Right of appeal against refusal of stock exchanges to list securities of public companies.

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..... e-laws, refuses to list the securities of any public company 3 [or collective investment scheme], the company 4 [or scheme] shall be entitled to be furnished with reasons for such refusal, and may,- (a) within fifteen days from the date on which the reasons for such refusal are furnished to it, or (b) where the stock exchange has omitted or failed to dispose of, within the time specifi .....

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..... fied time, grant or refuse the permission, and where the Central Government sets aside the decision of the recognised stock exchange or grants the permission, the stock exchange shall act in conformity with the orders of the Central Government]: 5 [ Provided that no appeal shall be preferred against refusal, omission or failure, as the case may be, under this section on and after the commence .....

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