Merchant banker not to associate with any business other than that of the securities market

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....ial Institution, who has been granted a certificate of registration under these regulations shall 3[after June 30, 1998] carry on any business other than that in the securities market. Notwithstanding anything contained above, a merchant banker who prior to the date of notification of the Securities and Exchange Board of India (Merchant Bankers) Amendment Regulations, 1997, has entered into a con....

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.... Act, 1949 (10 of 1949), and the corresponding new bank set up under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970 (5 of 1970), and the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1980 (40 of 1980), State Bank of India Act, 1955 (23 of 1955) and State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959). (ii) A "public financial institution" sh....

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....13A was inserted by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1999 w.e.f, 17.11.1999. 5 Proviso to regulation 13A was inserted by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2010 w.e.f, 13.04.2010. 6. Substituted vide F. No. SEBI/LAD-NRO/GN/2024/214 dated 29-11-2024 before it was read as, "he" ....