Allotment and refund obligations require electronic processing and payment of prescribed interest where allotment or refund is delayed. Issuers must complete allotment of specified securities and/or refund or unblock application monies within the period prescribed by the Board, perform allotment, dematerialised credit, refunds or unblocking electronically, and, if delayed beyond the stipulated period, undertake to pay prescribed interest to shareholders as disclosed in the draft and final letter of offer.
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.
Allotment and refund obligations require electronic processing and payment of prescribed interest where allotment or refund is delayed.
Issuers must complete allotment of specified securities and/or refund or unblock application monies within the period prescribed by the Board, perform allotment, dematerialised credit, refunds or unblocking electronically, and, if delayed beyond the stipulated period, undertake to pay prescribed interest to shareholders as disclosed in the draft and final letter of offer.
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