Securities And Exchange Board Of India - Subsection
Section 67(5) in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
(5)The post-issue merchant banker shall confirm to the bankers to the issue by way of copies of listing and trading approvals that all formalities in connection with the issue have been completed and that the banker is free to release the money to. the issuer or release the money for refund in case of failure of the issue.
