Consider the following statements about SEBI's expanded definition of a promoter for IPO-bound companies:
- Founders holding 10% or more in the company are now classified as promoters.
- Immediate relatives of the promoter holding 5% or more in the company are also classified as promoters.
- The committee's recommendations are advisory and not mandatory for the government to follow.
Which of the above statements is/are correct?
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
1 only
5
1, 2, and 3