GENERAL OBLIGATIONS AND RESPONSIBILITIES OF DESIGNATED DEPOSITORY PARTICIPANTSSecurities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
GENERAL OBLIGATIONS AND RESPONSIBILITIES OF DESIGNATED DEPOSITORY PARTICIPANTSSecurities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
Rejection of approval: applicant entitled to written grounds and 30 day reconsideration request following a hearing. If an application for approval does not meet the requirements, the Board may reject it after giving the applicant a reasonable opportunity of being heard; ... Summary
Rejection of approval: applicant entitled to written grounds and 30 day reconsideration request following a hearing.
If an application for approval does not meet the requirements, the Board may reject it after giving the applicant a reasonable opportunity of being heard; the Board must communicate the rejection in writing with stated grounds. An aggrieved applicant may apply for reconsideration within thirty days; the Board must consider submissions, grant a reasonable opportunity of being heard, and communicate its decision in writing promptly.
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