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[Cites 0, Cited by 0] [Section 14(4)] [Section 14] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 14(4)(t) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014

(t)the InvIT shall refund money,-
(i)to all the applicants in case it fails to collect subscription of atleast [ninety] [Substituted 'seventy five' by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] per cent. of the [fresh] [Inserted by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] issue size as specified in the [***] [Omitted 'final' by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] offer document;
(ii)to applicants to the extent of the over subscription, in case the moneys received is in excess of the extent of over-subscription as specified in the [***] [Omitted 'final' by Notification No. SEBI/LAD-NRO/G.N./2016-17/021, dated 29.11.2016 (w.e.f. 26.9.2014).] offer document, money shall be refunded to applicants to the extent of the oversubscription: