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NSDL claims 'no role' in Yes Bank IPO issue
MUMBAI:
Claiming that the recent Securities and Exchange Board of India order on Yes Bank IPO (initial public offer) demat fiasco has "grave legal defects,'' depository NSDL on Tuesday said it did not have any role in monitoring fictitious names in the IPO applications. "Scrutiny of applications for the IPO is done by the Registrar to an issue, who works under the overall supervision of SEBI.
SEBI has also notified the regulations for supervising and regulating the activities of the Registrar to an issue. NSDL has no role to play when applications for an IPO are made,'' NSDL said in a letter to SEBI member G. Anantharaman.
Karvy Computershares was the registrar to the Yes Bank IPO. — PTI
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