Amendment status not verified — confirm the current text below against the official source.
(1) Any entrepreneur who fails to comply with the conditions or undertakings as per declaration submitted to the given Agency or furnishes false information the application shall be liable to be rejected and such entrepreneur shall be required to apply afresh with necessary documents. (2) A lump sum penalty may be imposed against an official who fails to provide approval or disposal of the application without any genuine reason within prescribed time limit, which shall not be less than one thousand rupees and may extend up to five thousand rupees.