Hi Tushar!

Refunds are available to those candidates who don't want a seat after the second round of counselling. The student must report at the allotted college and inform the authorities that he/she does not want admission in the college. 

The refund will be credited to the college in which the student was allotted a seat. Thereafter, the institute will transfer the same amount to the account that was used to pay the counselling fee. 

MCI will release official e-mail and toll free number for students too. Last year, the refund process was completed by 15th October.

Hope this helps!