Securities And Exchange Board Of India - Subsection
Section 11(1) in Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
(1)If, after considering an application made under regulation 3 or [regulation 8A] [Substituted 'regulation 10' by Notification No. F.No LAD-NRO/GN/2011-12/10/21232. dated 5.7.2011 (w.e.f. 7.7.1999)] as the case may be, the Board is of the opinion that a certificate [of initial or permanent registration should not be granted] [Substituted 'should not be granted or renewed' by Notification No. F.No LAD-NRO/GN/2011-12/10/21232. dated 5.7.2011 (w.e.f. 7.7.1999)], as the case may be, it may, after giving the applicant a reasonable opportunity of being heard, reject the application.
