Technology Development Board Act, 1995
7. Application for grant of financial assistance etc.
An application for grant of financial assistance for the purposes mentioned under section 6 shall be made to the Board in such form as may be prescribed.
The Board may, after examining the application and after making such enquiries as it deems necessary by order, in writing, either grant the financial assistance or refuse to grant the same:
Provided that no refusal of grant shall be made unless an opportunity is given to the applicant of being heard.