Payment of consideration and return of equity shares

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....consideration and return of equity shares 20. (1) The promoter shall immediately 1[upon] success of the offer, open a special account with a banker to an issue registered with the Board and transfer ....

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.... paragraphs 7 or 9 of Schedule II shall be returned or released to him, within ten working days from the closure of the offer, in cases where the bids pertaining thereto have not been accepted. *****....