Eligibility Criteria.

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....randum of association as has its main objective, the carrying on of the activity of a venture capital fund; (ii) it is prohibited by its memorandum and articles of association from making an invitation to the public to subscribe to its securities; (iii) its director or principal officer or employee is not involved in any litigation connected with the securities market which may have an adverse b....

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.... any time, been convicted of any offence involving moral turpitude or of any economic offence; 2[(v)the applicant is a fit and proper person;] 3[(c) if the application is made by a body corporate- (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....