Extending number of centres where refund shall be made through ECS in public rights issues
Summary
This circular extends the facility for making refunds through Electronic Clearing Service (ECS) in public and rights issues to 68 centers. The expansion is implemented in consultation with the Reserve Bank of India and includes centers managed by various banks beyond those previously covered. Registered bankers are advised to comply with this directive immediately while adhering to instructions from the earlier January 20, 2006 circular.
Text
This circular is being issued in exercise of the powers conferred under sub-section (1) of Section 11 of the Securities and Exchange Board of India Act, 1992.
In consultation with RBI, it has now been decided to extend the facility of refund through ECS in public/rights issues to 68 centers.
You are advised to comply with all other instructions contained in the earlier circular dated January 20, 2006.
This circular shall come in to force with immediate effect. This circular is available on SEBI website at www. sebi.gov.in under the category “Legal framework”.
Source: SecMarx — Extending number of centres where refund shall be made through ECS in public rights issues. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.