Regulation 12 - Return of monies exceeding the liability
Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018 Part IV Refund of monies
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Return of excess sale proceeds: surplus remitted to defaulter only after completion of three years from refund process. Where proceeds from sale of a defaulter's properties exceed the monies due under the certificate and applicable interest and other charges, the excess shall be paid to the defaulter after completion of three years from the date of completion of the refund process.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Return of excess sale proceeds: surplus remitted to defaulter only after completion of three years from refund process.
Where proceeds from sale of a defaulter's properties exceed the monies due under the certificate and applicable interest and other charges, the excess shall be paid to the defaulter after completion of three years from the date of completion of the refund process.
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