Procedure for approval under Paragraph (1)(z)(i) and (ii) of Schedule XV to the Act

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....Fund under paragraph 1(z)(ii), of the said Schedule shall satisfy itself that for the entity mentioned in column B in the following Table, the application is made in the Form specified in column C with documents as mentioned in column D attached alongwith, and the application is filed within the time limit prescribed in column E thereof: Table SI.No Entity Application Form Documents....

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....year in which the application is made, or for the period of its existence, whichever is lesser. Three months before the public issue. (2) The Board shall pass an order approving or denying the application, but any decision denying approval shall not be made without providing the applicant a reasonable opportunity of being heard. (3) Every applicant shall invest all its total paid-up capit....