Section 12(8) in The Ombudsman Scheme for Non-Banking Financial Companies, 2018
(8)An Award allowing the complaint shall lapse and be of no effect unless the complainant furnishes to the NBFC and the Ombudsman concerned within a period of 30 days from the date of receipt of copy of the Award, a letter of acceptance of the Award in full and final settlement of his claim.Provided that no such acceptance may be furnished by the complainant if he has filed an appeal under Cub Clause (1) of Clause 14.
