Refund orders for public issue allotment require registered posting above a prescribed threshold and attract interest for delays. Companies must dispatch refund orders for public issue allotments exceeding a prescribed threshold by registered post, with smaller refunds sent under certificate of posting; delayed refunds attract interest at a prescribed annual rate payable with the refund or duplicate refund order up to the date of actual despatch, and companies remain subject to Companies Act penal provisions for non compliance.
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.
Refund orders for public issue allotment require registered posting above a prescribed threshold and attract interest for delays.
Companies must dispatch refund orders for public issue allotments exceeding a prescribed threshold by registered post, with smaller refunds sent under certificate of posting; delayed refunds attract interest at a prescribed annual rate payable with the refund or duplicate refund order up to the date of actual despatch, and companies remain subject to Companies Act penal provisions for non compliance.
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