Major Shift in Refund Process: SEBI Mandates New Phase II For Citrus Check Inns Investors, Opens Digital Portal
All Investors Now Eligible for Refund as Supreme Court Committee Launches Public Notice
SEBI has issued a critical public notice concerning investors of Citrus Check Inns Limited and Royal Twinkle Star Club Pvt. Ltd. The notice details the launch of Phase II for the refund process, supervised by an independent committee appointed following orders from the Hon'ble Supreme Court. This development marks a significant shift in the recovery mechanism for affected shareholders.The committee, chaired by Mr. A.P. Kurhekar (Retd. District Judge), was originally constituted to facilitate refunds based on civil appeal rulings dating back to 2017. The original parameters focused on investors who had invested up to ₹7,500 and were eligible for a refund up to ₹5,000 after commission adjustments.
Universal Refund Eligibility Declared in Latest Directive
A crucial update has been announced regarding the eligibility criteria. As per a recent order dated May 25, 2026, the scope of refunds has been expanded significantly. All investors are now eligible for a refund up to ₹5,000 after accounting for any commission or previous refunds received by them.This revised ruling applies universally and specifically covers those investors who were previously left out during Phase I of the refund process. The mandate aims to ensure equitable recovery across all investor segments.
Timeline and Mechanics of Phase II Refund Process
To manage this expanded scope, the committee has established a dedicated online portal. Investors can access the necessary platform via the domain name https://www.citrusroyalrefund.com. This new phase is scheduled to commence on August 1, 2026.The refund period under Phase II will remain open for 45 days, concluding on September 14, 2026. The committee has emphasized that the entire claim process must be completed online through this portal only.
Investor Instructions and Required Actions
Investors are urgently requested to prepare all necessary documentation in advance of the launch date. Before accessing the refund mechanism, claimants must register their full claim on the official portal. Detailed instructions for document submission and registration procedures will be provided directly on https://www.citrusroyalrefund.com once the process begins.The issuance of this Public Notice by SEBI aims to facilitate a structured return of capital in line with the established judicial directives, providing a clear path forward for the affected investor community.
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