Application by ASBA investors: Details of Application Supported by Blocked Amount process including specific instructions for submitting Application Supported by Blocked Amount.

A statement that the shareholders who have not received the application form can apply, along with the requisite application money, by making an application on a plain paper.

The format to enable shareholders to make an application on a plain paper specifying therein necessary particulars such as name, address, ratio of rights issue, issue price, number of equity shares held, ledger folio numbers, depository participant ID, client ID, number of equity shares entitled and applied for, additional shares if any, amount to be [blocked with SCSB for using ASBA facility] [Substituted 'paid along with application, and particulars of cheque, etc. to be drawn in favour of the issuer's account' by Notification No. SEBI/LAD-NRO/GN/2019/47, dated 26.12.2019 (w.e.f. 11.9.2018).];

A statement that shareholders making an application on a plain paper cannot renounce their rights [***] [Substituted 'and shall not utilise the application form for any purpose including renunciation even if it is received subsequently' by Notification No. SEBI/LAD-NRO/GN/2019/47, dated 26.12.2019 (w.e.f. 11.9.2018).].

(3)

Dealing with Fractional Entitlement: Manner of dealing with fractional entitlement viz. payment of the equivalent of the value, if any, of the fractional rights in cash etc.

(4)

Provisions of the Companies Act, 2013, as relating to punishment for fictitious applications, including the disclosures that any person who:

(a) makes or abets making of an application in a fictitious name to a company for acquiring, or subscribing for, its securities; or

(b) makes or abets making of multiple applications to a company in different names or in different combinations of his/her name or surname for acquiring or subscribing for its securities; or

(c) otherwise induces directly or indirectly a company to allot, or register any transfer of, securities to such person, or to any other person in a fictitious name.

(5)

A statement that credit of specified securities to the demat account [/ un-blocking of ASBA/ refunds] [Substituted '/ refunds' by Notification No. SEBI/LAD-NRO/GN/2019/47, dated 26.12.2019 (w.e.f. 11.9.2018).] shall be done within a period of fifteen days and interest shall be payable in case of delay in [/ un-blocking of ASBA/ refunds] [Substituted '/ refund' by Notification No. SEBI/LAD-NRO/GN/2019/47, dated 26.12.2019 (w.e.f. 11.9.2018).] at the prescribed rate. Liability of issuer and its directors (who are officers in default) to make refunds along with specified rate of interest shall also be mentioned, in case refunds not made within the specified timeline.

(6)

Mode of making refunds:

(a) The mode in which the issuer shall make refunds to applicants in case of an oversubscription or failure to list or otherwise.

(b) If the issuer proposes to use more than one mode of making refunds to applicants, the respective cases where each such mode will be adopted shall be disclosed.

(c) The permissible modes of making refunds are as follows:

(a) complaints received in respect of the issue shall be attended to by the issuer expeditiously and satisfactorily.

(b) steps for completion of the necessary formalities for listing and commencement of trading at all stock exchanges where the specified securities are to be listed are taken within the time limit specified by the Board. of finalisation of basis of allotment.

(c) funds required for making refunds to unsuccessful applicants as per the mode(s) disclosed shall be made available to the Registrar to the issue by the issuer.

(d) where refunds are made through electronic transfer of funds, a suitable communication shall be sent to the applicant within 15 days of closure of the issue giving details of the bank where refunds shall be credited along with amount and expected date of electronic credit of refund.

(e) Where release of block on the application amount for unsuccessful bidders or part of the application amount in case of proportionate allotment, a suitable communication shall be sent to the applicants.

(f) adequate arrangements shall be made to collect all ASBA applications [***] [Omitted 'and to consider them similar to non-ASBA applications while finalizing the basis of allotment' by Notification No. SEBI/LAD-NRO/GN/2019/47, dated 26.12.2019 (w.e.f. 11.9.2018).].

(g) In case of convertible debt instruments, the issuer shall additionally undertake that:

(1)

it shall forward the details of utilisation of the funds raised through the convertible debt instruments, duly certified by the statutory auditors of the issuer, to the debenture trustee at the end of each half-year.

(2)

it shall disclose the name and address of the debenture trustee in the annual report.

(3)

it shall provide a compliance certificate to the convertible debt instrument holders on a yearly basis in respect of compliance with the terms and conditions of issue of debentures as contained in the Letter of Offer, duly certified by the debenture trustee.

(4)

it shall furnish a confirmation certificate that the security created by the issuer in favour of the convertible debt instrument holders is properly maintained and is adequate to meet the payment obligations towards the convertible debt instrument holders in the event of a default.

(5)

it shall extend necessary cooperation to the credit rating agency(ies) in providing the requisite information in a true and adequate manner till the debt obligations in respect of the instrument are outstanding.

(XX) Utilisation of Issue Proceeds. - The letter of offer, other than for an issue made by a scheduled commercial bank or a public financial institution, shall contain a statement of the board of directors of the issuer to the effect that:

(A) all monies received out of issue of shares or specified securities to the public shall be transferred to a separate bank account.

(B) details of all monies utilised out of the issue referred to in clause (A) shall be disclosed under an appropriate separate head in the balance sheet of the issuer indicating the purpose for which such monies had been utilised; and

(C) details of all unutilised monies out of the issue of specified securities referred to in clause (A) shall be disclosed under an appropriate separate head in the balance sheet of the issuer indicating the form in which such unutilised monies have been invested.

(XXI) Restrictions on foreign ownership of Indian securities, if any. - (A) Investment by NRIs.

(B) Investment by foreign portfolio investors and foreign venture capital investors.

(C) investment by other non-residents.

(B) "If there is a delay in the refund of subscription money by more than 8 days after the issuer becomes liable to pay the subscription amount, the issuer shall pay interest for the delayed period, at rates prescribed under the Companies Act, 2013."

(1)

The details of option, if any for a rights issue (applicable for a period of six months from the date of coming into force of these regulations), to receive the specified securities either in demateralised form or in physical form.

(2)

A statement that the investors shall have an option either to receive the security certificate(s) or to hold the securities in dematerialised form with a depository.

(B) Material contracts and time and place of inspection which shall include copies of the Annual Reports of the issuer for the last five years.

(6)

An issuer shall make a copy of the offer document of the immediately preceding public issue or rights issue available to the public in the manner specified in these regulations and shall also make such document available as a material document for inspection.