Section 24

Section 24 governs the Controller's decision on a CA licence application. It is a short provision with significant procedural content. The Controller has two options: grant the licence, or reject the application. In exercising this discretion, the Controller must consider the documents accompanying the application (as specified under Section 22) and 'such other factors as he deems fit' — a broad discretion allowing the Controller to consider technical capability, financial stability, governance arrangements, and any security concerns about the applicant. The proviso contains the critical procedural safeguard: the Controller may not reject an application without first giving the applicant an opportunity to show cause against the proposed rejection. This is a statutory codification of natural justice — an applicant who has invested significantly in meeting the technical requirements for a CA licence has a legitimate expectation of a fair hearing before rejection. The show cause requirement prevents arbitrary rejections and forces the Controller to articulate reasons for proposed rejection, which the applicant can then address. The combination of broad 'other factors' discretion with a mandatory show cause opportunity creates a balanced licensing regime: the Controller has genuine discretion to assess suitability, but must exercise that discretion fairly. Rejected applicants may challenge the Controller's decision before the Appellate Tribunal under Section 57.