Section 7 in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
7. [ Capital Adequacy Requirement.- [Substituted by S.O. 837(E), dated 9.12.1997]
(1)The capital adequacy requirement referred to in clause (d) of regulation 6 shall be a net worth of not less than five crores rupees.] [Inserted by S.O. 837(7), dated 9.12.1997]Explanation:- For the purposes of this regulation "networth" means the sum of paid up capital and free reserves of the applicant at the time of making application under sub-regulation (1) of regulation 3].
