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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)(u) in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014

(u)If the investment manager fails to allot or list the units or refund the money within the specified time, then the investment manager shall pay interest to the unit holders at the rate of fifteen per cent. per annum, till such allotment or listing or refund and such interest shall be not be recovered in the form of fees or any other form payable to the investment manager by the InvIT;