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TMI BlogContents of the offer documentX X X X Extracts X X X X X X X X Extracts X X X X ..... y funds in this offer unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this offering. For taking an investment decision, investors must rely on their own examination of the 3 [collective investment scheme] and the offer including the risks involved. The units have not been recommended or approved by Securities and Exchange Board of India (SEBI) nor does SEBI guarantee the accuracy or adequacy of this document. Specific attention of investors shall be invited to the summarized and detailed statement of Risk Factors by indicating their page number(s) in the General Risks . (iv) Collective Investment Management Company s Absolute Responsibility clause to be incorporated as under: The Collective Investment Management Company, having made all reasonable inquiries, accepts responsibility for and confirms that this offer document contains all information with regard to the 4 [collective investment scheme] and that the information contained in the offer document is true and correct in all material aspects and is not misleading in any material respect, that the opinions and in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... either for the financial soundness of any 7 [collective investment scheme] for which the issue is proposed to be made or for the correctness of the statements made or opinions expressed in the offer document. Collective Investment Management Company, ............................ has certified that the disclosures made in the offer document are generally adequate and are in conformity with SEBI (Collective Investment Scheme) Regulations, 1999 in force for the time being. This requirement is to facilitate unit holders to take an informed decision for making investment in the proposed issue. It should also be clearly understood that the Collective Investment Management Company is primarily responsible for the correctness, adequacy and disclosure of all relevant information in the offer document. WE THE COLLECTIVE INVESTMENT MANAGEMENT COMPANY CONFIRM that: the offer document forwarded to SEBI is in conformity with the documents, materials and paper relevant to the issue; all the legal requirements connected with the said issue, as also the guidelines, instructions, etc. issued by SEBI, the Government and any other competent authority in this behalf have been duly complied with; and th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 8.3 How to apply - availability of forms, offer document and mode of payment 8.4 Any special tax benefits for investing in the 14 [collective investment scheme]. 9. Appraisal of the Project Project to be appraised by appraising agency for carrying out appraisal and salient features of the appraisal report to be detailed. The scope and purpose of the appraisal along with the date of appraisal may be disclosed. The cost of the project and means of finance as per the appraisal report should also be disclosed. The weakness and threats, if any, given in the appraisal report should also be disclosed by way of risk factors. 10. Project relating to the 15 [collective investment scheme] The Collective Investment Management Company shall disclose- (i) detail particulars as are sufficient to disclose the true nature of the 16 [collective investment scheme], (ii) the nature and description of property and the conditions or circumstances under which it will become vested with the trustee, (iii) with respect to the property purchased or acquired or proposed to be purchased or acquired in relation to the 17 [collective investment scheme], the following shall be given : - the name and address of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s provided and the compensation to be paid therefore. 11.3 The name and principal business address of the Registrars and Transfer Agents. A statement to the effect that the trustee and the Collective Investment Management Company have ensured that the Registrar has adequate capacity to discharge responsibilities with regard to processing of applications and despatching unit certificates to unit holders within the time limit prescribed in the regulations and also has sufficient capacity to handle investor complaints. 11.4 Identification and name and address of the statutory auditor for the 23 [collective investment scheme]. 12. Constitution of the Collective Investment Scheme Under this head, the following shall be discussed: (i) A brief description of the objectives of the 24 [collective investment scheme]; (ii) Functions and responsibilities of the constituents of the Collective Investment Scheme viz., Collective Investment Management Company and trustee; (iii) Names and addresses of the Directors of the trustee and details of their principal occupations and current directorships; (iv) Summary of substantial provisions of the Trust Deed which may be of material interest to the uni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvolved, defaults to the financial institutions/banks and nonpayment of statutory dues by the Collective Investment Management Company shall be listed in the offer document together with the amounts involved and the present status of such litigations/defaults. (ii) The above information is required to be furnished in addition to the litigations against the Collective Investment Management Company or against any other entity whose outcome could have a materially adverse effect on the position of the 30 [collective investment scheme]. (iii)The pending proceedings initiated for economic offences against the directors of the Collective Investment Management Company, shall be disclosed separately indicating their present status. The Collective Investment Management Company shall furnish the details of the past cases in which penalties were imposed by the concerned authorities. (iv)Outstanding litigations, defaults, etc., pertaining to matters likely to affect operations and finances of the 31 [collective investment scheme] including disputed tax liabilities etc. shall be furnished in the offer document. (v) The Collective Investment Management Company shall ensure to appropriately incor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the proceeds of the Stockinvest from the issuing bank or to affix non-allotment advice on the instrument or cancel the stockinvest of the non-allottees or partially successful allottees who have enclosed more than one stockinvest. Such cancelled Stock invest shall be sent back by the Registrars directly to the Investors. Stockinvests should be marked account payee and inscribed with the words - Collective Investment Scheme - A/c 36 [collective investment scheme]. 