Regulation 22 - Cancellation of certificate. - Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations 2000

Cancellation of certificate. 22. The Board may cancel the certificate granted to a Foreign Venture Capital Investor: - (a) when the Foreign Venture Capital Investor is guilty of fraud or has been convicted of an offence involving moral turpitude; Explanation.─ The expression fraud has the same meaning as is assigned to it in section 17 of the Indian Contract Act, 1872. (9 of 1872); (b) the Foreign Venture Capital Investor has been guilty of repeated defaults of the nature mentioned in the regulation 21; or (c) Foreign Venture Capital Investor does not continue to meet the eligibility criteria laid down in these regulations; (d) contravenes any of the provisions of the Act or these regulations.