Regulation - 4, Application for registration or renewal thereof.

4. (1) A company eligible forregistration as an insolvency professional agency, may make an application to the Board in Form Aof the Schedule to these Regulations, along with a non-refundable application fee of ten lakh rupees.

(2) An insolvency professional agency who has been grantedregistration under Regulation 5, may six months before the expiry of such registration, make anapplication for renewal in Form A of the Schedule to these Regulations, along with a non-refundable application fee of five lakh rupees.

(3) The Board shall acknowledge an application made under this Regulation within seven days of its receipt.

(4) The Board shall examine the application, and give an opportunity to the applicant to remove the deficiencies, if any, in the application.

(5) The Board may require the applicant to submit, within reasonable time, additional documents, information or clarification that it deems fit.

(6) The Board may require the applicant to appear, within reasonable time, before the Board in person, or through itsauthorised representative for clarifications required for processing the application.