17. Despatch of Refund Orders The following clause should be incorporated in the offer document: The trustee shall ensure despatch of refund orders of value over ₹ 1,500 and unit certificates by Registered Post only and adequate funds for the purpose will be made available to the Registrars. 18. Interest in case of delay in despatch of allotment letters/refund orders The caption should appear under terms of the present issue and should contain the following: The trustee agrees that as far as possible allotment of units offered to the public shall be made within 30 days of the closure of the issue. The trustee further agrees that it shall pay interest @15% per annum if the allotment letters/refund orders have not been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the following certificates: i. all refund orders of the previous issues were despatched within the prescribed time and in the prescribed manner; ii. all unit certificates were despatched to the allottees within the prescribed time and in the prescribed manner; and 25. Appointment of other intermediaries (i) Collective Investment Management Company should ensure that the intermediaries being appointed are registered with the Board, wherever required. The Collective Investment Management Company shall independently assess the capability and the capacity of the various intermediaries to handle the issue. (ii) Collective Investment Management Company should ensure that Bankers to the Issue are appointed in all the mandatory collection centres. (iii) Collective Investment Management Company shall ensure that Registrars to Issue registered with the Board are appointed. (iv) Registrar to an issue who is associated with the Collective Investment Management Company as a promoter or a director shall not be allowed to act as Registrar for that issue. 26. Offer document to be made public The draft offer document filed with the Board shall be made public for a period of 21 days from the date of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Issue along with the schedules within one week from the date of closure of the issue. Further, the offer documents and application forms should specifically indicate that the acknowledgement of receipt of application moneys given by the collection agents shall be valid and binding on the Collective Investment Management Company and other persons connected with the issue. (v) The investors from the places other than from the places where the mandatory collection centres and authorised collection agents are located, can forward their applications along with stockinvests to the Registrars to the Issue directly by Registered Post with Acknowledgement Due and such applications shall be dealt with by the Registrars to the Issue in the normal course. 31. Post issue Monitoring reports (a) Collective Investment Management Company shall ensure the submission of the post issue monitoring reports irrespective of the level of subscription. These reports are required to be submitted within 3 working days from the due dates. (b) 3-day post issue monitoring report The due date for this report shall be the 3rd day from the date of closure of subscription of the issue. (c) 98-day post issue monitori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssue shall not exceed the amount specified in the offer document. However, an oversubscription to the extent of 10% of the amount mentioned is permissible for the purpose of rounding off to the nearer multiple of 100 while finalising the allotment. 37. Updation of Offer Document (i) The Collective Investment Management Company should ensure that the particulars (audited statement) contained therein should not be more than 6 months old from issue opening date. (ii) Restrictions, if any, on transfer and transmission of units. (iii) Tax treatment of Investments in vs. A detailed write-up on the various tax benefits that are available and the taxes that are charged to the unit holders in the 40 [collective investment scheme]s. 38. Basis of Allotment In each and every issue of units to the public that has been oversubscribed, the Collective Investment Management Company and the Registrar to an Issue, shall ensure that allotments are made in the following manner : (a) Proportionate allotment procedure: The allotment shall be subject to allotment in marketable lots, on a proportionate basis as explained below: (i) Applicants will be categorised according to the number of units applied for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any surplus still remains, should be adjusted to next higher category and so on till the surplus is fully used. (vii) As the process of rounding off to the nearer multiple of 100 may result in the actual allocation being higher than the units offered, it would be necessary to allow a 10% margin i.e., the final allotment may be higher upto 110% of the size of the offering. 39. The Date of the Offer Document The date of the offer document shall be reckoned to be the date when the offer document was filed with the Board. 40. Trust Deed (a) The offer date shall mention the date of, and parties to, the trust deed relating to the collective investment scheme. (b) The summary of the provisions of the trust deed and the regulation regarding the retirement, removal and replacement of trustee and Collective Investment Management Company. 41. 41 [Collective investment scheme]s and investments All offer documents shall contain : a) All offer documents shall contain the name and description and the date of commencement of operation of every other 42 [collective investment scheme] involving the issue of units to the public conducted by the Collective Investment Management Company within the 5 ye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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