Public Offer Account definition

Public Offer Account means the bank account(s) to be opened with the Public Offer Account Bank(s) 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 Offer Account has the meaning ascribed to such term in the Offer Documents.
Public Offer Account means the ‘no-lien’ and ‘non-interest bearing’ account to be opened, in accordance with Section 40(3) of the Companies Act, with the Public Offer Bank to receive monies from the Escrow Account and the ASBA Accounts on the Designated Date;

Examples of Public Offer Account in a sentence

  • Instruct the Public Offer Account Bank (with a copy to the Company and the Promoter Selling Shareholder) of the details of the monies to be transferred from the Public Offer Account to the respective account of the Promoter Selling Shareholder and the Company (if applicable) or the Refund Account, respectively, in accordance with the Agreement.

  • The specimen signatures of the Company, the Book Running Lead Managers and the Registrar for the purpose of instructions to the Escrow Collection Bank, Public Offer Account Bank, the Refund Bank and the Sponsor Banks as provided here in as Schedule X, will be provided to the Bankers to the Offer before the Bid/Offer Opening Date.

  • Upon the occurrence of any such event, the Escrow Collection Bank, the Public Offer Account Bank, the Refund Bank or the Sponsor Banks, as applicable, shall inform the relevant authorized representative promptly, and in any event, immediately and no later than one Working Day from the date of receipt of, such instruction and seek clarifications to the Parties’ mutual satisfaction.

  • The Escrow Collection Bank, the Refund Bank, the Public Offer Account Bank shall not in any case whatsoever use any amounts held in the Escrow Accounts, the Public Offer Account and the Refund Account, respectively, to satisfy this indemnity in any manner whatsoever.

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


More Definitions of Public Offer Account

Public Offer Account means the bank account to be opened with the Public Offer Account Bank(s), 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 Offer Account means the account established in accordance with Clause 2.3 of this Agreement.
Public Offer Account shall have the meaning given to such term in Section 2.2(b);
Public Offer Account has the meaning ascribed to such term in the Offer Documents; “Public Offer Account Bank” has the meaning ascribed to such term in the Offer Documents;
Public Offer Account means the bank account opened with the Bankers to the Offer by the Company under Section 73 of the Companies Act to receive money from the Escrow Accounts on the Designated Date and where the funds shall be transferred by the SCSBs from the ASBA Accounts;
Public Offer Account means the bank which is a clearing member and registered with SEBI as a banker to an issue, and with whom the Public Offer Account(s) will be opened ;
Public Offer Account means an account opened in accordance with the provisions of Section 40(3) of the Companies Act, with the Public Offer Bank to receive monies from the Escrow Accounts and the ASBA Accounts on the Designated Date in this case being Axis Bank Limited;