Section 3(2) in Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016
(2)No person shall at any time, directly or indirectly, either individually or together with persons acting in concert, acquire or hold more than five per cent. of the paid-up equity share capital in an insolvency professional agency:Provided that-(i)a stock exchange;(ii)a depository;(iii)a banking company;(iv)an insurance company;(v)a public financial institution; and(vi)a multilateral financial institution,may, acquire or hold, directly or indirectly, either individually or together with persons acting in concert, up to fifteen per cent. of the paid-up equity share capital of an insolvency professional agency:Provided further that-(i)the Central Government;(ii)a State Government; and(iii)a statutory regulator,may, acquire or hold, directly or indirectly, up to hundred per cent. of the paid-up equity share capital of an insolvency professional agency.]
