Market making and underwriting obligations expanded for merchant bankers; minimum underwriting share required and quarterly reporting mandated. The amendments permit a registered merchant banker to undertake market making under Chapter XA of the Issue of Capital and Disclosure Requirements, require merchant bankers, alone or jointly, to underwrite a minimum portion of any issue made under Chapter XA, and mandate quarterly submission to the Board of complete particulars of securities acquisitions made pursuant to underwriting or market making obligations under Chapter XA.
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Provisions expressly mentioned in the judgment/order text.
Market making and underwriting obligations expanded for merchant bankers; minimum underwriting share required and quarterly reporting mandated.
The amendments permit a registered merchant banker to undertake market making under Chapter XA of the Issue of Capital and Disclosure Requirements, require merchant bankers, alone or jointly, to underwrite a minimum portion of any issue made under Chapter XA, and mandate quarterly submission to the Board of complete particulars of securities acquisitions made pursuant to underwriting or market making obligations under Chapter XA.
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