Registration of insolvency professional agency.

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....hat every application received by the Board shall be acknowledged within seven days of its receipt. (2) On receipt of the application under sub-section (1), the Board may, on being satisfied that the application conforms with all requirements specified under sub-section (1), grant a certificate of registration to the applicant or else, reject, by order, such application: Provided that no order r....

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.... (b) that it has failed to comply with the requirements of the regulations made by the Board or bye-laws made by the insolvency professional agency; (c) that it has contravened any of the provisions of the Act or the rules or the regulations made thereunder; (d) on any other ground as may be specified by regulations: Provided that no order shall be made under this sub-section unless the ins....