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of <h1>SEBI Amends Depositories Regulations: Sponsors Must Hold 51% Share Capital to Meet Obligations.</h1> The Securities and Exchange Board of India (SEBI) issued an amendment to the Depositories and Participants Regulations, 1996, effective upon publication in the Official Gazette. This amendment, dated December 26, 2000, defines a sponsor as any individual or group holding at least 51% of a depository's share capital and committed to fulfilling regulatory obligations. The principal regulations were initially published in 1996 and have undergone several amendments in subsequent years, including changes in 1997, 1998, and 1999, to ensure compliance and clarity in the functioning of depositories and participants.
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