Framework for the process of accreditation of investors for the purpose of Innovators Growth Platform

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.... ("IGP"), are investors whose holding in the Issuer Company, is eligible for the computation of at least 25% of the pre-issue capital in accordance with Regulation 283.(1) of the SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018 ("ICDR Regulations"). 2. Accordingly, the framework for the process of accreditation of investors is detailed below: A. Eligibility The following entities shall be eligible to be considered as AIs: i. Any individual with total gross income of Rs. 50 lakhs annually and who has minimum liquid net worth of Rs. 5 crores; or ii. Any body corporate with net worth of Rs. 25 crores. B. Procedure for accreditation (a) Responsibility of Stock Exchanges/Depositories The inv....

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....to SEBI, the status of the implementation of the provisions of this circular. 6. Exchanges/Depositories are advised to make necessary amendments to the relevant bye-laws, rules and regulations. 7. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, Narendra Rawat General Manager Corporation Finance Department [email protected]   Annexure-A For accreditation as an Accredited Investor for the purpose of Innovators Growth Platform, the investor having a demat account with a Deposito....

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....l defaulter as defined under Regulation 2(1)(III) of SEBI (ICDR) Regulations, 2018. (ii) he/she/it, is not a fugitive economic offender as defined under Regulation 2(1)(p) of SEBI (ICDR) Regulations, 2018. (iii) he/she/it, is not in violation of Regulation 24 of SEBI (Delisting of Equity Shares) Regulation, 2009. (iv) he/she/it, is not in violation of the restrictions imposed by SEBI under SEBI circular no. SEBI/HO/ MRD/DSA/CIR/P/2017/92 dated August 01, 2017. (v) he/she/it, is in compliance with RBI regulations, if applicable. (vi) that the investment in the Companies are in compliance with RBI norms, if applicable. (vii) that the submissions made to the Exchange/Depository are true and....