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Circulars 2000 Debenturee
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Debenture Truestee Circulars 2000 SEPTEMBER, 2000 September 5, 2000 Securities and Exchange Board of India (Debenture Trustees) (Second Amendment) Regulations, 2000
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SECURITIES AND EXCHANGE BOARD OF
INDIA
PRIMARY MARKET
DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
Tel : 2850451 - 2850456
Fax :
2045633
DT CIRCULAR NO. 1( 2000 - 2001) September 5, 2000
TO
ALL REGISTERED DEBENTURE TRUSTEES
Dear Sirs,
Sub : Securities and Exchange Board of India (Debenture Trustees) (Second Amendment) Regulations, 2000.
In exercise of the powers conferred by sub-section (1) of Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India has made the Securities and Exchange Board of India (Debenture Trustees) (Second Amendment) Regulations, 2000. The regulations shall come into force from the date of their publication in the Official Gazette that is August 08, 2000. A copy of the relevant Government Gazette is enclosed.
Please acknowledge receipt.
Yours faithfully,
P. R. RAMESH
Division Chief
Encl. - a/a
SECURITIES AND EXCHANGE BOARD OF
INDIA
PRIMARY MARKET
DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
Tel : 2850451 - 2850456
Fax :
2045633
DIP (Compendium) Series Circular No. 5 November 30, 2000
To All Registered Merchant Bankers
Dear Sirs,
Sub: Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000
Guidelines for offering securities in public issues through the Stock Exchange mechanism.
The SEBI Board had considered the proposal of offering securities in public issues through the stock exchange mechanism and after considering the advantages of the system, approved the proposal.
Accordingly, the Guidelines for offering securities in public issues on - line through the stock exchange mechanism have been framed. The Guidelines are contained in a new chapter XI A (inserted by this circular) after the existing Chapter XI of the SEBI (Disclosure and Investor Protection) Guidelines, 2000.
Chapter XI A shall be applicable in respect of fixed-price issues as well as for the fixed price portion of book-built issues. The company making public issues of securities shall now have the option to issue securities through the on-line system of the Stock Exchange or through the existing banking channel.
The Guidelines shall come into force with effect from
the date of the circular.
Yours faithfully,
O P GAHROTRA
SENIOR EXECUTIVE DIRECTOR
CHAPTER XI A
GUIDELINES ON INITIAL PUBLIC OFFERS THROUGH THE STOCK EXCHANGE ON-LINE SYSTEM (e-IPO).
11A.1 A company proposing to issue capital to public through the on-line system of the stock exchange for offer of securities shall comply with the requirements as contained in this Chapter in addition to other requirements for public issues as given in these Guidelines, wherever applicable.
11A.2. Agreement with the Stock exchange.
11A.2.1 The company shall enter into an agreement with the Stock Exchange(s) which have the requisite system of on-line offer of securities.
Provided that, where the Regional Stock Exchange has the requisite system of on-line offer of securities, the company shall also, enter into an agreement with the Regional Stock Exchange for offering securities to public through on-line system.
11A.2.2 The agreement
mentioned in the above clause shall specify inter-alia, the rights, duties,
responsibilities and obligations of the company and stock exchange (s) inter se.
The agreement may also provide for a dispute resolution mechanism between the
company and the stock exchange.
11A.3 Appointment of Brokers
11A.3.1 The stock exchange, shall appoint brokers of the exchange, who are registered with SEBI, for the purpose of accepting applications and placing orders with the company.
11A.3.2 For the purposes of this Chapter, the brokers, so appointed accepting applications and application monies, shall be considered as ‘collection centres’.
11A.3.3. The broker/s so appointed, shall collect the money from his/their client for every order placed by him/them and in case the client fails to pay for shares allocated as per the Guidelines, the broker shall pay such amount.
11A.3.4 The company/lead manager shall ensure that the brokers having terminals are appointed in compliance with the requirement of mandatory collection centres, as specified in clause 5.9 of Chapter V of the Guidelines.
11A.3.5 The company/lead manager shall ensure that the brokers so appointed are financially c