CIRCULAR, CIR/CFD/DIL/1/2013, dated January 2,
2013
To
All Registered
Bankers to an Issue
All Registered
Merchant Bankers
1.
This has reference to SEBI Circular No. CIR/CFD/DIL/12/2012 dated September 13,
2012, on the captioned subject. It has been reported that some Banks/Merchant Bankers
are misinterpreting the aforesaid circular and the applications by banks have been
made / accepted using an account held with the applicant bank itself.
2.
In terms of Para 4 of the aforementioned circular dated September 13, 2012, it
is clarified that for making applications by banks on own account using ASBA
facility, SCSBs should have a separate account in own name with any other
SEBI registered SCSB/s. Such account shall be used solely for the purpose
of making application in public issues and clear demarcated funds should be
available in such account for ASBA applications.
3.
All other provisions of the aforesaid circulars remain unchanged.
4.
This circular shall be applicable with immediate effect.
5.
This circular is issued in exercise of the powers conferred under Section 11
read with Section 11A of the Securities and Exchange Board of India Act, 1992.
6.
This circular is available on SEBI website at www.sebi.gov.in
under the categories “Legal Framework” and “Issues and Listing”.
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