Section 201(2) in Insolvency And Bankruptcy Code, 2016
(2)On receipt of the application under sub-section (1), the Board may, on being satisfied that the application conforms with all requirements specified under sub-section (1), grant a certificate of registration to the applicant or else, reject, by order, such application:Provided that no order rejecting the application shall be made without giving an opportunity of being heard to the applicant:Provided further that every order so made shall be communicated to the applicant within a period of fifteen days.
