Securities And Exchange Board Of India - Subsection
Section 16B(3) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(3)The amount stipulated in sub-regulation (1) shall be refundable or forfeitable in the manner specified by the Board."(ii)In regulation 20, sub-regulations (2) and (3) shall be omitted.(iii)In Schedule I, in para. III, in sub-para (ii), under the heading "Delay in Dispatch of Allotment Letters or Refund Orders" after the word and sign "closure." and before the words "The issuer further agrees", the following shall be inserted, namely:-"Issuer agrees that credit to demat accounts of the allottees shall be made within two working days from the date of allotment."
