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    <title>Procedure where certificate of commencement of business is not granted.</title>
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    <description>Regulation 15 directs that after considering regulation 13 matters and completing physical verification, the Board may either require the depository to conform to regulation 13 or reject the application after giving the applicant an opportunity of being heard; any rejection must be communicated in writing with stated grounds within the prescribed period.</description>
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      <description>Regulation 15 directs that after considering regulation 13 matters and completing physical verification, the Board may either require the depository to conform to regulation 13 or reject the application after giving the applicant an opportunity of being heard; any rejection must be communicated in writing with stated grounds within the prescribed period.</description>
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