TMI BlogFramework for the process of accreditation of investors for the purpose of Innovators Growth PlatformX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ₹ 50 lakhs annually and who has minimum liquid net worth of ₹ 5 crores; or ii. Any body corporate with net worth of ₹ 25 crores. B. Procedure for accreditation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion within 45 days from the date of issue of this Circular. ii. Disseminate the provisions of this Circular on their website. iii. Communicate 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny other regulatory body, then the debarment period or disciplinary action should be over. In case of an Non Resident Indian, he or she shall confirm that he or she has not been restricted from accessing securities market by the country of jurisdiction where he or she resides. vi) Declaration from investor which will state that: (i) he/she/it, is not a wilful 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/sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er IGP norms. viii) Declaration from Managing Director/Designated Partner/authorized person that: (i) the body corporate or its promoters/partners or directors are not wilful defaulter as defined under Regulation 2(1)(lll) of SEBI (ICDR) Regulations, 2018. (ii) the promoters/partners or directors of the body corporate are not a fugitive economic offender as defined under Regulation 2(1)(p) of SEBI (ICDR) Regulations, 2018. (iii) the body corporate or its promoters/partners or whole-time directors should not be in violation of the provisions of Regulation 24 of the SEBI Delisting Regulations, 2009. (iv) the body corporate or its promoters/partners, its directors should not be i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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