Public Issue Account definition

Public Issue Account means bank account(s) to be opened with the Public Issue Account Bank under Section 40(3) of the Companies Act, 2013, to receive monies from the Escrow Account(s) and ASBA Accounts on the Designated Date;

Public Issue Account means a no lien and non-interest bearing account opened in accordance with the provisions of Section 40(3) of the Companies Act, 2013 to receive monies from the Escrow Accounts and the ASBA Accounts on the Designated Date, in this case being State Bank of India;

Public Issue Account means the account established in accordance with Clause 2.3 of this Agreement;

Examples of Public Issue Account in a sentence

• Any such resignation from the respective Escrow Collection Bank, the Public Issue Account Bank, the Refund Bank or the Sponsor Banks shall not terminate this Agreement vis-à-vis Escrow Collection Bank, the Public Issue Account Bank, the Refund Bank or the Sponsor Bank, who have not resigned, as applicable.

• The Escrow Collection Bank, the Public Issue Account Bank, the Refund Bank and the Sponsor Banks and their Correspondent Banks shall not in any case whatsoever use the amounts held in the Escrow Accounts, Public Issue Account or Refund Account to satisfy this indemnity in any manner whatsoever.

• None of the Escrow Accounts, the Public Issue Account and the Refund Account shall have cheque drawing facilities.

• The Bankers to the Issue shall not in any case whatsoever use the amounts held in Escrow Accounts and/or the Public Issue Account Bank and/or Refund Account to satisfy this indemnity.

• The Company shall cooperate with the Escrow Collection Bank to ensure such closure of the Escrow Accounts, the Public Issue Account and the Refund Account.

• Such termination shall be effected by a prior notice of not less than two weeks in writing and shall come into effect only on transfer of the amounts standing to the credit of the Escrow Accounts, Public Issue Account or Refund Account to the substituted escrow collection bank, the public issue account bank and/or refund bank.

• The Public Issue Account Bank shall, and the Registrar to the Issue shall ensure that the Public Issue Account Bank shall, after a notice to the Managers (with a copy to the Company), not later than 1 (one) Working Day from the date of receipt of the aforementioned notice from the Managers, transfer the amount held in the Public Issue Account to the Refund Account.

• The Public Issue Account Bank shall take the necessary steps to ensure closure of the Public Issue Account promptly and only after all monies in the Public Issue Account are transferred to the accounts of the Company upon receipt of instructions as provided in Schedule X in accordance with the terms of this Agreement.

• The specimen signatures of the Company, the Managers and the Registrar to the Issue for the purpose of instructions to the Escrow Collection Bank, Public Issue Account Bank, the Refund Bank and the Sponsor Banks, as the case may be, as provided in Schedule VIII A, VIII B and VIII C, will be provided to the Bankers to the Issue before the Bid/Issue Opening Date.

More Definitions of Public Issue Account

Public Issue Account means account to be opened to receive monies from the Escrow Account and ASBA Accounts on the Designated Date.

Public Issue Account has the meaning ascribed to such term in the Issue Documents.

Public Issue Account has the meaning ascribed to such term in the Issue Documents.