Section 8 in Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
8. Procedure where registration is refuse.
(1)After considering an application made under regulation 3, if the Board is of the opinion that a certificate should not be granted to the [trust] [Substituted 'applicant' by Notification No. SEBI/LAD-NRO/GN/2018/07, dated 10.4.2018 (w.e.f. 26.9.2014).], it may reject the application after giving the [trust] [Substituted 'applicant' by Notification No. SEBI/LAD-NRO/GN/2018/07, dated 10.4.2018 (w.e.f. 26.9.2014).] a reasonable opportunity of being heard.(2)The decision of the Board to reject the application shall be communicated to the [trust] [Substituted 'applicant' by Notification No. SEBI/LAD-NRO/GN/2018/07, dated 10.4.2018 (w.e.f. 26.9.2014).] within thirty days of such decision.
