Section 5 in Securities and Exchange Board of India (Underwriters) Regulations, 1993
5. Application to conform to the requirements:-
Subject to the provisions of sub-regulation (2) of regulation 3A, any application, which is not complete in all respects and does not conform to the instructions specified in the form, shall be rejected:Provided that, before rejecting any such application, the applicant shall be given an opportunity to remove within the time specified such objections as may be indicated by the Board.Provided further that the Board may, on sufficient reasons being shown extend the time by another one month in order to enable the applicant to comply with the requirements of the Board.
