Ineligibility for raising of funds: Social enterprises barred from exchange fundraising if linked to debarred or fraudulent persons. Social enterprises are ineligible to register with or raise funds through a Social Stock Exchange or Stock Exchange if the enterprise itself or its promoters, promoter group, directors, selling shareholders or trustees are debarred from the securities market, are promoters/directors of an entity debarred by the Board, are willful defaulters, fraudulent borrowers, fugitive economic offenders, or have been debarred by ministries or other statutory bodies; prior Board debarments that have expired by the filing date do not disqualify.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Ineligibility for raising of funds: Social enterprises barred from exchange fundraising if linked to debarred or fraudulent persons.
Social enterprises are ineligible to register with or raise funds through a Social Stock Exchange or Stock Exchange if the enterprise itself or its promoters, promoter group, directors, selling shareholders or trustees are debarred from the securities market, are promoters/directors of an entity debarred by the Board, are willful defaulters, fraudulent borrowers, fugitive economic offenders, or have been debarred by ministries or other statutory bodies; prior Board debarments that have expired by the filing date do not disqualify.
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