Use of Electronic Clearing System (ECS) for refund in public issues - Instructions for updation of MICR code for refunds through ECS

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..... napati Bapat Marg, Lower Parel, Mumbai - 400 013. The Managing Director and CEO Central Depository Services (India) Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 023. Dear Sirs, Sub. : Use of Electronic Clearing System (ECS) for refund in public issues - Instructions for updation of MICR code for refunds through ECS 1. SEBI vide circular No. SEBI/CFD/DIL/DIP/18/2006/1 .....

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..... s have to update the MICR Code and other bank details of the applicants in the database of the depositories. This is to ensure that the refunds through ECS are made in a smooth manner and that there are no failed/wrong credits. 3. In view of the above, you are advised to issue suitable instructions immediately to your Depository Participants to comply with the aforesaid requirement. 4. The Depo .....

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