Conditions for registration

Before registering and granting a certificate of registration to a promoter or, an estate agent under the provisions of section 78a, the Director shall satisfy itself, (a) in the case, if the application is for registration as a promoter, that the promoter himself or one of his employees, or one of the partners of the firm or one of the directors of the company if the applicant is a firm or company, as the case may be, possesses the prescribed qualifications for conducting the business of a promoter; (b) in the case, if the application is for registration as an estate agent, that the applicant possesses qualifications as may be prescribed; (c) that the applicant furnishes to the Director, either a bank guarantee or a security, for such amount and in such manner as may be prescribed; (d) that the person has furnished the statement of affairs clearly indicating the detailed assets and liabilities; (e) in case of a company, the applicant has furnished a certificate of registration of incorporation with the Registrar of Companies; (f) in case of a firm, certificate of registration under the Partnership Act, 1932 from the competent authority; (g) that the applicant has produced an attested copy of PAN alongwith Income Tax returns of last 3 years; (h) that the applicant has furnished the details of previous projects executed during the last 5 years alongwith their completion certificate; and (i) that the applicant has not been convicted of an offence under this Act or under any law involving moral turpitude.