InvestorQ : Can I submit my ASBA application to a broker and what happens if there are errors?
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Archita Jajjoo made post

Can I submit my ASBA application to a broker and what happens if there are errors?

Answer
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Niti Shenoi answered.
2 years ago


Yes. You can submit the ASBA application to your broker. The broker will take upon them the task of ensuring that your ASBA application is appropriately logged. In fact, they also make it a point to check the application for any errors and intimating you before submitting the application. However the question is on the onus. Who is responsible for errors in the data uploaded in the electronic bidding system in case of public issue? In case there is an error in the data furnished in the application form submitted by investor, the investor shall be responsible. In case there is an error by SCSB/Trading member in entering the data in the electronic bidding system of the stock exchanges, the SCSB/Trading member shall be responsible. That is why it is always advisable to double check your application before submitting it.