https://www.taxtmi.com/circulars?id=11042 Stockinvest is a bank issued, lien backed payment instrument for share, debenture and bond applications: banks issue signed, dated stockinvest forms against deposits and mark liens; investors submit them with application forms; companies consider such applications when allotting, encash stockinvests for successful or partially successful applicants and return uncashed instruments to unsuccessful applicants; instruments are payable at par across bank branches, valid six months, bear MICR features, and aim to reduce refund delays and clearing burdens while conforming with sections 69 and 73 of the Companies Act. en-us Thu, 09 Jan 1992 00:00:00 +0530 Mon, 20 Jun 2011 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11042 Stockinvest is a bank issued, lien backed payment instrument for share, debenture and bond applications: banks issue signed, dated stockinvest forms against deposits and mark liens; investors submit them with application forms; companies consider such applications when allotting, encash stockinvests for successful or partially successful applicants and return uncashed instruments to unsuccessful applicants; instruments are payable at par across bank branches, valid six months, bear MICR features, and aim to reduce refund delays and clearing burdens while conforming with sections 69 and 73 of the Companies Act. Circulars Companies Law Thu, 09 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11042