Chapter VIII - NET ASSET VALUE AND TIMELINES FOR ALLOTMENT OF MUTUAL FUND UNITS AND PAYMENT OF INVESTMENT PROCEEDS (From Regulation 43 to Regulation 46)
Mutual fund schemes must state subscription limits; pro rata allotment and mandated refunds apply when conditions are unmet. The asset management company must state the minimum and, where applicable, the maximum subscription amount in the offer document; allotment on oversubscription is made on a pro-rata basis; the mutual fund and asset management company must refund application money within the period specified by the Board where minimum subscription is not met, subscriptions exceed the maximum, or applications are rejected; and the scheme must deploy new fund offer proceeds within the Board-specified time.
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.
Mutual fund schemes must state subscription limits; pro rata allotment and mandated refunds apply when conditions are unmet.
The asset management company must state the minimum and, where applicable, the maximum subscription amount in the offer document; allotment on oversubscription is made on a pro-rata basis; the mutual fund and asset management company must refund application money within the period specified by the Board where minimum subscription is not met, subscriptions exceed the maximum, or applications are rejected; and the scheme must deploy new fund offer proceeds within the Board-specified time.
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