Rights issue eligibility barred when issuer breaches listing or deposit agreement obligations or has a fugitive economic offender promoter. Regulation 213 disqualifies an issuer from making a rights issue of IDRs if, at the time of the rights issue, the issuer is in breach of ongoing material obligations under the listing agreement and the SEBI Listing Obligations and Disclosure Requirements Regulations or of material obligations under the deposit agreement with the domestic depository at initial offering, or if any promoter or director is a fugitive economic offender.