ECS refund centres expansion requires registrars and issuers to use electronic refunds in public and rights issues immediately. The circular requires registrars and issuers to implement refunds in public and rights issues through Electronic Clearing Service (ECS) at an expanded list of designated centres set out in the annexure, supplementing other permitted electronic modes. Issued after consultation with the banking regulator, the instruction takes immediate effect and registrars must comply with the operational procedures and other requirements contained in the earlier circular governing electronic refunds.
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Provisions expressly mentioned in the judgment/order text.
ECS refund centres expansion requires registrars and issuers to use electronic refunds in public and rights issues immediately.
The circular requires registrars and issuers to implement refunds in public and rights issues through Electronic Clearing Service (ECS) at an expanded list of designated centres set out in the annexure, supplementing other permitted electronic modes. Issued after consultation with the banking regulator, the instruction takes immediate effect and registrars must comply with the operational procedures and other requirements contained in the earlier circular governing electronic refunds.
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