Allotment of shares of Public Issue to be Listed ‑ Despatch of refund orders to applicants against public issue of share capital ‑ Instructions to act upon complaints regarding non‑refund

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..... hares of Public Issue to be Listed ‑ Despatch of refund orders to applicants against public issue of share capital ‑ Instructions to act upon complaints regarding non ‑ refund 1. I am directed to invite your attention to the provisions of section 73 of the Companies Act, 1956, which makes it obligatory upon companies to refund application monies to the applicants, .....

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..... he provisions of section 73, in appropriate cases, you may file prosecution after issuing a show‑cause notice to the directors concerned. In this regard, you may consider the report sent by Stock Exchanges to you, in terms of paragraph 6 of the Circular dated 8‑1‑1988 issued by the Ministry of Finance to Stock Exchanges. If necessary, you may cause inspection of the records of th .....

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