ASBA facility in rights issues: shareholders may apply via blocked bank funds pending registrar validation and allotment. Extension of ASBA to rights issues allows eligible shareholders on the record date who hold dematerialised shares, have not renounced entitlements, and apply through SCSB-linked bank accounts to select ASBA on the application form; the SCSB blocks the specified application money and transmits application data to the Registrar, who validates applications, finalises the basis of allotment, and instructs release of funds to the issuer only after confirming prescribed minimum subscription under applicable guidelines.
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 in rights issues: shareholders may apply via blocked bank funds pending registrar validation and allotment.
Extension of ASBA to rights issues allows eligible shareholders on the record date who hold dematerialised shares, have not renounced entitlements, and apply through SCSB-linked bank accounts to select ASBA on the application form; the SCSB blocks the specified application money and transmits application data to the Registrar, who validates applications, finalises the basis of allotment, and instructs release of funds to the issuer only after confirming prescribed minimum subscription under applicable guidelines.
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