Securities And Exchange Board Of India - Subsection
Section 7(ii) in The Securities And Exchange Board Of India (Depositories And Participants) Regulations, 1996
(ii)the expression "persons acting in concert" shall have the meaning derived from clause (e) of subregulation (1) of regulation 2 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997;(eb)The combined holding of all persons resident outside India in the equity share capital of the depository shall not exceed, at any time, forty-nine per cent. of its total equity share capital, subject further to the following:
