Allotment of shares of Public Issue to be Listed Despatch of refund orders to applicants against public issue of share capital Instructions to act upon complaints regarding non refund

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.... refund orders to applicants against public issue of share capital ‑ Instructions to act upon complaints regarding non‑refund 1. I am directed to invite your attention to the provisions of section 73 of the Companies Act, 1956, which makes it obligatory upon companies to refund application monies to the applicants, after public issue, within 10 weeks from the close of the subscription....

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....after issuing a show‑cause notice to the directors concerned. In this regard, you may consider the report sent by Stock Exchanges to you, in terms of paragraph 6 of the Circular dated 8‑1‑1988 issued by the Ministry of Finance to Stock Exchanges. If necessary, you may cause inspection of the records of the company to ensure that the company concerned has duly complied with the pr....