Section 88 in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
88. Payment options.
- The issuer shall give one of the following payment options to all the shareholders for each type of instrument:(a)part payment on application with balance money to be paid in calls; or(b)full payment on application:Provided that the part payment, if any, on application shall not be less than twenty five per cent. of the issue price and such issuer shall obtain the necessary regulatory approvals to facilitate the same.[Provided further that payment of balance money in calls, outside the issue period, may be through electronic banking modes.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2019/47, dated 26.12.2019 (w.e.f. 11.9.2018).]
