Regulation 5, IBBI (Inspection of Foreign companies) Regulations, 2022 [SEC-5WF]

Refusal of registration.—Where the Insolvency and Bankruptcy Board is not satisfied that an application made in Form ADT-1 is complete or that the fee of two thousand rupees has been paid, it shall record its reasons in writing, shall communicate the order of refusal to the applicant in Form INC-22 within ninety days of the order together with a statement of the grounds on which it is made, and shall return with the order every document furnished with the application; and the applicant may make a fresh application at any time after forty-five days from the communication.