Grant of in-principle approval.

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..... in- principle approval, demonstrating that the conditions in sub-regulation (2) are satisfied, along with a non- refundable application fee of ten lakh rupees. (2) If the Board is satisfied, after such inspection or inquiry as it deems necessary, that: (a) the applicant is a fit and proper person; and (b) the proposed or existing company which may receive registration would be able to me .....

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