Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
The Master Circular consolidates and updates the regulatory framework for SEBI-registered merchant bankers, rescinding listed earlier circulars while preserving prior actions, rights, liabilities, penalties and pending applications. It requires portal-based registration and regulatory requests, prior approval for changes in control, and fresh registration for specified business transfers. It prescribes phased capital adequacy and liquid net worth compliance, professional certification, an independent compliance officer, and relevant experience for principal officers. Merchant bankers must submit half-yearly compliance reports, disclose issue track records and investor complaints, maintain investor charters, protect critical data, restrict outsourcing of core activities, manage conflicts of interest, and segregate non-SEBI-regulated activities through separate business units.
The Master Circular consolidates and updates the regulatory framework for SEBI-registered merchant bankers, rescinding listed earlier circulars while preserving prior actions, rights, liabilities, penalties and pending applications. It requires portal-based registration and regulatory requests, prior approval for changes in control, and fresh registration for specified business transfers. It prescribes phased capital adequacy and liquid net worth compliance, professional certification, an independent compliance officer, and relevant experience for principal officers. Merchant bankers must submit half-yearly compliance reports, disclose issue track records and investor complaints, maintain investor charters, protect critical data, restrict outsourcing of core activities, manage conflicts of interest, and segregate non-SEBI-regulated activities through separate business units.
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