TMI BlogRefund to investorsX X X X Extracts X X X X X X X X Extracts X X X X ..... and a Hindi newspaper having nationwide circulation and if so directed by the Recovery Officer, issue such advertisement in vernacular newspaper(s) having circulation in the area(s) where the investors are concentrated; (b) direct the defaulter to issue advertisement in its website, if available. (2) The advertisement referred to sub-regulation (1) may also be hosted on the website of the Bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt or a proportionate amount may be repaid to the investors as may be directed by the Recovery Officer. (6) Upon ascertaining the eligibility, the Administrator in consultation with the Recovery Officer, shall repay the money to the eligible investors only through pay orders, demand drafts and electronic transfer through NEFT or RTGS. (7) The refund process shall be kept open for an appropri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ery Officer: Provided that the claim shall be made within a period of three years from the date of transfer of monies to the Investor Protection and Education Fund in terms of sub-regulation (9). (11) The defaulter, and its officers who are in default as defined under section 2 of the Companies Act, 2013, as applicable, shall furnish an undertaking that they shall be liable for payment if an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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