Unblocking and refund timelines for application money reduced, accelerating ASBA account unblocking and refund processing for investors. SEBI shortens refund and unblocking timelines for application monies in public issues by substituting a reduced four-day period into the specified SEBI (ICDR) Regulations for cases of non-receipt of minimum subscription and for failure to obtain listing or trading permission, reflecting ASBA and UPI operational arrangements and intermediary responsibilities for investor compensation.
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Provisions expressly mentioned in the judgment/order text.
Unblocking and refund timelines for application money reduced, accelerating ASBA account unblocking and refund processing for investors.
SEBI shortens refund and unblocking timelines for application monies in public issues by substituting a reduced four-day period into the specified SEBI (ICDR) Regulations for cases of non-receipt of minimum subscription and for failure to obtain listing or trading permission, reflecting ASBA and UPI operational arrangements and intermediary responsibilities for investor compensation.
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