Refund Policy

The Shareholders shall make online payment using internet banking or UPI facility from their own bank account only. Such Application Money will be adjusted for either Allotment or refund. Applications made using payment from third party bank accounts will be rejected.

In case an Application is rejected in full, the whole of the Application Money will be refunded to the Shareholders in the same bank account through which Application Money was received in case of an application using the R-WAP facility. Wherever an Application is rejected in part, the balance of Application Money, if any, after adjusting any money due on Equity Shares Allotted, will be refunded in the respective bank accounts from which Application Money was received on the next day of finalization of Basis of Allotment.

All rights and obligations of the Eligible Equity Shareholders in relation to Applications and refunds pertaining to this Issue shall apply to the Renounce(s) as well

In case of an Application Form received from non-residents, Allotment, refunds and other distribution, if any, will be made in accordance with the guidelines and rules prescribed by RBI as applicable at the time of making such Allotment, remittance and subject to necessary approvals

Application Forms received from non-residents/ NRIs, or persons of Indian origin residing abroad for Allotment of Equity Shares shall, amongst other things, be subject to conditions, as may be imposed from time to time by RBI under FEMA, in respect of matters including Refund of Application Money and Allotment.

Where an Applicant has applied for additional Equity Shares in the Issue and is allotted a lesser number of Equity Shares than applied for, the excess Application Money paid shall be refunded. The refund of monies shall be completed be within such period as prescribed under the SEBI ICDR Regulations. In the event that there is a delay in making refunds beyond such period as prescribed under applicable law, Vikas Ecotech Limited shall pay the requisite interest at such rate as prescribed under applicable law.

In case Vikas Ecotech Limited fails to obtain listing or trading permission from the Stock Exchanges, Vikas Ecotech Limited shall refund through verifiable means the entire monies received within four days of receipt of intimation from the Stock Exchanges, rejecting the application for listing of the Equity Shares.