(a) approves without any modification the proposal received under sub- sections (2) to (4), it shall communicate the same to the Central Government;

(b) approves with modifications the proposal received under sub- sections (2) to (4), it shall, communicate such modifications to the person or the State Government concerned and if such modifications have been accepted by such person or State Government, the Board shall communicate the approval to the Central Government;

(c) rejects the proposal received under sub- sections (2) to (4), it shall record the reasons therefor and communicate the rejection to the Central Government which shall intimate to the State Government or the person concerned.