Promoter Group definition

Promoter Group means such persons and entities constituting the promoter group as per Regulation 2(1)(pp) of the SEBI ICDR Regulations.

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Promoter Group shall have the meanings given to the respective terms in the Offer Documents. For the avoidance of doubt, any reference in this Agreement to Affiliates includes any party that would be deemed an “affiliate” under Rule 405 or Rule 501(b) under the U.S. Securities Act. For the purpose of this Agreement, the Affiliates of the Promoter Selling Shareholders shall not be considered Affiliates of the Company;

Promoter Group means (a) an immediate relative of the promoter (i.e. spouse of that person, or any parent, brother, sister or child of the person or of the spouse); (b) persons whose shareholding is aggregated for the purpose of disclosing in the offer document “shareholding of the promoter group”.

Examples of Promoter Group in a sentence

• There have not been any violations of securities laws committed by the Promoters or members of the Promoter Group, and SEBI or any other Governmental Authority has not initiated any action or investigation against the Promoters or members of the Promoter Group, nor have there been any violations of securities laws committed by them in the past and no such proceedings (including show cause notices) are pending against them.

• The Company, the Promoters and the members of the Promoter Group are in compliance with the Companies (Significant Beneficial Owners) Rules, 2018, to the extent applicable.

• None of the Company, the Promoters, the Promoter Group, nor any of the Directors are debarred or prohibited from accessing the capital markets or debarred from buying, selling or dealing in securities, in any case under any order or direction passed by the SEBI or any other any securities market regulator in any other jurisdiction or any other authority/court.

• None of the Company, the corporate members of the Promoter Group or the Group Companies have been named in any intermediary caution list or list of shell companies/vanishing companies and none of the Directors are or were directors of any company which has been identified as a shell company by the Ministry of Corporate Affairs, pursuant to its circular dated June 09, 2017 (bearing reference 03/73/2017-CL-II).

• The Promoters and the Promoter Group have been accurately described in the Draft Red ▇▇▇▇▇▇▇ Prospectus without any omission and there is no other promoter or entity or person that is part of the promoter group (such term as defined under the SEBI ICDR Regulations) of the Company, other than the individuals and/or entities disclosed as the Promoters and the Promoter Group in the Draft Red ▇▇▇▇▇▇▇ Prospectus.

More Definitions of Promoter Group

Promoter Group means a Relative of the Promoter, persons whose shareholding is aggregated for the purpose of disclosing in the offer document “shareholding of the promoter group.

Promoter Group means the members of the promoter and promoter group of the Target Company as defined under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)

Promoter Group means the entities constituting the promoter group of our Company in terms of Regulation 2(1) (pp) of the ICDR Regulations as disclosed in the Offer Documents;

Promoter Group shall have the meanings given to the respective terms in the Issue Documents.

Promoter Group and “Group Companies” shall have the meanings given to the respective terms in the Offer Documents. For the avoidance of doubt, any reference in this Agreement to Affiliates includes any party that would be deemed an “affiliate” under Rule 405 or Rule 501(b) under the U.S. Securities Act;

Promoter Group includes such persons and entities constituting the promoter group of the Company as per Regulation 2(1) (pp) of the SEBI ICDR Regulations;

Promoter Group shall have the respective meanings set forth in the Offer Documents. For the avoidance of doubt, any reference in this Agreement to Affiliates includes any party that would be deemed an “affiliate” under Rule 405 or Rule 501(b) under the U.S. Securities Act, as applicable. Notwithstanding the above, the Selling Shareholder will not be considered an Affiliate of the Company and vice versa. Notwithstanding anything contained in this definition, for the purposes of this Agreement, in respect of the Selling Shareholder, any portfolio or investee company, limited partners, general partners, investors or non-Controlling shareholders of a Selling Shareholder or its Affiliates shall not be considered as ‘Affiliates’ of the Selling Shareholder;