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TMI BlogOPERATIONAL GUIDELINESX X X X Extracts X X X X X X X X Extracts X X X X ..... merchant banker and the Stock Exchanges(s) may charge such reasonable charge for providing a copy of the draft offer document. 3(Provided that nothing contained in this clause shall apply to a fast track issue.) 16.1.3 4((a) The lead merchant banker shall submit the draft offer document on a computer floppy to the dealing office of the Board and to the Primary Market Department, SEBI, Head Office, as specified in Schedule XXIII. (b) In case of book built issues the lead merchant banker shall submit a printed and soft copy on a computer floppy, of the draft offer document incorporating the Board's observations and a printed copy of bid cum application form to the Primary Market Department, SEBI, Head Office at least five days before opening of bidding.) 5(Provided that nothing contained in this clause shall apply to a fast track issue.) 16.1.4 (a) The Lead Merchant Bankers shall submit two copies of final printed copy of the final offer document to dealing offices of Board 6(within three (3) days of filing offer document with Registrar of Companies / concerned Stock Exchange(s) as the case may be) (b) 7(The lead merchant banker shall submit one final printed copy of the fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs, suspension / cancellation / prohibitory orders). (vi) Outstanding fees payable to SEBI by these entities, if any. (c) The draft and final offer documents submitted to the Board on computer floppies as per the clause 16.1.3 and 16.1.4(c) shall be accompanied by the information as per format in Schedule XXIIIA.) 20(Provided that nothing contained in sub-clause (a) and (b) shall apply to a fast track issue.) 16.1.6 Offer documents not accompanied by the information referred to in clause 16.1.5 may be rejected. 16.1.7 (a) 21(Lead Merchant Bankers shall obtain similar information from other intermediaries including Self Certified Syndicate Banks to ensure that they comply with these guidelines and a confirmation from all intermediaries including Self Certified Syndicate Banks that they are eligible to be associated with the concerned issue.The intermediaries shall also indicate in their letters that they have obtained such information from other intermediaries.) 16.1.8 Despatch of issue material 16.1.8.1 (a) Lead merchant bankers shall ensure that whenever there is a reservation for NRIs, 10 copies of the prospectus together with 1000 application forms are despatched in a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Board's Head office, Mumbai. 16.2.3.2 The Lead Merchant Banker(s) shall inform the Board on important developments about the particular issues being lead managed by them during the intervening period of the reports. 16.2.4 Issue of No objection certificate(NOC) 25(16.2.4.1 (a) As per the Listing Agreement of the Stock Exchanges, the issuer companies shall deposit 1% of the amount of securities offered to the public and/or to the holders of the existing securities of the company, as the case may be, with the designated Stock Exchange, which can be released by the concerned stock exchange only after obtaining an NOC from the Board. (b) An application for NOC shall be submitted by issuer company to the Board in the format specified in Schedule XXIV. 16.2.4.2 The following conditions shall be complied before submitting the application for issue of NOC: a) Completion of 4 months from the date of obtaining the listing permission from the concerned Designated Stock Exchange or the last date when the listing permission was obtained from any of the other stock exchanges, where the securities are proposed to be listed, whichever is later. b) 26(Satisfactory redressal of all com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rchant banking activities 16.3.2.1 (a) In terms of regulation 28 of Securities and Exchange Board of India (Merchant Bankers Regulation) 1992, the merchant bankers shall send half yearly report in the format specified at Schedule XXVII relating to their merchant banking activities. (b) The report referred to in sub-clause (a) shall be submitted twice a year, as on March 31 and September 30 and it should reach the Board within three months from the close of the period to which it relates. 16.4 Registration with Association of Merchant Bankers of India (AMBI) 16.4.4 Registered Merchant Bankers shall inform the Board of their having become a member of AMBI with relevant details. 16.5 Issue of Penalty Points 16.5.1 (a) Penalty points may be imposed on the merchant banker for violation of any of the provisions of operational guidelines under these Chapters. (b) The Merchant Banker, on whom penalty point of four or more has been imposed may be restrained from filing any offer document or associating or managing any issues for a particular period. (c) The Board may initiate action under the SEBI (Merchant Bankers) Regulations against the Merchant Bankers, irrespective of whet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tted the following clause vide SEBI Circular No. DIP (Compendium) Circular No. 3 dated August 04, 2000: "Whether any promoter/ director/ group and/ or associate company of the Lead Manager is associated with securities related business and registered with SEBI." Initially Inserted vide SEBI Circular No. RMB (Compendium) Series Circular No. 2 (1999-2000) dated February 16, 2000. 14 Omitted the following clause vide SEBI Circular No. DIP (Compendium) Circular No. 3 dated August 04, 2000: "If any one or more of these persons/entities are registered with SEBI, their respective registration numbers." Initially Inserted vide SEBI Circular No. RMB (Compendium) Series Circular No. 2 (1999-2000) dated February 16, 2000. 15 Omitted the following clause vide SEBI Circular No. DIP (Compendium) Circular No. 3 dated August 04, 2000: "If registration has expired, reasons for non renewal." Initially Inserted vide SEBI Circular No. RMB (Compendium) Series Circular No. 2 (1999-2000) dated February 16, 2000. 16 Omitted the following clause vide SEBI Circular No. DIP (Compendium) Circular No. 3 dated August 04, 2000: "Details of any enquiry / investigation conducted by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lic representatives". 24 Inserted vide SEBI Circular No. SEBI/CFD/DIL/DIP/31/2008/30/7 dated July 30, 2008. 25 Substituted vide SEBI/CFD/DIL/DIP/Circular No. 11 dated August 14, 2003 for the following: "16.2.4.1 (a) As per the Listing Agreement of the Stock Exchanges, the issuer companies shall deposit 1% of the amount of securities offered to the public and/or to the holders of the existing securities of the company, as the case may be, with the regional Stock Exchange, which can be released by the concerned stock exchange only after obtaining an NOC from the Board. (b) An application for NOC shall be submitted by issuer company to the Board in the format specified in Schedule XXIV. 16.2.4.2 The following conditions shall be complied before submitting the application for issue of NOC: a) Completion of 4 months from the date of obtaining the listing permission from the concerned Regional Stock Exchange or the last date when the listing permission was obtained from any of the other stock exchanges, where the securities are proposed to be listed, whichever is later. b) Satisfactory redressal of all complaints received at the Board against the Company. c) Certificate fro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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