Eligibility for acquiring or holding shares in a depository

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..... unless he is a fit and proper person. (2) Any person who, directly or indirectly, either individually or together with persons acting in concert, acquires equity shares such that his shareholding exceeds two percent. of the paid up equity share capital of a depository, shall seek approval of the Board within fifteen days of the acquisition. (3) Any person holding more than two per cent. of .....

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..... n a depository shall not exceed the limits specified in these regulations at any point of time. (7) For determining the shareholding of any person in a depository as specified in these regulations, any instrument held, owned or controlled, directly or indirectly, by him that entitles him the voting rights or provides for entitlement to voting rights or equity shares or any other rights over equ .....

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