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Eligibility Criteria.

grant of a certificate by the Board the applicant shall have to fulfill in particular the following conditions, namely:- (a) if the application is made by a company :- (i) memorandum 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 subsc .....

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th the securities market which may have an adverse bearing on the business of the applicant; (iv) the directors of its trustee company, if any, or a trustee has not at 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 unde .....

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l Funds) Amendment Regulations, 1998, w.e.f. 05-01-1998. 2. Inserted by the SEBI (Venture Capital Funds) Amendment Regulations, 1998, w.e.f. 05-01-1998. 3. Inserted by the SEBI (Venture Capital Funds) (Amendment) Regulations, 1999, w.e.f. 17-11-1999. 4. Renumbered by the SEBI (Venture Capital Funds) (Amendment) Regulations, 1999, w.e.f. 17-11-1999. 5. Substituted for a company or trust by the SEBI .....

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