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?

Correct option is C

If a company fails to receive minimum subscription within 120 days from the date of issue of the prospectus, it must refund the application money within 130 days from the date of the issue of the prospectus. This ensures investor protection and adherence to regulatory timelines.