# Bihar Startup Policy 2022, Section 13

- Act: Bihar Startup Policy 2022 (Act 1502 of 2022)
- Source URL: https://indiacode.ecourtsindia.com/bihar-startup-policy-2022/section/13/

## Text

Exit Conditions a. If the company is found guilty on any charges of fraud or if the company is found to have made any false declarations to claim any benefits from or derived under this policy. Legal action shall be initiated to recover all financial assistance provided to such an entity. b. Once an entity ceases to be recognized as a start-up; the Government or entity through which the Government makes its investment will be eligible to exit its investment in the Start-up and guidelines for exit will be framed by SMIC for channelizing investments into the start-up. When the Government or its representative entity exits its investment; the right to nominate a representative director on the board of the Start-up will also be extinguished.

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