Securities And Exchange Board Of India - Subsection
Section 108(3) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(3)In case of delay in making application for listing beyond twenty days from the date of allotment, the issuer or the issuing company, as the case may be, shall pay penal interest to allottees for each day of delay at the rate of atleastten per cent. per annum from the expiry of thirty days from date of allotment till the listing of such securities to the allottees.
