Refund modes in public issues: electronic transfers permitted, with ECS mandated in specified centres and timing obligations for file transfer. SEBI amended the DIP Guidelines to allow refunds by ECS, Direct Credit, RTGS and NEFT; applicants in specified RBI clearing house centres will receive refunds by ECS unless eligible for Direct Credit or RTGS. Registered bankers must coordinate with registrars to ensure electronic refund files are transmitted to the clearing system within the time prescribed in Clause 6.13.2.26 of the 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.
Refund modes in public issues: electronic transfers permitted, with ECS mandated in specified centres and timing obligations for file transfer.
SEBI amended the DIP Guidelines to allow refunds by ECS, Direct Credit, RTGS and NEFT; applicants in specified RBI clearing house centres will receive refunds by ECS unless eligible for Direct Credit or RTGS. Registered bankers must coordinate with registrars to ensure electronic refund files are transmitted to the clearing system within the time prescribed in Clause 6.13.2.26 of the Guidelines.
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