In your interest.
Online Personal Finance Magazine
No beating about the bush.
Interest earned on application money must be used to reduce issue expenses
Three years ago, just before a change of guard at the Securities and Exchange Board of India (SEBI), a committee headed by Dr P.J. Nayak, called the SMILE (Securities Market Infrastructure Leveraging Expert Task Force) Committee, made a series of recommendations on how to tighten and streamline the public issue...