Allotment of Units and refunds of moneys

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..... mum and the maximum subscription amount it seeks to raise under the 1 [collective investment scheme]; and (b) in case of oversubscription the process of allotment of the amount oversubscribed. (2) The Collective Investment Management Company shall refund the application money to the applicants,- (i) if the 2 [collective investment scheme] fails to receive the minimum subscription amount .....

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..... the date of closure of the subscription list. ******* 1 ibid. 2 ibid. 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/84 dated 10-05-2022 before it was read as, (3) Any amount refundable under sub-regulation (2) shall be refunded within a period of six weeks from the date of closure of subscription list, by Registered A.D. and by cheque or demand draft marked A/C .....

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