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BUSINESS LINE: India: SEBI clarification on PDs' registration .
Anindita Dey
MUMBAI, March 28
CATEGORY-I merchant bankers registered with the Securities and Exchange Board of India can also start primary dealership provided they are registered as PDs with the Reserve Bank of India, SEBI has clarified. SEBI has issued a notification clarifying that merchant bankers can have an additional registration with the RBI along with SEBI in order to take up the specific fund-based activity of primary dealership. The issue of dual registration came up when seven companies were given 'in principle' approval for primary dealership. Two of these companies - DSP Merrill Ltd and Kotak Mahindra Capital Company - are category I merchant …
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