ASBA Account definition

ASBA Account means an account maintained with an SCSB by an ASBA Bidder, as specified in the ASBA Form submitted by ASBA Bidders for blocking the Bid Amount mentioned in the relevant ASBA Form and includes the account of the RII Bidder blocked upon acceptance of UPI Mandate Request by RIIs using the UPI mechanism to the extent of the Bid Amount of the Bidder/Applicant;
ASBA Account means a bank account maintained with a Self-Certified Syndicate Bank(s) (“SCSB”) and which will be blocked by such SCSB to the extent of Application Amount of the ASBA Applicant.
ASBA Account means a bank account maintained with an SCSB by an ASBA Bidder, as specified in the ASBA Form submitted by ASBA Bidders for blocking the Bid Amount mentioned in the relevant ASBA Form and includes the account of an RIB which is blocked upon acceptance of a UPI Mandate Request made by the RIBs using the UPI Mechanism;

Examples of ASBA Account in a sentence

  • The Sponsor Banks, based on the UPI Mandate Request approved by the respective UPI Bidders at the time of blocking their funds, will raise the debit/collect request from the respective ASBA Account and issue necessary instructions, whereupon the funds will be transferred from such ASBA Account to the Public Offer Account based on the finalized basis of allocation and the remaining funds, if any, will be unblocked without any manual intervention by the UPI Bidder.


More Definitions of ASBA Account

ASBA Account means the bank account maintained with an SCSB by an ASBA Bidder, as specified in the ASBA Form submitted by ASBA Bidders for blocking the Bid Amount mentioned in the relevant ASBA Form and includes the account of a UPI Bidder which is blocked upon acceptance of a UPI Mandate Request made by the UPI Bidder.
ASBA Account means an account maintained with SCSBs and as specified in the Application Form or plain paper Application, as the case may be, by the Applicant for blocking the amount mentioned in the Application Form or in the plain paper Application;

Related to ASBA Account

  • Investment Account As defined in Section 3.12(a).

  • Sub-Account means any of the individual sub-accounts of a Participant's Account that is maintained as provided in Article VIII.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Direct Account : means any Account which is not an ISA Account.

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.