What is the refund process for ISB Hyderabad?

ISB Hyderabad application fee and admission fees are non-refundable. But IBS Hyderabad does have a refund policy. The refund policy at ISB Hyderabad quotes that a student can withdraw for either academic, personal or administrative reasons on a pro-rated basis for only the remaining terms to the extent that the student has paid for those terms in advance. There will be no refund for the terms which have already commenced or have been completed.