Office Memorandum No. 892/2025/YSASD of the Youth Services and Sports Department, Government of Tamil Nadu dated 26th August, 2025 on the business of a merchant banker [C14-BM8]
As at 7 September 2026. In force. No commencement recorded.
No. 892/2025/YSASD
GOVERNMENT OF TAMIL NADU
Youth Services and Sports Department, Government of Tamil Nadu
Chennai, dated the 26th August, 2025
OFFICE MEMORANDUM
Subject: The business of a merchant banker by merchant bankers under the Tamil Nadu Protection of Interests of Depositors Act, 1997, regarding.
1. The undersigned is directed to say that references have been received in the Youth Services and Sports Department, Government of Tamil Nadu on the manner in which the business of a merchant banker by merchant bankers is to be regulated under the Tamil Nadu Protection of Interests of Depositors Act, 1997.
2. The matter has been examined. Every merchant banker carrying on the business of a merchant banker shall make an application in Form E to the Investor Protection Fund Trust within forty-five days, accompanied by a fee of ten thousand rupees.
3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of a merchant banker is undertaken, and the Investor Protection Fund Trust shall dispose of it within forty-five days of its receipt.
4. Difficulties, if any, in the implementation of this office memorandum may be brought to the notice of the Youth Services and Sports Department, Government of Tamil Nadu.
(Secretary to Government)
Made under
No enabling provision stated.
Acts on (0)
none
Acted on by (0)
none
Not held (0)
none