Merchant banker not to act as such in an issue where shares are held by its key managerial personnel or their relatives

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....ir relatives. 21C. A merchant banker shall not lead manage any public issue, if its directors, other key managerial personnel, compliance officer, employees referred to in clause (b) of Regulation 6, or relative(s) of the said persons, individually or in aggregate hold more than 0.1% of the paid up share capital or shares whose nominal value is more than 10,00,000 rupees, whichever is lower in ....