Entities not eligible to make an initial public offer

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.... promoters, promoter group or directors or 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 ^1[wilful defaulter or a frau....

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....e stock option scheme in compliance with the Companies Act, 2013, the relevant Guidance Note or accounting standards, if any, issued by the Institute of Chartered Accountants of India or pursuant to the Companies Act, 2013, in this regard; ^2[(b) outstanding stock appreciation rights granted to employees pursuant to a stock appreciation right scheme, which are fully exercised for equity s....