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Securities And Exchange Board Of India - Section
Section 18 in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
18. [ [Omitted by SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 w.e.f. 26.08.2009.]
***.]| 18. Appointment of lead merchant bankers.-(1) All issues should be managed by atleast one merchant banker functioning as the lead merchant banker:Provided that, in an issue of offer of rights to the existing members with or without the right of renunciation the amount of the issue of the body corporate does not exceed rupees fifty lakhs, the appointment of a lead merchant banker shall not be essential.(2) Every lead merchant banker shall before taking up the assignment relating to an issue, enter into an agreement with such body corporate setting out their mutual rights, liabilities and obligations relating to such issue and in particular to disclosures, allotment and refund. |