Allotment of Units and refunds of moneys

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.... minimum and the maximum subscription amount it seeks to raise under the ^1[collective investment scheme]; and (b) in case of oversubscription the process of allotment of the amount oversubscribed. (2) The Collective Investment Management Company shall refund the application money to the applicants,- (i) if the ^2[collective investment scheme] fails to receive the minimum subscripti....

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....n the expiry of^ ^4[five working days] from the date of closure of the subscription list.     ************* NOTES:- 1 ibid. 2 ibid. 3.  Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/84 dated 10-05-2022 before it was read as,  "(3) Any amount refundable under sub-regulation (2) shall be refunded within a period of six week....