Question

If a company fails to receive minimum subscription within 120 days from the date of issue of the prospectus, in how many days should company refund the amount of application money from the date of issue of Prospectus?

• A. 150 days
• B. 230 days
• C. 130 days
• D. 120 days

Hint:

To remember the timeline:
• 120 days is the "waiting" period to see if the money comes in.
• 10 days more (Total 130) is the "grace" period to return the money to investors if the target wasn't met.

Answer 1

The Correct Option is C