Effect of refusal to grant certificate of permanent registration

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Full Text of the Document

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....and from the date of receipt of the communication, shall not carry on any activity as a merchant banker: Provided that the Board may, in the interest of investors in the securities market, permit the merchant banker to carry on activities undertaken prior to the receipt of the intimation of refusal subject to such condition as the Board may specify.] ************* NOTES:- 1 Omitted by the Sec....