Section 6 in Securities And Exchange Board Of India (Venture Capital Funds) Regulations, 1996
6. Consideration of application.-
An application which is not complete in all respects shall be rejected by the Board:Provided that, before rejecting any such application, the applicant shall be given an opportunity to remove, within thirty days of the date of receipt of communication, the objections indicated by the Board:Provided further that the Board may, on being satisfied that it is necessary to extend the period specified in the first proviso, extend such period by such further time not exceeding ninety days.
