If the issuing company fails to refund the entire subscription amount within the stipulated period, it is liable to pay the amount with interest @ eighteen per cent per annum for the period of delay to the subscribers.
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2019
If the issuing company fails to refund the entire subscription amount within the stipulated period, it is liable to pay the amount with interest @ eighteen per cent per annum for the period of delay to the subscribers.
Answer & Explanation:
If the issuing company fails to refund the entire subscription amount within the stipulated period, it is liable to pay the amount with interest at the rate of fifteen percent annum for the period of delay.
Topics: SEBI (ICDR) Regulations, 2018
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