TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>SEBI Reduces Refund Timeline to 4 Days for Public Issues; Intermediaries Liable for Delays in Unblocking Funds.</h1> The Securities and Exchange Board of India (SEBI) has revised the timelines for refunding application money in public issues. Previously, issuers had to refund application money within fifteen days if minimum subscription was not received and within seven days if listing permission was denied. These periods have now been reduced to four days. This change reflects the adoption of the ASBA system, where funds are blocked rather than transferred, and the introduction of the UPI mechanism. Intermediaries are liable for delays in unblocking funds beyond four working days. This amendment aims to protect investor interests and enhance market efficiency.
TaxTMI 
TaxTMI 
