Online applications for public issue of debt securities require demat-based validation, escrow routing and registrar-led reconciliation of allotment. Issuers must offer online stock-exchange subscriptions with integrated payment gateways or alternative ASBA and collecting-bank routes; online applications are limited to dematerialised investors, require DP/BO and PAN validation for KYC, generate unique acknowledgements, route all collections to a single escrow account, and enable cancellation prior to allotment. Registrars reconcile exchange application data with payments, treat unpaid applications as invalid, allot on date-time priority, credit demat accounts or dispatch physical certificates subject to KYC, and process refunds to applicants' bank accounts.
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.
Online applications for public issue of debt securities require demat-based validation, escrow routing and registrar-led reconciliation of allotment.
Issuers must offer online stock-exchange subscriptions with integrated payment gateways or alternative ASBA and collecting-bank routes; online applications are limited to dematerialised investors, require DP/BO and PAN validation for KYC, generate unique acknowledgements, route all collections to a single escrow account, and enable cancellation prior to allotment. Registrars reconcile exchange application data with payments, treat unpaid applications as invalid, allot on date-time priority, credit demat accounts or dispatch physical certificates subject to KYC, and process refunds to applicants' bank accounts.
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