- An issuer shall not be eligible to make a further public offer:

(a) if the issuer, any of its promoters, promoter group or directors, 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 wilful defaulter ;

(d) if any of its promoters or directors is a fugitive economic offender.