Rejection of incomplete applications permitted, but applicants must be given time to remedy specified objections before denial. Regulation 5 provides that applications for registration as debenture trustees that are incomplete or do not conform to form instructions shall be ... Summary
Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993
Rejection of incomplete applications permitted, but applicants must be given time to remedy specified objections before denial.
Regulation 5 provides that applications for registration as debenture trustees that are incomplete or do not conform to form instructions shall be rejected, subject to sub regulation (2) of regulation 3; however, the Board must indicate objections and give the applicant an opportunity to remove them within a specified time before rejecting the application.
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