ASBA Process
This query is : Resolved
23 October 2009
what is ASBA Process of shares? i know little abt it but unable to understand properly
23 October 2009
SEBI vide its circular no. SEBI/CFD/DIL/DIP/31/2008/30/7 July 30, 2008 introduced a supplementary process of applying in public issues, viz., the “Applications Supported by Blocked Amount (ASBA)†process.
The ASBA process shall be available in all public issues made through the book building route.
The main features of ASBA process are as follows:
Meaning of ASBA: ASBA is an application for subscribing to an issue, containing an authorisation to block the application money in a bank account.
Self Certified Syndicate Bank (SCSB): SCSB is a bank which offers the facility of applying through the ASBA process.
The ASBA process shall be available in all public issues made through the book building route.
The main features of ASBA process are as follows:
Meaning of ASBA: ASBA is an application for subscribing to an issue, containing an authorisation to block the application money in a bank account.
Self Certified Syndicate Bank (SCSB): SCSB is a bank which offers the facility of applying through the ASBA process.
24 October 2009
I would like to supplement a little.
When application is made for shares in a public issue/right issue, the application money is retained in the bank account of the applicant till disposal of the application. The amount is blocked in the applicant's bank account during the relevant period.
On allotment, the proportionate amount gets transfered to the issuer from the blocked account and balance amount, if any, are released.
When application is made for shares in a public issue/right issue, the application money is retained in the bank account of the applicant till disposal of the application. The amount is blocked in the applicant's bank account during the relevant period.
On allotment, the proportionate amount gets transfered to the issuer from the blocked account and balance amount, if any, are released.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
