Public Offer Account definition

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

Examples of Public Offer Account in a sentence

• 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 Bank, who have not resigned, as applicable.

• The Public Offer Account Bank shall, and the Registrar to the Offer shall ensure that the Public Offer Account Bank shall, after a notice to the Managers (with a copy to the Company and the Selling Shareholders), 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 Offer Account to the Refund Account.

• The Company shall cooperate with the Escrow Collection Bank to ensure such closure of the Escrow Accounts, the Public Offer 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 Offer Account or Refund Account to the substituted escrow collection bank, the public offer account bank and/or refund bank.

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

More Definitions of Public Offer Account

Public Offer Account means a no lien and non-interest bearing account to be opened with the Public Offer Bank, under Section 40(3) of the Companies Act to receive monies from the Escrow Account and ASBA Accounts on the Designated Date;

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 account established in accordance with Clause 2.3 of this Agreement.

Public Offer Account means the ‘no-lien’ and ‘non-interest bearing’ bank account to be opened with the Public Offer Account Bank, under Section 40(3) of the Companies Act, 2013 to receive monies from the Escrow Account(s) and ASBA Account(s) on the Designated Date;

Public Offer Account shall have the meaning given to such term in Section 2.2(b);

Public Offer Account has the meaning given to such term in the Offer Documents; “Public Offer Account Bank” has the meaning given to such term in the Offer Documents; “RBI” shall mean the Reserve Bank of India;

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 ;