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[Cites 0, Cited by 0] [Section 99(1)] [Section 99] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 99(1)(b) in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009

(b)If the issuing company fails to refund the entire subscription amount within fifteen days from the date of the closure of the issue, it is liable to pay the amount with interest to the subscribers at the rate of fifteen per cent. per annum for the period of delay.