Incomplete Foreign Portfolio Investor Applications Can Be Rejected, But Applicants Get a Chance to Rectify Under SEBI Regulations 2019.
An application for a certificate of registration as a foreign portfolio investor under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, must be complete and truthful. If deemed deficient, it can be rejected by the designated depository participant, but the applicant must first be given an opportunity to rectify deficiencies. If rejected, the applicant can appeal to the Board within thirty days, unless the rejection was due to technical issues like incomplete information or unpaid fees. The Board will review the appeal and communicate its decision in writing after considering the applicant's submissions.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.
TaxTMI 
of 
https://www.taxtmi.com/ac...
TaxTMI 
