Circular SEBI/HO/MRD/CIR/P/2022/1433 of the Securities and Exchange Board of India dated 20th April, 2022 on the issue of securities [C12-31Q]

SEBI/HO/MRD/CIR/P/2022/1433

Securities and Exchange Board of India

Mumbai, dated the 20th April, 2022

CIRCULAR

To

All adjudicating officers,

Subject: The issue of securities by issuers under the Securities and Exchange Board of India Act, 1992, regarding.

This circular is issued in exercise of the powers conferred under section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market

1. References have been received seeking clarification on the manner in which section 9 applies to the issue of securities by issuers.

2. The matter has been examined. Every issuer carrying on the issue of securities shall make an application in Form C to the Board within thirty days, accompanied by a fee of five thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the issue of securities is undertaken, and the Board shall dispose of it within thirty days of its receipt.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Securities and Exchange Board of India.

(Chief General Manager)