Sub-section (2) of the Banking Regulation Act, 1949, says that no banking shall hold shares in any company, whether as pledgee, mortgagee, or absolute owner, of an amount exceeding 30 percent of the paid-up share capital of that company or thirty percent of its own paid-up share capital and reserves.
source https://www.caclubindia.com/articles/how-differently-violation-of-192-banking-regulation-act-treated-by-rbi-46316.asp
source https://www.caclubindia.com/articles/how-differently-violation-of-192-banking-regulation-act-treated-by-rbi-46316.asp
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