ASBA facility: Syndicate-mediated blocked-funds applications mandated for non-retail issuances, with SCSB branch designation required. Regulator authorises ASBA through syndicate and sub-syndicate members who may upload bids and forward physical ASBA forms to SCSBs for signature verification, blocking of funds and transmission to the registrar. SCSBs must name at least one branch in each bidding centre to receive Syndicate ASBA forms and submit branch details for publication. Non-retail applicants are required to use ASBA for public and rights issues, with merchant bankers ensuring offer document payment disclosures. An indicative timeline governs upload, validation, blocking, reconciliation, allotment and funds transfer.
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.
ASBA facility: Syndicate-mediated blocked-funds applications mandated for non-retail issuances, with SCSB branch designation required.
Regulator authorises ASBA through syndicate and sub-syndicate members who may upload bids and forward physical ASBA forms to SCSBs for signature verification, blocking of funds and transmission to the registrar. SCSBs must name at least one branch in each bidding centre to receive Syndicate ASBA forms and submit branch details for publication. Non-retail applicants are required to use ASBA for public and rights issues, with merchant bankers ensuring offer document payment disclosures. An indicative timeline governs upload, validation, blocking, reconciliation, allotment and funds transfer.
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