If amount of a minimum subscription has not received within 30 days from prospectus date or any othe...........

Companies Act-Phase (I & II) Prospectus

If amount of a minimum subscription has not received within 30 days from prospectus date or any other period prescribed by SEBI, then amount received shall be returned within ……….. Days from the closure of issue.

30 days

15 days

60 days

120 days

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Explanation:

If the stated minimum amount has not been subscribed and the sum payable on application is not received within a period of thirty days from the date of issue of the prospectus, or such other period as may be specified by the Securities and Exchange Board, the amount received under sub-section (1) shall be returned within 15 days