Securities And Exchange Board Of India - Subsection
Section 14A(3) in Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015
(3)The Board may issue observations, if any, on the preliminary placement memorandum within fifteen days from the later of the following dates:(a)the date of receipt of the preliminary placement memorandum under subregulation (1); or(b)the date of receipt of satisfactory reply from the issuer and/or merchant banker to the issue, where the Board has sought any clarification or additional information from them; or(c)the date of receipt of clarification or information from any regulator or agency, where the Board has sought any clarification or information from such regulator or agency; or(d)the date of receipt of a copy of in-principle approval letter issued by the stock exchange(s).
