Securities And Exchange Board Of India - Subsection
Section 4(d) in Securities And Exchange Board Of India (Venture Capital Funds) Regulations, 1996
(d)[ if the application is made by a body corporate: [Inserted by S.O. 1118(E), dated 17.11.1999](i)it is set up or established under the laws of the Central or State Legislature.(ii)the applicant is permitted to carry on the activities of a venture capital fund.(iii)the applicant is a fit and proper person.(iv)the directors or the trustees, as the case may be, of such body corporate have not been convicted of any offence involving moral turpitude or of any economic offence.(v)the directors or the trustees, as the case may be, of such body corporate, if any, are not involved in any litigation connected with the securities market which may have an adverse bearing on the business of the applicant.]
