RUW CIRCULAR NO.1 (2002-2003)

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....n under the said Regulations, is required to consider interalia whether a person directly or indirectly connected with the applicant has not been granted registration by SEBI. It is clarified that while considering this aspect, the Board may consider grant of certificate to an applicant, notwithstanding that another entity in the same group has been previously granted registration by the Board, i....

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....s against other entities of the same group registered in terms of the said Regulations. Explanation: For the purposes of this circular, two entities are considered to be in the same group if: * the same person, by himself or in combination with relatives, directly or indirectly exercises control over both the entities or, * they are under the same management within the meaning of section 370(....