Eligibility for acquiring or holding shares in a depository

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....ts of a depository unless he is a fit and proper person. (2) Any person who, directly or indirectly, either individually or together with persons acting in concert, acquires equity shares such that his shareholding exceeds two percent. of the paid up equity share capital of a depository, shall seek approval of the Board within fifteen days of the acquisition. (3) Any person holding more than....