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of <h1>SEBI to Reject Registration Applications Not Meeting Regulation 7 Criteria; Applicants Must be Heard First.</h1> If an application for a certificate of registration under regulation 3 fails to meet the criteria in regulation 7, the Securities and Exchange Board of India (SEBI) will reject it. Before doing so, SEBI must provide the applicant an opportunity to be heard. The decision to reject must be communicated in writing within thirty days, including the reasons for rejection, as per the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996.
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