Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Merchant banker permitted activities require separate business units, arms-length operations, net-worth ring-fencing, and valuation assignment transition.
Registered merchant bankers may undertake specified securities-market activities, including issue and transaction management, underwriting, private placements, international offerings, alternative investment fund placement memorandum filings, fairness opinions, secondary-market transactions and market making. Other regulated or eligible fee-based, non-fund financial-services activities must be conducted on an arms-length basis through separate business units, subject to applicable registration and regulatory requirements. Prescribed net worth must be ring-fenced from adverse effects of such additional activities, while unregistered valuation-related assignments are subject to transition requirements.
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