Section 8 in Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014
8. Procedure where registration is refused.
(1)After considering an [trust] [Substituted 'applicant' by Notification No. SEBI/LAD-NRO/GN/2018/06, dated 10.4.2018 (w.e.f. 29.9.2014).] made under regulation 3, if the Board is of the opinion that a certificate should not be granted to the applicant, it may reject the application after giving the applicant a reasonable opportunity of being heard.(2)The decision of the Board to reject the application shall be communicated to the applicant within thirty days of such decision.
