Mar 31, 2021

SEBI Circular on Reduction in Unblocking/ Refund of Application Money

SEBI issued a Circular dated March 31, 2021, on reduction in unblocking or refund of application money. While, at present, in case of non receipt of minimum subscription, the issuer is mandated to refund all the application money within 15 days from the closure of the issue; SEBI has now reduced the timelines for refund of the moneys to the investors in the above mentioned events from 15 days to four days.

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