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of <h1>Issuers Must Call Subscription Monies Within 12 Months Unless Monitoring Agency Appointed Under Regulation 16</h1> If an issuer intends to collect subscription monies in installments, it must ensure that all outstanding subscription money is called within twelve months from the allotment date. If any applicant fails to pay within this period, the equity shares with unpaid calls and any subscription money already paid on those shares will be forfeited. However, this twelve-month requirement does not apply if the issuer has appointed a monitoring agency as per regulation 16.
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