Applications Supported by Blocked Amount (ASBA) secures subscription funds in bank accounts until allotment, with defined SCSB and registrar procedures. ASBA requires application money to be blocked in the investor's bank account until allotment finalisation or valid withdrawal/rejection. SCSBs must block funds on receipt of physical or electronic ASBAs, upload application data to the stock exchanges' electronic bidding systems, provide acknowledgements, and unblock or transfer funds only on reconciled instructions from the Registrar after allotment or on withdrawal/failure. Registrars reconcile exchange and SCSB data, validate DP ID/Client ID/PAN, finalise allotment, and instruct SCSBs to effect unblocking/transfers within specified timelines. Intermediary roles, liability for omissions, record keeping and certification requirements for SCSBs are prescribed.
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.
Applications Supported by Blocked Amount (ASBA) secures subscription funds in bank accounts until allotment, with defined SCSB and registrar procedures.
ASBA requires application money to be blocked in the investor's bank account until allotment finalisation or valid withdrawal/rejection. SCSBs must block funds on receipt of physical or electronic ASBAs, upload application data to the stock exchanges' electronic bidding systems, provide acknowledgements, and unblock or transfer funds only on reconciled instructions from the Registrar after allotment or on withdrawal/failure. Registrars reconcile exchange and SCSB data, validate DP ID/Client ID/PAN, finalise allotment, and instruct SCSBs to effect unblocking/transfers within specified timelines. Intermediary roles, liability for omissions, record keeping and certification requirements for SCSBs are prescribed.
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