https://www.taxtmi.com/caselaws?id=103588 Refund of unallotted share application money attracted interest from expiry of the stipulated ten-week refund period, because the company remained in possession of the amount beyond that period and the delay in RBI permission did not displace the refund obligation. The complainant was therefore entitled to interest up to the date the refund order was prepared and acted upon. Where the refund cheque was made payable at a place other than the local branch, causing avoidable bank collection charges, reimbursement was also allowed as part of proper refund practice. The remaining relief was left undisturbed. en-us Wed, 11 Feb 1998 00:00:00 +0530 Thu, 23 Feb 2012 18:18:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103588 Refund of unallotted share application money attracted interest from expiry of the stipulated ten-week refund period, because the company remained in possession of the amount beyond that period and the delay in RBI permission did not displace the refund obligation. The complainant was therefore entitled to interest up to the date the refund order was prepared and acted upon. Where the refund cheque was made payable at a place other than the local branch, causing avoidable bank collection charges, reimbursement was also allowed as part of proper refund practice. The remaining relief was left undisturbed. Case-Laws Companies Law Wed, 11 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103588