A delay in getting nod from the state government was said to be the cause of delay. new balance 420 Green WATCH INDIAN EXPRESS VIDEOS HERENikhil M Babu is an intern with The Indian ExpressFor all the latest Cities News, download Indian Express App. Activists allege the low number of admission, despite the state-run online lottery system, is due to. According to the agreement, the convertible note was a debt instrument to be converted into equity after five years or at the time of exit of the fund.