Securities and Exchange Board of India (SEBI) issued Master Circular No. SEBI/HO/CFD/PoD-1/P/CIR/2024/072 on June 3, 2024, to all registered Bankers to an Issue (BTI), consolidating all previous SEBI directives and instructions related to BTIs into a single document for easier stakeholder access. This new circular rescinds previous ones but maintains the validity of actions taken under them, preserving any rights, obligations, or penalties incurred. Issued under Section 11(1) of the SEBI Act, 1992, the circular is accessible on SEBI’s website, and is intended to streamline regulatory guidance for BTIs. It was signed by Yogita Jadhav, General Manager of the Division of Policy and Development, Corporation Finance Department.
Securities and Exchange Board of India
Master Circular No. SEBI/HO/CFD/PoD-1/P/CIR/2024/072 Dated: June 03, 2024
To
All registered Bankers to an Issue (‘”BTI”)
Dear Sir / Madam,
Subject: Master Circular for Bankers to an Issue registered with SEBI
1. The Securities and Exchange Board of India (“SEBI” or “the Board”) has been, from time to time, issuing various circulars/directions to Bankers to an Issue under the relevant provisions of the Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994 and extant securities laws. In order to enable the stakeholders to have access to all such circulars at one place, this Master Circular in respect of the Bankers to an Issue is prepared and issued.
2. With the issuance of this Master Circular, all directions/instructions contained in the circulars listed out in the Appendix to this Master Circular shall stand rescinded to the extent they relate to Bankers to an Issue.
3. Notwithstanding such rescission, –
(a) anything done or any action taken or purported to have been done or taken under the rescinded circulars, prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master Circular;
(b) any application made to the Board under the rescinded circulars, prior to such rescission, and pending before it shall be deemed to have been made under the corresponding provisions of this Master Circular; and
(C) the previous operation of the rescinded circulars or anything duly done or suffered thereunder, any right, privilege, obligation or liability acquired, accrued or incurred under the rescinded circulars, any penalty, incurred in respect of any violation committed against the rescinded circulars, or any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty as aforesaid, shall remain unaffected as if the rescinded circulars have never been rescinded.
4. This Master Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 (“SEBI Act”).
5. This Master circular is available at the web page “Master Circulars” on the website sebi.gov.in.
Yours faithfully,
Yogita Jadhav
General Manager
Division of Policy and Development
Corporation Finance Department
Phone + 91-022-26449583
Email: yogitag@sebi.gov.in
