SEBI/HO/CFD/PoD -1/P/CIR/2023/157 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

MASTER CIRCULAR SEBI/HO/CFD/PoD -1/P/CIR/2023/157 September 26, 2023 To Registered Merchant Bankers Dear Sir / Madam, Subject: Master Circular for Merchant Bankers Registered with SEBI The Securities and Exchange Board of India ("SEBI" or "the Board") has been, from time to time, issuing various circulars/directions to Merchant Bankers under the relevant provisions of the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 ("Merchant Bankers Regulations 1992") and extant securities laws. In order to enable the stakeholders to have access to all such circulars at one place, this Master Circular in respect of Merchant Bankers has been prepared. With the issuance of this Master Circular, all directions/instructions contained in the circulars listed out in the Appendix to this Master Circular shall stand rescinded to the extent they relate to the Merchant Bankers. Notwithstanding such rescission, - (a) anything done or any action taken or purported to have been done or taken under the rescinded circulars, prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master Circular; and (b) any application made to the Board under the rescinded circulars, prior to such rescission, and pending before it shall be deemed to have been made under the corresponding provisions of this Master Circular. This Master Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 ("SEBI Act"). This Master Circular is available on the website of SEBI at www.sebi.gov.in . Yours faithfully, Yogita Jadhav General Manager Division of Policy and Development Corporation Finance Department Phone + 91 -022 -26449583 Email: yogitag@sebi.gov.in Table of Cont