Securities And Exchange Board Of India - Subsection
Section 21(1) in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
(1)No person resident in India shall at any time, directly or indirectly, either individually or together with persons acting in concert, acquire or hold more than five percent of the paid up equity share capital in a Depository:Provided that, -(i)a stock exchange;(ii)a depository;(iii)a banking company;(iv)an insurance company; and(v)a public financial institution, may acquire or hold, either directly or indirectly, either individually or together with persons acting in concert, upto fifteen percent of the paid up equity share capital of a Depository.
