Securities And Exchange Board Of India - Subsection
Section 8(1) in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
(1)An application for grant of certificate of registration to act as a foreign portfolio investor, which is not complete in all respects or is false or misleading in any material particular or does not satisfy the requirements specified in these regulations shall be deemed to be deficient and liable to be rejected by the designated depository participant:Provided that before rejecting any such application, the applicant shall be given a reasonable opportunity of being heard and to remove the deficiency, within the time as specified by the designated depository participant.
