Securities And Exchange Board Of India - Subsection
Section 14(21) in Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014
(21)If the manager fails to allot, or list the units, or refund the money within the specified time, then the manager shall pay interest to the unit holders at fifteen per cent. per annum, till such allotment/listing/refund and such interest shall not be recovered in the form of fees or any other form payable to the manager by the REIT.
