Section 102 in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
102. Entities not eligible to make a further public offer.
- An issuer shall not be eligible to make a further public offer:(a)if the issuer, any of its promoters, promoter group or directors, selling shareholders are debarred from accessing the capital market by the Board;(b)if any of the promoters or directors of the issuer is a promoter or director of any other company which is debarred from accessing the capital market by the Board;(c)if the issuer or any of its promoters or directors is a wilful defaulter ;(d)if any of its promoters or directors is a fugitive economic offender.Explanation: The restrictions under (a) and (b) above shall not apply to the persons or entities mentioned therein, who were debarred in the past by the Board and the period of debarment is already over as on the date of filing of the draft offer document with the Board.
