Bye-law 11, Securities and Exchange Board of India (Licensing of The business of a merchant banker) Bye-laws, 2017 [SBS-2M0]
As at 7 September 2026. In force from 1 December 2017.
Refund of fees.—Where an application is withdrawn before it is taken up for consideration, or is returned as not being in order, the Depository shall refund the fee paid after deducting fifty thousand rupees towards the cost of processing, shall make the refund within ninety days of the withdrawal or return, and shall intimate the refund to the applicant in Form A.
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