Consideration of application for grant of provisional registration

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Full Text of the Document

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....ation shall satisfy the Board that- (a) the 1[collective investment scheme]s of the applicant are in the nature of collective investment schemes; (b) the affairs of the applicant are not being conducted in a manner detrimental to the interest of existing investors; (c) the applicant has at least 50% independent directors at the time of making the application. Explanation :- "Independent di....