No Objection Certificate for release of issue deposit requires resolution of investor complaints and full post issue compliance. SEBI requires issuers to apply for a No Objection Certificate to release the deposit held with the designated stock exchange after four months from the last listing permission, filing the prescribed application through the post-issue lead merchant banker with the SEBI regional office having jurisdiction. Applications must evidence that bank guarantees have at least two months' residual validity, investor complaints received by SEBI are resolved and monthly Action Taken Reports per Annexure C are submitted, and that all fees and commissions to intermediaries including ASBA banks have been paid, with supporting certificates and bank/DP statements for refund and securities escrow accounts.
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Provisions expressly mentioned in the judgment/order text.
No Objection Certificate for release of issue deposit requires resolution of investor complaints and full post issue compliance.
SEBI requires issuers to apply for a No Objection Certificate to release the deposit held with the designated stock exchange after four months from the last listing permission, filing the prescribed application through the post-issue lead merchant banker with the SEBI regional office having jurisdiction. Applications must evidence that bank guarantees have at least two months' residual validity, investor complaints received by SEBI are resolved and monthly Action Taken Reports per Annexure C are submitted, and that all fees and commissions to intermediaries including ASBA banks have been paid, with supporting certificates and bank/DP statements for refund and securities escrow accounts.
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