Section 12A in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
12A. Allotment of securities and payment of interest. - (1) The Issuer shall ensure that that in case of listing of debt securities issued to public, allotment of securities offered to public shall be made within thirty days of the closure of the public issue.
(2)Where the debt securities are not allotted and/or application moneys are not refunded within the stipulated period in sub-regulation (1), the issuer shall undertake to pay interest at the rate of fifteen per cent. per annum.(3)Credit to demat accounts of the allottees shall be made within two working days from the date of allotment."(ii)After regulation 19 and before regulation 20, the following regulations shall be inserted, namely:-
