Entities not eligible to make an initial public offer

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..... y of its 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 fraudulent .....

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..... red herring prospectus (in case of book-built issues) or the prospectus (in case of fixed price issues), as the case may be.] Explanation: The restrictions under clauses (a) and (b) shall not apply to the persons or entities mentioned therein, who were debarred in the past by the Board and the period of debarment is already over as on the date of filing of the draft offer document with the SME E .....

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