Stockinvest payment instrument streamlines share application payments and reduces refund delays and clearing-system burden. Stockinvest is a bank issued, lien backed payment instrument for share, debenture and bond applications: banks issue signed, dated stockinvest forms against deposits and mark liens; investors submit them with application forms; companies consider such applications when allotting, encash stockinvests for successful or partially successful applicants and return uncashed instruments to unsuccessful applicants; instruments are payable at par across bank branches, valid six months, bear MICR features, and aim to reduce refund delays and clearing burdens while conforming with sections 69 and 73 of the Companies Act.
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Stockinvest payment instrument streamlines share application payments and reduces refund delays and clearing-system burden.
Stockinvest is a bank issued, lien backed payment instrument for share, debenture and bond applications: banks issue signed, dated stockinvest forms against deposits and mark liens; investors submit them with application forms; companies consider such applications when allotting, encash stockinvests for successful or partially successful applicants and return uncashed instruments to unsuccessful applicants; instruments are payable at par across bank branches, valid six months, bear MICR features, and aim to reduce refund delays and clearing burdens while conforming with sections 69 and 73 of the Companies Act.
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