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Refund of share application money

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13 February 2010 Whether interest is paid in case of delay of refund of share application money. If yes, what is the rate of interest and what is the period of time after which interest is payable.
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Ankur Garg

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Ankur Garg (Expert)
13 February 2010 Law is silent regarding refund and rate of return. It depends on the terms and conditions agreed at the time of acceptance of share application money.

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