Securities and Exchange Board of India (“SEBI”), vide its circular dated August 19, 2024 (“VCF Migration Circular”), provided, inter alia, for modalities for migration under which Venture Capital Funds (“VCFs”) have been allowed to migrate to the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”). Paragraph 5 of the VCF Migration Circular contained provisions for […]
Securities and Exchange Board of India (“SEBI”), vide its circular dated August 20, 2024, had issued the Cybersecurity and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities (“SEBI Circular on CSCRF”) which provides standards and guidelines for strengthening cyber resilience to strengthen the cybersecurity measures in Indian securities market, and to ensure adequate cyber resiliency […]
Securities and Exchange Board of India (“SEBI”), vide its notification dated May 21, 2025, has notified the SEBI (Alternative Investment Funds) (Amendment) Regulations, 2025, thereby amending the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”). Regulation 17(a) of the AIF Regulations has been substituted to clarify that Category II AIFs shall now invest in investee […]
In terms of Regulation 4(g)(i) of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”), the key investment team of the manager of an Alternative Investment Fund (“AIF”) is required to have at least 1 key personnel who shall obtain certification from the National Institute of Securities Market by passing […]
Securities and Exchange Board of India (“SEBI”), in its 209th board meeting dated March 24, 2025, has addressed the compliance challenges faced by Category II Alternative Investment Funds (“Category II AIFs”) due to the recent amendment to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”). Currently, Category II AIFs are required […]
Securities and Exchange Board of India (“SEBI”), vide its circular dated February 14, 2025, has relaxed the timelines for Alternative Investment Funds (“AIFs”) holding their investments in dematerialised form. In terms of Regulation 15(1)(i) of the SEBI (AIF) Regulations, 2012, AIFs are mandated to hold their investments in dematerialised form, subject to such conditions as […]
