Securities And Exchange Board Of India - Subsection
Section 12(2) in Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
(2)An applicant referred to in sub-regulation (2) of regulation 3, whose application for the grant of a certificate has been rejected by the Board under regulation 11, shall, on and from the date of the receipt of the communication under sub-regulation (2) of regulation 11, cease to carry on any rating activity.
