Rejecting band what will be the next process? Also doubt regarding release from the project.

What is the next procedure if I reject my band? Will my manager schedule a meeting or performance management?

I have received a C band. Can I use this to request a release from the project? Will that work?

I have completed 15 months in TCS, and I feel there's no point in continuing with this project. I believe the manager will give me the same band next year as well.