Consideration of application

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....the Reserve Bank of India, (ii) a One Person Company as defined under the Companies Act, 2013 (18 of 2013), and (iii) a non-banking financial company as defined under clause (f) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934), as amended from time to time:] ^2[Provided that the merchant banker who has been granted registration by the Reserve Bank of India to act as a primary or satellite dealer may carry on such activity subject to the condition that it shall not accept or hold public deposit;] ^3[(aa)] the applicant has the necessary infrastructure like adequate office space, equipments, and manpower to effectively discharge ^10[its] activities; ^8[(b) the applicant has in its....

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....ectly connected" with reference to any person means an associate or subsidiary or inter-connected or group company of the applicant, in case of the applicant being a body corporate; (ii) the certificate of registration granted to a merchant banker connected directly or indirectly with another merchant banker prior to the commencement of the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2025 shall continue to be valid.]     ************** NOTES:- 1. Clause (a) to regulation 6 was inserted by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1997 w.e.f., 09.12.1997. 2. Proviso to clause (a) to regulation 6 was inserted by the S....

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....ublication in the Official Gazette) before it was read as, "to" 12.  Substituted vide F. No. SEBI/LAD-NRO/GN/2025/282 dated 03-12-2025 (shall come into force on the thirtieth day from the date of their publication in the Official Gazette) before it was read as,  "^1[(a) the applicant shall be a body corporate other than a non-banking financial company as defined under clause (f) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934), as amended from time to time :]" 13.  Inserted vide F. No. SEBI/LAD-NRO/GN/2025/282 dated 03-12-2025 (shall come into force on the thirtieth day from the date of their publication in the Official Gazette) 14.  Omitted vide F. No. SEB....