INDIA CODE

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Bye-law 12, Securities and Exchange Board of India (Licensing of The business of a merchant banker) Bye-laws, 2017 [SBS-2N2]

As at 7 September 2026. In force from 1 December 2017.

In Securities and Exchange Board of India (Licensing of The business of a merchant banker) Bye-laws, 2017 [R1J-5EB]. This text from 1 December 2017. No other text held.

Synthetic. This instrument, its title, its number and the words of this section are generated by the register.

Cite: Bye-law 12, Securities and Exchange Board of India (Licensing of The business of a merchant banker) Bye-laws, 2017 [SBS-2N2]. Machine: SBS-2N2.

Refusal of registration.—Where the Depository is not satisfied that an application made in Form C is complete or that the fee of fifty thousand rupees has been paid, it shall record its reasons in writing, shall communicate the order of refusal to the applicant in Form D within ten days of the order together with a statement of the grounds on which it is made, and shall return with the order every document furnished with the application; and the applicant may make a fresh application at any time after seven days from the communication.

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Bye-law 12, Securities and Exchange Board of India (Licensing of The business of a merchant banker) Bye-laws, 2017 [SBS-2N2]