ISSUE OF SHARES. — SPCC STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceSPCCISSUE OF SHARES.2 Marks
Question
Explain the process of blocking application amount in applicant's account.
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Answer
The amount of the share application amount is to be blocked in the applicant's account in any of the branches sanctioned for the bank's ASBA.
The next procedure is done on the basis of the signature of the applicant's bank account and the signature of the demat account according to the sample signature and demat account.
Banks, after obtaining share applications, after blocking the application amount in each applicant's account, the company informs the registrar about it and assigns the amount to which the application's amount is blocked to the lead manager.
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