Section 7(6) in The Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016
(6)An application received for refund of any claim under this rule duly verified by the concerned company shall be disposed off by the Authority within sixty days from the date of receipt of the verification report from the company, complete in all respects and any delay beyond sixty days shall be recorded in writing specifying the reasons for the delay and the same shall be communicated to the claimant in writing or by electronic means.
