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General obligations of the merchant banker.

..... ON OF SHARES AND TAKEOVERS) REGULATIONS, 1997 - Regulation 24 - 24. (1) Before the public announcement of offer is made, the merchant banker shall ensure that- (a) the acquirer is able to implement the offer; (b) the provision relating to escrow account referred to in regulation 28 has been made; (c) firm arrangements for funds and money for payment through verifiable means to fulfil the obligatio .....

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..... , quoting the source wherever necessary. (5) The merchant banker shall ensure compliance of the regulations and any other laws or rules as may be applicable in this regard. 3[(5A) The merchant banker shall not deal in the shares of the target company during the period commencing from the date of his appointment in terms of regulation 13 till the expiry of the fifteen days from the date of closure .....

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