly offered debt securities must complete allotment within thirty days of issue closure; failure to allot or refund within that period attracts an obligation to pay interest at the prescribed rate. After allotment, securities must be credited to allottees' demat accounts within two working days.
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.
Allotment timing requirement enforces prompt allotment and refunds; default attracts statutory interest and prompt demat credit.
Issuers of publicly offered debt securities must complete allotment within thirty days of issue closure; failure to allot or refund within that period attracts an obligation to pay interest at the prescribed rate. After allotment, securities must be credited to allottees' demat accounts within two working days.
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